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Package with Porto Sudeste and Mining Morro do Ipê Returns to Market Radar, with Estimated Sale of US$ 5 Billion and Proposal Stage Expected for 2026.
The possible sale of Porto Sudeste and Mining Morro do Ipê, valued at US$ 5 billion (about R$ 26 billion), has regained traction after market reports and a video posted by Eike Batista on social media.
Although Eike is no longer the owner of the assets, he stated that he was responsible for creating and structuring the project when the package was still part of the former MMX, a company linked to his group.
On the other side of the table, those controlling the package today are the Mubadala management and the trading company Trafigura, which have a significant joint stake in the terminal business and also interests in the mining operation.
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This movement brings back a sensitive issue: to what extent should the “credit” of a project follow with the founder, even after a decade marked by restructuring and changes in control.
What Is Being Negotiated in 2026 and Why the Number of US$ 5 Billion Catches the Eye
The package involves a port terminal in Rio de Janeiro and an iron ore operation in Minas Gerais, sold as an integrated project, according to industry reports.
The expectation for completion still in 2026 has been mentioned by specialized outlets, highlighting the attempt to maximize value by keeping the mine and port together.
In the video, Eike Batista said that “they are talking about a sale of 5 billion dollars” and mentioned an estimated annual royalty above US$ 150 million, without presenting documents in the post.
Porto Sudeste in Itaguaí: Capacity, Location and Logistical Expansion Potential
Porto Sudeste is located on Madeira Island, in Itaguaí, in the state of Rio de Janeiro, and appears as a relevant private terminal for bulk cargo, with infrastructure geared towards ore and other cargoes.
According to the terminal itself, the current capacity is 50 million tons per year, with an expansion license that could bring the total to 100 million tons per year.
The financial statements of Porto Sudeste describe that the company started its operations in January 2016 and detail that the controlling entities Trafigura and Mubadala signed a shareholders’ agreement in February 2014.
The same document also indicates that Trafigura and Mubadala, through investment structures, jointly hold 99.35% of the company’s equity stake.
In practice, this type of asset is valuable because it “unlocks” logistics. It creates its own flow route and reduces dependence on third parties, which can be decisive in a market competing for port capacity and shipment predictability.
Mina Morro do Ipê in Minas Gerais: Integration with the Port and the History with the Former MMX
Mining Morro do Ipê operates iron mines in Minas Gerais and highlights, in its institutional materials, the management of the Ipê and Tico-Tico mines in the Brumadinho, Igarapé, and São Joaquim de Bicas regions.
In a report from the mining sector, the company is presented as having been created in 2016, with origins linked to the acquisition of assets that belonged to MMX Sudeste Mineração, reinforcing the historical link with the project structured during the EBX period.
The central point of the package is the integration. The logic is to produce in the Iron Quadrilateral and ship through a dedicated terminal, forming a “corridor” that improves efficiency and predictability.
This arrangement is exactly what tends to attract interested parties seeking supply chain control, because the buyer ends up having both the mine and the exit port within the same package, with fewer bottlenecks between production and export.
How the Process Will Be: NDA, Non-Binding Proposals and Banks at the Forefront of the Negotiation
The competitive process has been relaunched for potential buyers to analyze numbers and submit non-binding proposals, with submission expected in the first quarter of 2026, according to reports published in Brazil.
Before that, the stage typically requires the signing of confidentiality terms, the so-called NDAs, to release detailed data to interested parties.
In the coordination, reports mention UBS BB and Goldman Sachs as mandated financial advisors, and there is also a publication pointing to the participation of Bradesco BBI in the process.
The topic is not new. In 2024, Mubadala itself reported that there was an internal process underway to prepare the sale of Porto Sudeste, which it co-owns with Trafigura, according to a Reuters report.
Why Eike Returned to the Subject and What It Signals for the Iron Ore Market
Eike’s video serves as an attempt to reinsert his name, even without current involvement in the assets, by emphasizing that he created and structured the project before the crisis that hit his group.
For the market, the interest lies less in the figure of the former controller and more in the rarity of an integrated package of mine and port, with established capacity and licenses.
Also weighing is the context of competition for infrastructure and the view that strategic or financial buyers may seek to capture economies of scale and more intense use of the terminal’s capacity.
The big unknown, for now, is whether the intended value holds up in the competitive process and who will agree to pay for this “logistical shortcut,” in a sector where ore prices and export costs change rapidly.
Gostaria de saber quem tinha ações da MMX Minerado do Eike .
Se este assunto de compradores der certo, como fica as pessoas que tinha ações da MMX Minerado?
Como alguém ainda confia nesse picareta?
Com o governo Lula, todos os **** voltaram a roubar!