Brazil's MMX says iron ore mining cost about $20 a tonne -CEO

RIO DE JANEIRO, March 27 Thu Mar 27, 2014 1:37pm EDT

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RIO DE JANEIRO, March 27 (Reuters) - Brazil's MMX Mineração e Metálicos SA, an iron ore mining company controlled by Brazilian tycoon Bike Batista, mines its iron ore in Brazil's southeast region for about $20 a tonne, Chief Executive Officer Carlos Gonzalez said on Thursday.

MMX's mining cost can be broken in two parts, Gonzales said during a conference call with investors and analysts: about $16 a tonne to take the ore out of the ground and about $3 to move the ore to a railway and load it on rail cars. (Reporting by Jeb Blount; Editing by David Gregorio)

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