Brazilian MMX to Invest $700 Million at Bom Sucesso Iron Ore Mine

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Researched by Industrial Info Resources (Sugar Land, Texas)--MMX Sudeste (Belo Horizonte, Brazil), a subsidiary of MMX Mineracao e Metalicos S.A. (SAO:MMXM3) (Rio de Janeiro, Brazil), is selecting an engineering firm to perform preliminary engineering for its Bom Sucesso iron ore mine project, located in the city of Bom Sucesso, about 200 kilometers from Belo Horizonte, the capital of the state of Minas Gerais in southeastern Brazil.

The project entails the construction of an open pit iron ore mine expected to produce up to 10 million tons per year of high-quality ore for export. Preliminary estimates indicate reserves of 380 million tons of iron ore. MMX Sudeste expects to begin construction by mid-2010 and start production by the beginning of 2012. Total cost of the project is currently estimated at $700 million.

Created in 2005, MMX Mineracao e Metalicos S.A. is a company of the EBX Group (Rio de Janeiro, Brazil), which operates in mining, real estate, energy renewable sources and entertainment segments.

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