Batista’s CCX Declines in Sao Paulo After Erasing Earlier Gain

CCX Carvao da Colombia SA, the coal unit of Brazilian billionaire Eike Batista, fell 0.4 percent to 5.38 reais in Sao Paulo trading after reversing an earlier gain of as much as 9.3 percent. The benchmark Bovespa index slid 1.7 percent.

Subsidiary CCX Colombia SA published a statement in Colombian newspapers today giving formal notice that it wants to build a port in the city of Dibulla, La Guajira state. CCX said in a separate filing to Brazilian regulators that it will submit the request to the Colombian government after 45 days.

The development of the port will allow storage and other activities to support CCX’s coal production exports, estimated at 35 million tons per year, the company said.

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