New book ‘102 Things to Do with a Hole in the Ground‘ spotlights global reclamation projects
Stories of reinvented coal mining regions, regenerated communities and rebuilt ecosystems are told in a new book published this month.
Once Brazil’s richest businessman, Eike Batista, is in “advanced talks” to sell its flagship iron ore company, MMX Mineração e Metálicos S.A., to competitor Vetria Mineraçao SA.
According to InfoLatam (in Portuguese), MMX is finalizing a deal with Vetria, controlled by ALL Logistica, that could imply selling the entire company, or just ceding its mining rights in the state of Mato Grosso do Sul.
MMX, which has an annual production capacity of 10.8 million tons of iron ore, was founded by Batista in 2005.
In January this year, Brazil’s tax agency struck MMX with a $1.8 billion tax fine, an amount equivalent to nearly 80% of its market value. Two months later, the firm reported a much-higher-than-expected $400 million loss.
Since then Batista’s lenders have grown anxious, and market rumours indicate the mining magnate will have to reorganize — and subsequently lose control of — his declining empire.
The businessman, only a year ago one of the ten richest people in the world, has lost billions from his commodities and logistics empire — EBX — and is now estimated to be worth only around $200 million, including debt.
His six companies under EBX’s umbrella — OGX, MPX, LLX, MMX, OSX and CCX — have lost a combined $9.7 billion this year, as per August 1st.
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manuel encarnacion
hola , estoy escribiendo, pero no se aquien, si le puedo informal de una herrencia que nos dejo mi padre de 575 tarreas y nos intesaria benderla lla que esta esta en las trallectorias de las minas que tenemos en el pais estoy seguro al cien por ciento que oro , por que hay han estados haciendo sondeos vias elicoteros algunas minerras,,, muchas gracias al que se comunique con migo. [email protected] oh 809 714 9672