Brazilian iron ore producer MMX posted a BRL 171.9 million ($53.6 million) net loss in the fourth quarter of 2014, the company said on Tuesday.
The company’s adjusted EBITDA in the period was negative at BRL 226.1 million ($70.5 million), a 72.2 percent increase when compared to the BRL 131.3 million ($40.9 million) negative adjusted EBITDA registered in Q4 2013.
MMX’s net revenue in Q4 was BRL 100,000 ($31,216), while in the same period of 2013 net revenue reached BRL 180.7 million ($56.4 million).
MMX said it didn’t produce iron ore in Q4 at its Sudeste and Corumba mines. In Q4 2013, the product’s production at both sites reached 1.4 million mt.