Asset report

Serra Azul (MMI) iron ore mine

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Report summary

Serra Azul is a small iron ore complex located in the Quadrilátero Ferrífero (QF) region of Minas Gerais state, Brazil. It is 100% owned by Mineração Morro do Ipê (MMI), a company jointly-owned by Trafigura, Mubadala and a group of investors.In November 2015, MMX started negotiating the sale of some of its mining assets as part of a restructuring plan approved by creditors. A few months later, Trafigura, Mubadala and a group of investors, agreed to acquire MMX's iron ore facilities in the QF.On 28 October 2016, the asset acquisition was officially announced.We expect Serra Azul to sell a mix of fines, concentrate and lump products into the domestic market.Initially, operations will focus on the processing of existing stocks, though we expect these to be minimal.

What's included

This report contains

  • Document

    Serra Azul (MMI).xls

    XLS 213.00 KB

  • Document

    Serra Azul (MMI) iron ore mine

    PDF 1.25 MB

Table of contents

  • Key facts
    • Summary
    • Key issues
  • Location maps
  • Participation
  • Geology
  • Reserves and resources
  • Production
  • Operations
  • Infrastructure
  • Costs
  • Sales contracts
  • Economic assumptions

Tables and charts

This report includes 13 images and tables including:


  • Detail Map
  • Production
  • Cash cost


  • Key facts: Table 1
  • Participation
  • Marketable reserves (at 01/01/2018)
  • Production
  • Operations
  • Infrastructure
  • Cash cost (US$/tonne)
  • Capital costs (US$ million)
  • Product quality
  • Economic assumptions

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