EBX Group
Former Brazilian conglomerate associated with Eike Batista and active across mining, energy, logistics, oil and gas, shipbuilding, and infrastructure.
Last updated October 14, 2026
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Overview
EBX Group was a Brazilian conglomerate founded and controlled by entrepreneur Eike Batista. Its businesses were organized around natural resources and the infrastructure needed to extract, transport, process, and export them. The group’s principal companies included MMX in iron ore, MPX in energy, OGX in oil and gas, LLX in logistics and port infrastructure, OSX in shipbuilding and offshore services, and CCX in Colombian coal. Other ventures covered real estate, technology services, sports and entertainment, hospitality, and aviation and railway catering. The group’s roots predated the EBX name. During the 1980s, Batista developed Novo Planeta, described as the first mechanized alluvial gold mine in the Amazon, and later became chairman and chief executive of TVX Gold, a company listed on the Toronto Stock Exchange. Through gold and silver mining operations in Brazil, Canada, and Chile, Batista built experience in mining finance and international capital markets. The assets associated with this period included mines such as Amapari, Casa Berardi, Crixás, Musselwhite, New Britania, Novo Astro, Novo Planeta, Paracatu, and La Coipa. After 2000, EBX pursued a highly integrated growth model. MMX developed Brazilian iron-ore operations, while LLX planned and built logistics infrastructure intended to move mineral output to export markets. MPX developed thermal and solar power projects, OGX acquired exploration acreage in several Brazilian basins and in Colombia, and OSX was established to supply offshore vessels and production units for the oil business. CCX assembled a Colombian coal project combining mines, a dedicated railway, and a deepwater port. The structure was designed to create operating links among the companies: mines would supply ports and power plants, energy would support industrial facilities, and oil and gas operations would use offshore and logistics infrastructure within the group. During 2011 and 2012, EBX companies attracted substantial investment and high public attention. The group reported major capital commitments and announced a partnership with General Electric. Its listed subsidiaries were traded on Brazil’s B3 Novo Mercado, giving the conglomerate access to public equity markets while Batista remained its dominant public figure. The portfolio also expanded beyond extractive industries. REX pursued property development and hotel projects in Rio de Janeiro; SIX Intelligent Solutions provided technology and automation services; IMX, a joint venture with IMG Worldwide, worked in sports and entertainment; and NRX-Newrest addressed catering and related support services for air, rail, onshore, and offshore operations. The expansion ultimately proved difficult to sustain. Several core businesses faced operational setbacks, financing pressures, and weaker-than-expected production or reserves. OGX’s oil performance became a central problem, while the group’s extensive infrastructure and project commitments required continuing access to capital. As confidence declined, the value of the listed companies fell sharply and the conglomerate’s debt burden became increasingly difficult to manage. OGX entered bankruptcy protection in 2013, and other EBX companies also experienced restructurings, asset sales, ownership changes, or insolvency proceedings. EBX Group itself sought bankruptcy protection in 2014. The collapse ended its position as a unified, diversified corporate empire, although individual projects and successor companies continued under different owners or corporate identities. EBX also presented itself as a participant in social, environmental, cultural, and urban-development initiatives. Reported activities included support for conservation areas and private reserves, relocation programs connected with development projects, health facilities, public-security initiatives in Rio de Janeiro, and the Mines and Metals Museum in Belo Horizonte. These activities formed part of the group’s effort to frame large-scale resource and infrastructure investment as connected to regional development. In historical terms, EBX is remembered both for its ambitious resource-infrastructure integration strategy and for the rapid corporate collapse that followed its expansion phase.
