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Home Steel News MMX to purchase AVG Mineracao
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MMX to purchase AVG Mineracao

9 Jul 2007 14:33 reported by Grace Jiang

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MMX (MMX Mineracaoe Metalicos SA) is negotiating to purchase 100 percent of the issued and outstanding shares of capital stock of AVG Mineracao.

It is said that the amount is about US$250 million to US$400 million, but MMX refuses to comment.

AVG company can produce around 2 million tons of iron ore annually. In addition, the company has already received an environment permit to raise output to 7.8 million tons in 2010.

AVG’s iron ore storage is about 250 million tons.

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