On Monday Brazilian iron ore mining company MMX Mineracao e Metalico SA said it can now proceed with the construction of an iron ore processing plant at its Serra Azul location in Minas Gerais. MMX received a preliminary license that allow for the development of not only the processing plant that will handle 24 million metric tons of iron ore annually, but a new rail terminal and conveyor belt to carry the iron ore.
MMX is also in the process of developing a new port in the area in Rio de Janeiro known as the Sudeste Port. Once completed, the port will be able to export as much as 50 million metric tons of iron ore annually.