Friday, 12 Aug 2011
Brazilian iron ore miner MMX Mineracao e Metalicos SA is buying iron ore from third party suppliers on the Brazilian domestic market to meet demand from its international customers.
Mr Roger Downey CEO of MMX Mineracao e Metalicos SA said that the company bought 70,000 metric tons of high quality iron ore as well as iron ore fines from neighboring miners in Brazil's Minas Gerais state in the second quarter, to meet tight export shipment schedules.
He said that the purchases from neighboring mines were necessary to supplement MMX's own output of the steelmaking raw material. While the company's second quarter record output at 2.2 million tonnes was on target, the purchases were necessary to make up for lost tonnage in the first quarter, when MMX suffered power supply and weather problems.
Mr Downey added that "We'll continue to buy third party ore as there's money to be made there.”
(Sourced from Dow Jones Newswires)
Brazilian iron ore miner MMX Mineracao e Metalicos SA is buying iron ore from third party suppliers on the Brazilian domestic market to meet demand from its international customers.
Mr Roger Downey CEO of MMX Mineracao e Metalicos SA said that the company bought 70,000 metric tons of high quality iron ore as well as iron ore fines from neighboring miners in Brazil's Minas Gerais state in the second quarter, to meet tight export shipment schedules.
He said that the purchases from neighboring mines were necessary to supplement MMX's own output of the steelmaking raw material. While the company's second quarter record output at 2.2 million tonnes was on target, the purchases were necessary to make up for lost tonnage in the first quarter, when MMX suffered power supply and weather problems.
Mr Downey added that "We'll continue to buy third party ore as there's money to be made there.”
(Sourced from Dow Jones Newswires)
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