Company News: MMX Mineracao & Metalicos SA
Updated: 13 Sep 2010
Iron ore is an abundant resource in many countries and is present in the most diverse products in use in our daily lives, from cooking utensils to motor-cars or the buildings where we live and work. Extraction of iron ore must be carried out in a cost-effective manner and depends on logistics for distribution.
Currently, Brazil's exports in this area are approximately 300 million tons per year, according to SECEX (External Trade Authority). China alone receives more than 50% of Brazilian exports, importing more than 600 million tons in 2009.
Given these circumstances, we at MMX see a huge potential market, both for domestic consumption and for export. We are investing in our mining systems to increase our production capacity from 10.8 million tons of iron ore to 46 million tons per year.
Currently, Brazil's exports in this area are approximately 300 million tons per year, according to SECEX (External Trade Authority). China alone receives more than 50% of Brazilian exports, importing more than 600 million tons in 2009.
Given these circumstances, we at MMX see a huge potential market, both for domestic consumption and for export. We are investing in our mining systems to increase our production capacity from 10.8 million tons of iron ore to 46 million tons per year.
Business Category Exploration; Mining
Regions of Operation Latin America
Exchange Ticker MMXMY
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Most Recent Company News
- Metso provides grinding mills to MMX - 27 Apr 2012 3:53pm
Metso has signed a contract with MMX mining company to provide vertical grinding technology for a project in Brazil Read more... - MMX CFO replaced - 16 Mar 2012 12:26pm
Brazil-focused iron-ore producer Mineração e Metálicos SA (MMX) said chief financial officer Guido Germani had resigned, after working with MMX since 2009 Read more... - ABB wins contract for its first gearless mill drive system in iron ore processing - 14 Dec 2011 2:00pm
ABB was recently contracted to supply GMD systems for two SAG mills at the Serra Azul iron ore mine. Read more... - Brazil: strength to strength - 15 Jul 2011 12:33pm
Last year was a good year for Brazil, and proved to be the best of the recent booming years so far for the Latin American giant Read more... - MMX plans financing to develop Serra Azul - 15 Jul 2011 12:33pm
MMX Mining and Metal SA is working to arrange a US$1.8 billion financing package to develop the Serra Azul iron- ore project in Minas Gerais state, Brazil Read more... - Batista holds firm on Forbes rich list - 11 Mar 2011 11:22am
Brazilian Eike Batista, major shareholder of iron-ore miner MMX Mineraçao & Metalicos SA, has maintained his position in this year’s rich list from Forbes. Read more... - MMX Mineraçao announces US$2.9bn iron-ore expansion - 20 Dec 2010 4:49pm
Eike Batista’s MMX Mineraçao & Metalicos SA plans to invest BR5¦billion (US$2.9 billion) adding 34Mt/y of production from its iron-ore mines in Brazil’s Sudesta System. Read more... - Sino-rhythm - 13 Aug 2010 11:15am
Travel to any country in Latin America and you will see the hand of China at work Read more... - Batista exploring MMX sale - 06 Aug 2010 11:57am
Brazilian Eike Batista, the world’s eighth richest man, is reportedly in talks to sell his stake in iron-ore producer MMX Mineracao e Metalicos SA and a port on the country’s southeastern coast, according to Brazil’s O Estado de Sau Paulo newspaper Read more...
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