Batista's Brazil miner MMX says seeks partners, asset sales

Thu Aug 15, 2013 9:55am EDT
 
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RIO DE JANEIRO Aug 15 (Reuters) - Brazilian iron ore miner MMX Mineração SA has put its Corumba mine up for sale along with other assets in hopes of finding investors that will shore up its dwindling cash position, a company executive said on Thursday.

MMX shares were down 6 percent in early trade in Sao Paulo at 1.98 reais.

MMX is the mining unit of Brazilian tycoon Eike Batista's EBX empire, which also includes oil exploration and shipbuilding assets, among others. EBX has been selling assets to pay off debt. On Wednesday, it sold control of its LLX logistics company to U.S.-based investment group EIG Global Energy Partners. (Reporting by Jeb Blount; Writing by Reese Ewing; Editing by Gerald E. McCormick)