Brazil-based mining and logistics companies MMX Mineracao e Metalicos SA, and LLX Logistica SA, have signed a preliminary iron ore transportation and mining agreement with Brazil-based iron ore miner Usinas Siderurgicas de Minas Gerais SA (Usiminas).
The agreement will allow for Usiminas to use LLX's port to ship iron ore, while MMX has agreed to invest in Usiminas' iron ore mine in Mina Pau de Vihho. The agreement will further Usiminas's plans to increase iron-ore output by about 40 percent by 2012.