Recently, MMX Mineracao & Metalico SA (MMX), one of the major iron ore mining companies in Brazil announced its financial report for 2012.
The company posted a net loss of BRL792.4 million for 2012, decreasing from a net loss of BRL19.2 million in a year ago. In 2012, MMX realized sales revenue of BRL806 million, decreasing by 22% year on year.
Meanwhile, MMX posted a net loss of BRL348.7 million for the fourth quarter of 2012, dropping from a net profit of BRL69.2 million in the same period of a year ago. The sale revenues were at BRL197.8 million, slumping by 29% year on year.
In the given period of time, MMX sold 1.9 million tons of iron ore, falling by 2% year on year and its iron ore output totaled 1.66 million tons, rising by 15% year on year.