Serra Azul is a mid sized surface mine complex in Brazil's Quadrilátero Ferrífero (QF) region in the state of Minas Gerais. It is 100% owned by Mineração Morro do Ipê (MMI) a jointly owned subsidiary of Trafigura and Mubadala. In August 2014 Serra Azul's former owner MMX announced that it would be idling the operations at the mine for 30 days following significant declines in global iron ore prices. Shortly thereafter in early October the company filed for bankruptcy protection. As a result all MMX's mining operations were permanently suspended in 2015.