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
www.mmx.com.br/ri
Nelson Guitti – Officer
Praia do Flamengo 66, 10º floor
Rio de Janeiro, Brazil 22210-030
Elizabeth Cruz – Manager
Gina Pinto - Analyst
Tel. 55 21 2555-5634 / 5558/ 5563
ri@mmx.com.br
4. MMX & Anglo American Transaction
Corporate Structure after Restructuring and the approval of Anglo’s proposal
MMX current Controlling Current Minority
shareholders Shareholders & Shareholders of MMX
of MMX
100% 100% 57% 43%
IronX
MMX Metálicos
70% 51% 70% 51% 70%
100%
MMX Amapá MMX ( 2 ) MMX ( 3 ) MMX LLX LLX
(1) Minas-Rio Corumbá SUDESTE* Minas-Rio Açu
30% 49% 30% 49% 30%
Cleveland Cliffs Centennial Asset Centennial Asset
Corumbá Participações
Logística
( 1 ) Includes 100% of Metallics Amapá; ( 2 ) Includes MMX´s option in 50% of future Pelletizing Plant; (3) Includes 100% of Metallics Corumbá
2
* Former AVX Mineração
5. MMX & Anglo American Transaction
Summary
– Payment to IronX shareholders (including tag along) totaling US$5,518,547,123.63 – US$18,056 per
share
Establishment of royalties agreement, where IronX pays equivalent to 2.415% of the EBITDA
(excluding Sales, General and Administrative Expenses but including the Stay in Business Capital
Expenditures, as defined in the respective agreement) of MMX Minas-Rio, limited to US$50 million
annually, and 3.276% of the EBITDA (duly adjusted as defined in the respective agreement) of
MMX Amapá, limited to US$14 million annually.
Current MMX shareholders will receive equivalent LLX public shares and integral maintenance of
participation in the Company:
Conditions
Completion of MMX S.A. restructuring terms in addition to IronX shares buy-sell agreement
between Controller and Anglo
MMX restructuring approval by MMX Board of Directors at Board Meeting and by the shareholders
at the Shareholders’ Meeting
Final transaction documentation and terms approval by Anglo’s Board of Directors
3
6. MMX & Anglo American Transaction
Transaction Timeline
Announcement of the Transaction: January 17, 2008
Execution of Share Purchase Agreement signing between Anglo and Controller: March 31, 2008
MMX’s Board meeting approved the Company’s partial split-up and authorized to call the
Shareholders’ Meeting: April 7, 2008
Extraordinary Shareholders’ Meeting: June 19, 2008
Controller stake sale financial closing: after Shareholders’ Meeting
IronX and LLX listing on Bovespa: after Shareholders’ Meeting
IronX’s remaining shareholders’ tag along offer: after public listing of IronX and consequent CVM
public offering registration
Further annoucements will be made in due course upon execution of the definitive transaction documents
4
7. MMX IN THE STOCK MARKETS – BOVESPA AND TSX
Capital Stock – 304,609,840 common shares FreeFloat - Geographic Distribution
2% 2%
Controlling 9%
Shareholder and
9%
Management Brazil
34% FreeFloat United States
21% Canada
EU
66%
41% GDRs
Asia
Other
16%
BOVESPA (MMXM3) TSX (XMM)
MMXM3 is included in the Differentiated GDRs commenced trading on June 27, 2007
Corporate Governance Stock Index
GDR per share ratio of 1:1
Ordinary shares, 100% tag along
Depositary Bank: The Bank of New York
Successful IPO on July 24, 2006: US$ 509
million,
5
9. MMX – POSITIVE PROGRESS RECOGNIZED
MARKET CAP INCREASED 7x REACHING US$10 B
IRON ORE MARKET GROWTH
MANAGEMENT DELIVERING AS PROMISED
ADDED VALUE
7
10. NEW MMX
MMX is the exclusive vehicle for mining projects: now developing the 4th System
Amapá System Royalties
• Açu Pellet Plant Option
• Minas-Rio Royalties
MMX Corumbá System
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy
Semi-Finished: 0.5 Mtpy
MMX Sudeste System *
Iron Ore: 20 Mtpy
Engineer Eliezer Batista
Natural Reserve
New MMX includes marketable Securities + Cash + Royalties
* Former AVX Mineração
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11. MMX CORUMBÁ SYSTEM – MARKETING STRATEGY
Our Marketing strategy contemplates the sale of the production through Long Term Supply
Agreements.
Long Term Supply Agreements already signed with traditional steel companies.
Iron Ore 64% of iron ore
Customer Term Quantity production in 2008
AMERICAS 2007-2012 500 ktpa already commited
under existing LT
EUROPE 2007-2012 640 ktpa
Supply
Pig Iron Plant *** 700 ktpa Agreements.
Pig Iron
Customer Term Quantity Cargill´s take
AMERICAS 2007-2012 308 ktpa represents 75% of
total pig iron
production.
