The decision by MMX Mineracao and Metalicos would mean a balance sheet write down of 224-million reais, the company said in a securities filing, but it may reassure analysts worried that MMX needs to focus more on its most promising projects.

“We’re revising the business model of the company, seeking greater added value for our shareholders”, Carlos Gonzalez (CEO at the company) said in a filing to the security regulator declaring the cancellation of the project near Copiapp in northern Chile.

MMX said that new conditions affecting power supplies and transport for the project in the Atacama desert area had made it less attractive. The company made its investments in a railway and port. A press officer said that the project was at the geological mapping stage. MMX has iron-ore mining operations in Brazil and its own port. MMX said it was focused on the opening Superporto Sudeste port in Rio de Janeiro at the end of this year and with this, it will ship high-quality iron-ore to steelmakers broad.

Construction delays and cost overruns at projects have crimped cash for investment at the time when many people believe a decade of price increases driven by the Chinese demand may be at an end.

The companies in the EBX operate in sectors from oil and mining production to shipbuilding and logistics. The companies’ shares suffered last year and because of this experience, investors are nervous about delays to projects and disappointing output from oil until OGS.

Once rusting is started, the iron continues to corrode because rust is permeable to air and water. The interior metallic iron beneath the rust layer again gets in touch of air and water, and therefore, rust forms again

Prevention:
We abundantly use iron and steel products, and this is why prevention of rust has become a major economic activities.

• Barrier Protection: a barrier film can be introduced between the iron and atmospheric oxygen and moisture. A barrier protection can be achieved by painting the surface or by coating the surface with a very thin film of grease or oil or by electroplating iron with metal such as copper, nickel and chromium etc.

• Sacrificial Protection: in this method, iron surface is covered with a layer of more active metal such as zinc. Zn loses e in preference to iron and prevents the rusting of iron. The process by which iron is protected by Zinc is called galvanization. Zinc, aluminum and magnesium powder dissolved in paints are also effective to protect iron from rust.

• Use of Anti-rust solutions: The alkaline chromate and alkaline phosphate act as anti-rust solutions. When iron objects are dipped into strongly alkaline solution of sodium phosphate, a protective insoluble iron phosphate film is formed. The film prevent the object to be rusted.