History
EBX Group emerged from Eike Batista’s earlier mining activities and his experience with international capital markets. In the 1980s, Batista developed Novo Planeta, a mechanized alluvial gold-mining project in the Amazon, and later became chairman and chief executive of TVX Gold, a Toronto-listed mining company. Between the 1980s and 2000, the businesses associated with Batista generated value through gold and silver mines in Brazil and Canada and through the La Coipa mine in Chile. This period established the mining, financing, and project-development capabilities that later shaped EBX. Batista founded EBX Group in 2000 and subsequently built a portfolio intended to connect resource extraction with infrastructure. MMX operated iron-ore mines in Brazil, including assets in Minas Gerais and Mato Grosso do Sul. MPX, founded in 2005, developed electricity-generation projects, including thermal plants in Ceará and Maranhão and a solar facility in Tauá. OGX, founded in 2007, assembled exploration acreage in Brazilian basins and Colombia and became the group’s main oil-and-gas growth vehicle. LLX focused on logistics and developed the Southeast Superport, later known as the Açu port project, in São João da Barra, Rio de Janeiro. OSX was created to develop shipbuilding, offshore production-unit chartering, and operations and maintenance services, including facilities associated with the Açu industrial complex. The group’s international and sectoral expansion continued with CCX, which concentrated on coal assets in Colombia. Its proposed integrated project combined underground and open-pit mines with a dedicated railway and deepwater port. EBX also acquired control through AUX of Ventana Gold, a Canadian mining company with mineral rights in Colombia’s California-Vetas gold region. Alongside these core activities, the conglomerate established or backed REX in real estate, SIX Intelligent Solutions in technology and automation, IMX in sports and entertainment, and NRX-Newrest in catering and operational support for aviation, rail, onshore, and offshore markets. EBX’s defining strategic idea was internal synergy. Iron ore from MMX could be transported through LLX infrastructure; OSX could build or service offshore equipment for OGX; MPX could supply power to industrial and mining operations; Colombian coal could feed power plants or move through the group’s port network; and OGX’s gas could potentially support generation facilities. This model required substantial upfront capital and successful execution across several technically complex industries. In 2011 and 2012, the group reported very large investment programs and a partnership with General Electric, while its listed companies attracted considerable attention on Brazil’s Novo Mercado. The model deteriorated as operating performance and financing conditions failed to match the expectations embedded in the expansion plan. Problems at OGX were especially consequential, while other projects also faced delays, cost pressures, or changing ownership structures. Falling investor confidence reduced the market value of the listed companies and weakened the group’s ability to finance its commitments. OGX sought bankruptcy protection in 2013, followed by bankruptcy protection for EBX Group in 2014. The collapse fragmented the former conglomerate and left its businesses to be restructured, sold, or continued under successor ownership. Batista’s arrest in 2017 further connected the group’s history with Brazil’s broader corporate and political investigations. EBX therefore represents both an ambitious attempt to build an integrated Brazilian resources platform and a prominent example of the risks of rapid, debt-dependent conglomerate expansion.
- 2017
Eike Batista is arrested
[1]The group’s founder and former chairman was arrested amid Brazilian legal proceedings.
- 2014
EBX Group seeks bankruptcy protection
[1]EBX Group sought bankruptcy protection as financial and operating problems spread across its portfolio.
- 2013
OGX enters bankruptcy protection
[1]The group’s oil and gas company entered bankruptcy protection during the collapse of the EBX expansion model.
- 2012
IBM partnership is announced
[1]IBM announced a strategic partnership with EBX involving SIX Automation, technology development, research, and IT operations.
- 2011
MPX starts solar generation at Tauá
[1]MPX began operating the Tauá solar plant in Ceará, described as Brazil’s first commercial-scale solar power plant.
- 2011
EBX expands into technology, entertainment, and catering
[1]SIX Intelligent Solutions, IMX, and NRX-Newrest broadened the group’s activities beyond natural resources and infrastructure.
- 2008
REX is founded
[1]REX was created to pursue real-estate opportunities, urban development, and income-generating properties.
- 2007
OGX is founded
[1]OGX was established as EBX’s oil and gas exploration and production company.
- 2005
MPX is founded
[1]MPX was created within the group to pursue mining and electricity-generation activities.
- 2000
EBX Group is founded
[1]Batista established EBX Group as a holding structure for natural-resources and infrastructure investments.
Products and positioning
A resource-and-infrastructure conglomerate designed to combine mining, energy, logistics, ports, offshore equipment, and related services within one corporate ecosystem.
Iron-ore mining
MMX
MMX was EBX’s iron-ore mining business. It operated mining systems in Brazil, including assets in Corumbá, Mato Grosso do Sul, and was intended to supply ore for export through the group’s logistics infrastructure.
Power generation · 2005
MPX
MPX developed energy projects linked to the group’s industrial and resource businesses. Its portfolio included thermal power plants in Ceará and Maranhão and a solar power plant in Tauá, Ceará.
Oil and gas · 2007
OGX
OGX was the group’s oil and gas exploration and production company. It held exploration blocks in several Brazilian basins and in Colombia and began extracting oil from the Waimea accumulation in the Campos Basin in 2012.
Ports and logistics
LLX
LLX coordinated the development of the Southeast Superport in Rio de Janeiro State, intended to provide export and industrial logistics capacity for EBX’s mining, energy, and offshore businesses.