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12. MMX CORUMBÁ SYSTEM - TIMELINE
Total Production
3.5 4.9 4.9
1.5 2.1
0.7 0.1 0.4 0.4 0.2 0.4 0.5 0.4 0.5
2003 2004 2005 2006 2007 2008 2009 2010 2011
Engineering; Start-up Start-up Mini
Asset acquisitions begin Pig Iron Mill Corumbá
drilling Corumbá
Start-up Start-up
Corumbá second iron
Mine ore plant
Iron ore (Mt)
Pig iron (Mt)
Semi-finished (Mt)
MMX Corumbá System
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy
Semi-Finished: 0.5 Mtpy
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13. MMX SUDESTE SYSTEM* - HIGHLIGHTS
MMX AVG acquisition - concluded in December, 2007 for
US$224 million in 5 annual installments
Minerminas acquisition – concluded in March, 2008
for US$ 115,6 million in 7 semi-annual installments
Export contracts under negociation
New aquisitions to be concluded
Port Açu
Current sales – around 75% to the domestic market
Current logistics: MRS railway and Sepetiba Port
Future logistics: MRS railway system connecting to
Port Sudeste
Port
Sudeste
* Former AVX Mineração
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14. MMX SUDESTE SYSTEM* - TIMELINE
Total estimated capex of US$40 million for 2008+ 2009 approved MMX Sudeste*
High quality products – sinter feed (63%) + lump (21%)+ pellet feed (16%) AVG + Minerminas
Production capacity expantion to 20 Mtpy under analysis
New acquisitons
Engineering studies are being carried to define the capex for expansion
from 2009 UNDER UNDER
10 ANALYSIS ANALYSIS
6.6
6.1
2007 2008 2009 2010 2011 2012
Asset Studies to
acquisitions increase
capacity
* Former AVX Mineração
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15. MMX SUDESTE* – REGIONAL LOCATION
Mining Rights - lay Out
SOMISA (J Mendes)
J Mendes
Itatiaiuçu
Itatiaiuçu Santanense
Minerita
COMISA
Global (J Mendes)
Minerminas
EMICON
Serra da Farofa AVG + Minerminas
Pau de Vinho (J Mendes)
Esperança
*Former AVX Mineração
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16. LLX LOGÍSTICA S.A. – Highlights
LLX was created in March 2007, aimed at exploring the
significant growth potential in infrastructure and logistics
services through the development of major port systems in
the Southeast region of Brazil.
Its main strengths are:
Strategic locations and large back-areas;
Low-cost operational model;
Long Term contracts with diversified sectors and
synergies generated within the EBX Group;
Experienced management team;
Social and Environmental Responsibility.
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17. LLX – PROJECTS
LLX will build 3 major port systems in the Southeast region of Brazil
Port Açu - “Super Port”
Mixed-use terminal sized to berth carriers up to 200,000 tons
Back-area covering 7,800 ha
Draft of 18.5 m
Main Products: Iron Ore from MMX Minas-Rio Pipelines; steel, coal,
granite, ethanol/ oil derivatives, LNG and containers.
Port Sudeste
Port terminal located in the Itaguaí Industrial Area
Accessed by MRS railway
Best poised to capture transportation of Minas Gerais main Iron Ore producers
Draft of 18.5 m
Area covers 52.1 ha
Port Brasil - “Super Port”
Mixed-use port terminal
Total Area of 1,950 ha
Draft of 18.5 m
Main Products: Containers, iron ore, agricultural bulk, liquid bulk and fertilizers.
70 km from its main competitor, with huge competitive advantage: major
expansion area and 2x current container capacity
Every Port facilitiy has been designed to comply with ISPS (International Ship and Port Facility Security Code) regulations
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18. LLX – PORT AÇU
LLX Minas-Rio (Ore) / LLX Açu (non-Ore)
300ha back area; 7,500 ha of adjacent industrial complex
Connecting bridge; with: power plants, steel complex, oil
Access channel; industries, assembly plants among
Breakwater; others;
Dredging; Right to build additional berths;
Iron ore handling terminal at Port Açu 2 main revenue streams: 1) handling and
(economics supported by MMX Iron Ore services fees and 2) industrial area lease;
throughput, under a pre-established IRR Shared infrastructure agreement to be
target – 15% true-up clause). established with LLX Minas-Rio will give
LLX Açu access to the connecting bridge,
access channel and breakwater.
16
19. LLX – PORT BRASIL – Overview
Port Brasil is a private port located in São Paulo State, the country’s primary economy engine
Mixed-use port terminal designed for operating containers, iron ore, agricultural bulk, liquid bulk and
fertilizers . A major container player with a capacity of over 4 million TEUs to be reached modularly by 2032;
Deepest draft : 18.5 m, longest uninterrupted quay and largest yard among its competitors in Port of Santos,
designed to serve Super Containerships (> 11,000 TEUs) and Capesize vessels;
Direct link to rail (ALL) and a four-lane highway (Padre Manoel da Nobrega);
Located outside public port area, strong competitive advantage due to reduced costs.
One single operator, vis-à-vis Santos where shipping companies have to negotiate with several different
terminals;
One single back-area (Santos has several, in different sites of the port) thus avoiding the need of expensive
container repositioning;
Opportunity to consolidate operations in a single terminal with a contiguous industrial park which will house
several high value added industries such as electro-electronics ,metal mechanics and assemblers.
17
20. LLX – PORT BRASIL – Logistics Connections
Port Brasil will be connected by 1800 km of railway track (ALL) and by a four lane highway
(Padre Manoel da Nóbrega)
18
21. LLX – PORT SUDESTE
Main Activities:
The port is located in the State of Rio de Janeiro, adjacent to Itaguai Port at Sepetiba Bay. The whole
area of 512,000 m² is dedicated to iron ore operation.
Draft of 18.5 m.
The region is served by railway (MRS) and road (Coastal Highway BR-101); the federal government
has just approved investment in a road connecting the port area to the Rio-São Paulo highway;
The area is already available. Licensing and construction can be done in relatively short time;
operation of the iron ore terminal (storage and shipping) could start in 2011.
Iron Ore
Up to 25.0 mtpy 19
22. LLX – PORT SUDESTE
MMX Sudeste* iron ore logistics to Port Sudeste:
Port Sudeste
Overview
Igarapé
MRS
AVX
Port Açu
Port Sudeste
Currently Transportation contract secured with MRS and port access with CSN Sepetiba Terminal until 2011, when Port Sudeste starts up.
* Former AVX Mineração
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