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3Q10 Results




          1
Disclaimer



This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in the
Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange
Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements and
are often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”,
“will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward-
looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates.
By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and
specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such
statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to place
undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from these
statements.
Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a
timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, and
changes in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-
looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events.
MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell
(which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States,
or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered
under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United
States absent registration or an applicable exemption from such registration requirements.
This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part
without MMX’s prior written consent.
                                                                                                                               Investor Relations
                                                                                                                    Roger Downey – CEO & IRO
                                                                                                                    Camila Anker– IR Manager
                                                                                                                  Rafaela Gunzburger – Analyst
                                                                                                                    Tel. + 55 21 2555-6197/ 6338       2
                                                                                                                                 ri@mmx.com.br
Improving performance
                                                    3Q10                        QoQ                YoY

Sales                                           1.7 million ton                  -4%               4%

Gross Revenues                                  R$ 251.9 million                23%                123%

Gross Profit                                    R$ 158.3 million                34%                138%

EBITDA Adjusted                                 R$ 72.5 million                 32%                541%


               Net Profit (R$ million)                                   G&A / Gross Revenue (%)
 105                                                              52%
  70
                                          86          40%
  35
   0                                                  20%                      13%
           (27)          (42)
 -35                                                                                         9%

 -70                                                   0%
                                                                  3Q09
           3Q09          2Q10            3Q10

                                                                                                          3
EBITDA now positive reaches R$ 72.5 M


                  EBITDA (R$ million)                                    Gross Margin (%)
 90                                                         80%
                                                72,5 72,5

 60                          54,8
                                                            60%
 30


   0                                                        40%   63%         63%           67%
                                     (0,2)

 -30     (16,4)

                                                            20%
 -60


 -90              (77,1)                                    0%
             3Q09                  2Q10           3Q10            3Q09        2Q10          3Q10

                  Ajusted EBITDA*            EBITDA
 *excluding non-recurring items.                                                                   4
Record total production volume

                              Production (thousand ton)
2.000



1.600



1.200



 800



 400



   0
        1Q08   2Q08   3Q08   4Q08   1Q09   2Q09   3Q09    4Q09   1Q10   2Q10   3Q10


                                                                                      5
YTD perfomance already reached
annual record

           Production (million tons)                       Sales (million tons)
 6                                          6


 5                                          5


 4                                          4


          5,0            5,2         5,6
 3                                          3
                                                     4,7             4,7          5,1

 2                                          2


 1                                          1


 0                                          0
     2008/full year 2009/full year   9M10       2008/full year 2009/full year     9M10


                                                                                         6
Long term sales contracts

All of MMX´s operations and projects are substantially committed in long term sales
contracts, reducing our market risk over the long term and providing greater backing to the
funding of our growth.

           Sudeste                            Chile                  Corumbá



                                                  50%
                    62%                                                       77%




               Production already committed
                                                                                       7
Moving forward

Sudeste Superport acquisition   Expansion plan

  LLX partial spin off into       Bom Sucesso EIA/RIMA filed
  PortX
                                Liquidity
  R$ 1.6 billion rights issue
  completed                       Market Maker hired




                                                           8
Sudeste Superport acquisition: next steps


  LLX Spin Off withdrawal period ends -> PortX starts trading at
  Novo Mercado

  MMX files the VTO (Voluntary Tender Offer) Documents at CVM

  CVM approves the VTO

  MMX publishes the VTO notice to the market

  VTO auction at BM&FBOVESPA



                                                                   9
THANK YOU

        10

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Apresentação 3 q10

  • 2. Disclaimer This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements and are often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”, “will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward- looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates. By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such statements may not be indicative of results or developments in future periods. We caution participants of this presentation not to place undue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from these statements. Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a timely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, and changes in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward- looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events. MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell (which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States, or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without MMX’s prior written consent. Investor Relations Roger Downey – CEO & IRO Camila Anker– IR Manager Rafaela Gunzburger – Analyst Tel. + 55 21 2555-6197/ 6338 2 ri@mmx.com.br
  • 3. Improving performance 3Q10 QoQ YoY Sales 1.7 million ton -4% 4% Gross Revenues R$ 251.9 million 23% 123% Gross Profit R$ 158.3 million 34% 138% EBITDA Adjusted R$ 72.5 million 32% 541% Net Profit (R$ million) G&A / Gross Revenue (%) 105 52% 70 86 40% 35 0 20% 13% (27) (42) -35 9% -70 0% 3Q09 3Q09 2Q10 3Q10 3
  • 4. EBITDA now positive reaches R$ 72.5 M EBITDA (R$ million) Gross Margin (%) 90 80% 72,5 72,5 60 54,8 60% 30 0 40% 63% 63% 67% (0,2) -30 (16,4) 20% -60 -90 (77,1) 0% 3Q09 2Q10 3Q10 3Q09 2Q10 3Q10 Ajusted EBITDA* EBITDA *excluding non-recurring items. 4
  • 5. Record total production volume Production (thousand ton) 2.000 1.600 1.200 800 400 0 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 5
  • 6. YTD perfomance already reached annual record Production (million tons) Sales (million tons) 6 6 5 5 4 4 5,0 5,2 5,6 3 3 4,7 4,7 5,1 2 2 1 1 0 0 2008/full year 2009/full year 9M10 2008/full year 2009/full year 9M10 6
  • 7. Long term sales contracts All of MMX´s operations and projects are substantially committed in long term sales contracts, reducing our market risk over the long term and providing greater backing to the funding of our growth. Sudeste Chile Corumbá 50% 62% 77% Production already committed 7
  • 8. Moving forward Sudeste Superport acquisition Expansion plan LLX partial spin off into Bom Sucesso EIA/RIMA filed PortX Liquidity R$ 1.6 billion rights issue completed Market Maker hired 8
  • 9. Sudeste Superport acquisition: next steps LLX Spin Off withdrawal period ends -> PortX starts trading at Novo Mercado MMX files the VTO (Voluntary Tender Offer) Documents at CVM CVM approves the VTO MMX publishes the VTO notice to the market VTO auction at BM&FBOVESPA 9
  • 10. THANK YOU 10