Brazil miner MMX agrees to sell Chile assets to Cooper Mining

RIO DE JANEIRO Fri Aug 30, 2013 5:25pm EDT

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RIO DE JANEIRO Aug 30 (Reuters) - Brazil's MMX Mineração e Metálicos SA, an iron ore mining company controlled by Brazilian tycoon Eike Batista, said on Friday it agreed to sell all of its Chilean assets to Inversiones Cooper Mining SA.

Under the agreement, MMX will receive a royalty on each tonne of iron ore produced by Cooper Mining if and when the company begings commercial mining output from the assets, MMX said in a securities filing.

No sale price was given in the statement.

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