MMX, EBX’s branch Company, owned by the entrepreneur Eike Batista, closed a deal with the railroad Company MRS Logística for iron ore transportation by its mines located at the Iron Quadrangle of Minas Gerais to the Southeast Port, at Rio de Janeiro.
The contract foresees the draining of up to 36 million tons of ore by 2026 with a US$14.49 tax-free fee per moist ton. This feel will be readjusted annually based on inflation variance measured by IGP-DI and the diesel price.
MMX says that the contract does not foresee its investments on MSR’s rail structure, but the parties might discuss fee adjustments in case of eventual technologic changes, or if there is a need for additional infrastructure investments in order to ensure attendance of the miner’s volumes.
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Guilherme Escalhão, CEO of MMX, stated by means of a release that signing this contract completes the actions needed to developing the Company, besides ensuring logistic integration of the Southeast System.
With Serra Azul Reservoir (where most part of the Company’s mines is located) certified, railroad transportation hired and the port with its construction in an advanced stage, MMX consolidates its expansion project – stated the entrepreneur.
According to the miner, this contract also foresees a flexibility between 10% and 15% for annual volumes contracted, which is also under the Take or Pay Clause for 80% of the total ton defined.
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