OREANDA-NEWS. MMX has concluded the sale of all the shares held in Minera MMX de Chile S.A. to Inversiones Cooper Mining S.A., a company incorporated and established in compliance with Chilean law.

Such transaction will assure the payment of royalties to the Company in the amount of USD 0.80 per ton of dry iron ore sold, as from the start-up of commercial production and exploitation of the assets of MMX Chile assets by Cooper Mining, limited to the maximum value of USD 40 million, readjusted by the variation of Producer Price Index (PPI).

The sale of the operations in Chile is consistent with the business strategy of the company of optimizing its asset portfolio and simplifying its corporate structure to maximize the value creation for its shareholders.