BNamericas reported that Altos Hornos de México said Mexican authorities have begun unfreezing the company’s bank accounts, allowing normal activities to resume. AHMSA said “This will enable the company to resume normal financial operations with clients and suppliers and ensure payments to its 20,000 workers. Lifting the freeze will also allow production at AHMSA’s steel plants and iron ore and coal mines to continue. The financial restrictions have not impacted production.”
The bank accounts of the steelmaker were frozen by Mexico’s financial intelligence unit earlier in the week on suspicion of money laundering. The move to unfreeze the accounts follows the arrest in Spain of AHMSA chairman Alonso Ancira, who was detained by Interpol on May 28.