MMX Announces LLX Obtains Environmental License for Port Sudesteadmin
MMX Mineração e Metálicos S.A. informs its shareholders and the market in general that LLX Logística S.A., through its subsidiary LLX Sudeste Operações Portuárias Ltda., obtained preliminary environmental license for the construction of “Port Sudeste,” a port terminal with a capacity of 50 million tons of iron ore per year.
Located in the municipality of Itaguaí, 80 km from the city of Rio de Janeiro and only 4 km away from MRS railway network, Port Sudeste will handle the production from MMX’s Sudeste System mines located at Minas Gerais State. The long-term contract for land lease and iron ore handling at Sudeste Port has already been executed with LLX and will serve all MMX Sudeste export capacity.
The Sudeste Port has already secured eligibility for long term financing from BNDES, as announced by LLX in April 02, 2009, and the project is evolving according to the expected schedule. The MMX Sudeste System, together with the LLX Sudeste Port, represents a competitive integrated solution in Brazil of high quality iron ore mining coupled with independent, efficient and secure logistics to export its production.