MMX is the mining company of the EBX Group founded in 2005. It is engaged in the extraction, beneficiation and sale of iron ore and minerals in Brazil and Chile. The company filed for bankruptcy in 2016, and it is part of the current investigation of fraud and money laundering linked to its owner Eike Batista.[1]
MMX declared having the capacity to produce 10.8 million tonnes per year (mtpy) of iron ore in 2013. The company planned to invest in the expansion of the total installed capacity to reach an output up to 40 mtpy of iron ore. The company operates through of two systems in Brazil, it's the Sistema Sudeste (Southeast System) e Sistema Corumbá (Corumbá System) and in Chile. The Sistema Sudeste is made up of units Serra Azul and Good Success. In the region of Serra Azul - Iron Quadrangle in Minas Gerais - MMX operates the mines, Tico Tico and Ipê acquired, respectively, in late 2007 and early 2008.
The Serra Azul Unit has installed capacity to annually produce 8.7 million tons of iron ore. In December 2010, MMX announced investments of $3.5 billion to expand capacity to 24 million tons per year.
In February 2011, MMX has acquired the right to explore for 30 years the Pau de Vinho Mine which is owned by Usiminas. The mine is located in an area adjacent to Blue Mountain Drive, which optimizes its operation. Early studies show that Pau de Vinho Mine can add more than 8 million tons of iron ore per year to the production of MMX in the region.