Brazil’s MMX loses contract to explore Emma iron ore mine

Tuesday, 09 March 2021 23:35:38 (GMT+3)   |   Sao Paulo

The Brazilian National Mining Agency (ANM) has suspended a contract that allowed MMX to explore the Emma iron ore mine, the iron ore company said.

By court order, exploration rights for the mine, located near the city of Corumbá in the state of Mato Grosso do Sul, were transferred to a competitor, Vetorial Mineração.

MMX, which under a bankrupt protection plan, needed the Emma iron ore mine to generate cash to eventually resume its iron ore business, and the company said it will appeal the decision.

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