MMX announced consolidated earnings results for the first quarter of 2015. For the quarter, the company reported net loss was BRL 263 million ($87 million) in the first quarter from BRL 69.2 million a year ago. Net revenue for the quarter was 0, compared with BRL 110 million in the first quarter of 2014 a year ago.

Adjusted LBITDA was BRL 237 million, compared with BRL 501 million a year ago. The company recorded zero sales of iron ore, down from 1.2Mt.