Brazil's MMX to take 153.8 mln real Q2 charge to cut mine value
RIO DE JANEIRO
RIO DE JANEIRO Aug 14 (Reuters) - Brazil's MMX Mineração e Metálicos SA said on Wednesday that it plans to take a 153.8 million real ($68.1 million) charge in the second quarter after it reduced the recovery value of its high-grade iron-ore mine in Corumbá, Brazil.
The charge was taken after the Rio de Janeiro-based iron ore company conducted tests on the accounting value of the Corumbá mine, the company said in a statement.
The mine, near Brazil's Western border with Bolivia, has had difficulties shipping its output to market because low water levels on the Paraguay River often prevent the passage of its iron ore barges to ocean ports in Argentina.
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