Shipbuilding and offshore services
OSX
OSX focused on shipbuilding, chartering offshore exploration and production units, and operations and maintenance services. It was associated with the shipbuilding unit at the Açu industrial complex.
Coal mining and logistics
CCX
CCX developed a proposed integrated Colombian coal project involving the San Juan underground mine, the Cañaverales and Papayal open-pit mines, a dedicated railway, and a deepwater export port.
Real estate and hospitality · 2008
REX
REX pursued urban-development and income-generating property projects in Rio de Janeiro, including the restoration of Hotel Glória, a medical center, a business center, and a hotel project.
Technology and automation · 2011
SIX Intelligent Solutions
SIX provided technology and automation capabilities, particularly for oil and gas, natural-resources, and infrastructure operations. Its development included cooperation with IBM.
Sports and entertainment · 2011
IMX
IMX was a joint venture with IMG Worldwide covering sports events, entertainment content, fashion, and music-related activities.
Catering and operational support · 2011
NRX-Newrest
NRX-Newrest was a joint venture intended to provide catering, cleaning, hospitality, and operational support services in Brazil’s aviation, railway, onshore, and offshore sectors.
Controversies
2017
Arrest of Eike Batista
Eike Batista, the founder and former chairman of EBX, was arrested amid Brazilian legal proceedings. The available reference does not specify the charges in sufficient detail for a fuller account here.
2014
EBX Group bankruptcy protection
EBX Group sought bankruptcy protection after debt pressure, operating problems, and deteriorating market confidence spread across its portfolio.
2013
OGX collapse and bankruptcy protection
OGX’s production and financing difficulties became a major part of the wider EBX crisis. The company entered bankruptcy protection in 2013, undermining confidence in the group’s resource-development model.
Marketing campaigns
- 2011Rio de Janeiro public-safety support
Brazil
EBX announced financial support for Rio de Janeiro’s Pacifying Police Units project, with funds intended for equipment, infrastructure, and logistics.
Outcome. The cited material states that the support was planned through 2014 but does not establish the final delivered amount or long-term outcome.
- Social and environmental investment program
Brazil · Colombia · Chile
EBX and its operating companies supported conservation, environmental restoration, community relocation, health, cultural preservation, and public-safety initiatives. Reported examples included support for national parks and private reserves, family relocation programs, a pediatric cancer center in Ceará, and the Mines and Metals Museum in Belo Horizonte.
Outcome. The program formed part of EBX’s social license and regional-development narrative, although the cited material does not provide an independently verified overall impact assessment.
Brand decisions
2014
Seek bankruptcy protection for EBX GroupOtherBackground
Debt pressure and operational deterioration across several subsidiaries made the unified conglomerate model unsustainable.
Action taken
EBX Group sought bankruptcy protection.
Aftermath
The group’s assets and subsidiaries were subsequently associated with restructurings, sales, ownership changes, or successor entities rather than a continuing unified EBX structure.
2013
Seek bankruptcy protection for OGXOtherBackground
OGX faced production problems and difficulty meeting the expectations attached to its exploration portfolio and financing structure.
Action taken
OGX entered bankruptcy protection.
Aftermath
The filing became a key event in the disintegration of the EBX conglomerate and contributed to the restructuring of related businesses.
2012
Partner with IBM on technology operationsStrategyBackground
EBX wanted technology and automation capabilities to support natural-resources and infrastructure projects.
Action taken
IBM agreed to acquire a minority interest in SIX Automation, cooperate on research and development, and assume outsourced IT functions for EBX.
Aftermath
The partnership broadened EBX’s technology platform, although the later group collapse limited the durability of the original structure.
2011
Build linked port, mining, power, and offshore capacityStrategyBackground
EBX sought to increase resource output while controlling or coordinating the infrastructure needed to move and process it.
Action taken
The group advanced the Açu port and industrial complex, MPX power projects, MMX mining operations, and OSX offshore and shipbuilding facilities.
Aftermath
The strategy produced a broad project pipeline and high investor visibility, but depended on continued capital access and successful delivery across multiple industries.
2000
Create an integrated resources and infrastructure groupStrategyBackground
Batista had developed mining and capital-markets experience through earlier gold and silver ventures.
Action taken
EBX was established as a holding group spanning mining, energy, logistics, oil and gas, and infrastructure.
Aftermath
The structure enabled cross-company projects but also concentrated substantial financing and execution risk within a single corporate ecosystem.
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