Brazilian iron ore mining company MMX announced Thursday that it will no longer pursue a Chilean mining project near Copiapo in northern Chile. Instead, MMX will focus on Brazilian iron ore projects.
MMX had already made significant investments in a railway and port to transport the iron ore but changing circumstances regarding power supply and transportation no longer made the project attractive. Instead, MMX will fully focus on opening its new Superporto Sudeste port in Rio de Janeiro by the end of 2013.