MMX reported earnings and sales results for the fourth quarter of 2014. For the quarter, the company reported net loss of BRL 172 million ($54 million) for the fourth quarter of 2014 compared with a BRL 353 million loss for the same period in 2013. Net revenue was BRL 100,000 compared with BRL 180 million in the fourth quarter of 2013. Adjusted LBITDA was BRL 226 million compared with BRL 131 million a year ago. Net debt fell 96% to BRL 99.2 million from BRL 2.79 billion a year ago.

For the quarter, the company recorded sales of 2,000 tons iron ore, down from 839,400 tons in the same period of the previous year.