MMX plans sevenfold iron production increase by 2013

July 27, 2008

July 27th (Steel Guru) – BNamericas reported that Brazilian company MMX Mineraçao is projecting a sevenfold increase in its iron production to 40 million tonne per year by 2013, with 6.3 million tonne coming from its operations at Corumbá and 33.7 million tonnes from new unit MMX Sudeste.

MMX in a statement said that this and other expansions will require investments of USD 1.5 billion in the 2008 to 2015 period, which have been approved by MMX’s board of directors.

Currently MMX Sudeste made up of MMX’s Serra Azul unit and a Greenfield project called Bom Sucesso produces 4.3 million tonne per year and Corumbá 1.9 million tonne per year.

MMX added that the projects at MMX Sudeste will require USD 1.1 billion and Corumbá USD 62 million. Most of MMX Sudeste’s production is headed overseas.

MMX is also planning to build a USD 333 million billet plant in Mato Grosso do Sul state that will start up at 34,000 tonne per year in 2010 and reach 452,000 tonne per year in 2012.

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