Corporate Presentation - January 2012

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Corporate Presentation - January 2012

  1. 1. MMX: CREATING CHOICES IN SEABORNE IRON ORESUPPLYRio de Janeiro | January 2012
  2. 2. 1A UNIQUE STORY
  3. 3. INGREDIENTS FOR A SUCCESSFUL IRON OREBUSINESS Guaranteed Owned Sudeste Superport at 50 Mtpy, expandable to 100 Mtpy, provides gateway Logistics to seaborne markets.Competitive Cost Integrated infrastructure, with the existing MRS railway providing an efficient link Structure between mine and portStrong Resource SRK certification: 3.1 billion tons of mineral resources, and further mineral Base potential of up to 1.4 billion tons Solid Financial Strong balance sheet and project fundamentals to attract competitive funding Position Current operations provide strong FCFOperational Track Experienced management team with implementation and operational expertise. Record Installed Capacity of 10 Mtpy (Serra Azul and Corumbá sites)Secured Offtake 64% of future production already committed through long-term contracts. 3
  4. 4. THE ONLY ONE OF ITS KINDMMX Uniqueness Production committed to important global consumers –China and South Korea – through long-term contracts Brownfield start up Expanding beyond 50 Mtpy in Brazil and Chile, throughfully integrated systems: own deep water Chinamax enabledsuperports and pipelines Sudeste System Serra Azul Unit Unique port location and strong balance sheet leverage Bom Sucesso Unitsignificant value creation through consolidation of stranded Corumbá Systemiron ore resources in the Southeast of Brazil Chile System Strong cash generation Sudeste Superport Proven track record delivering value to shareholders Location
  5. 5. FINANCIAL HIGHLIGHTS EBITDA (R$ million) Sales (million ton)90 2,0 72.8 75.2 61.6 0.8 0.760 0.6 1,030 1.3 1.5 1.1 0 0,0 3Q10 2Q11 3Q11* 3Q10 2Q11 3Q11 *excluding non recurent itens MI ME Net Profit (R$ million) Debt profile 100% 50 88.5 90.9 -50 54% 63% 73% (243.2) 50%-150 46% 37%-250 27% 3Q10 2Q11 3Q11 0% 3Q10 2Q11 3Q11 Short Term Long Term
  6. 6. 2SUDESTE SYSTEM
  7. 7. UNIQUE INTEGRATED LOGISTICSSince Iron ore is a bulk commodity, an integrated logistic (minerailway port) is the key factor for a successful operation Mine Railway Superport Offtakers (Shareholders) Long-Term contract (20 years) to trade iron ore. SK will take-off part of the Sudeste System yearly production equivalent to its participation in MMX Capital (14%).Serra Azul unit is near to the MMX has a long term contract Sudeste Superport is located inMRS railway - 10 km from the with MRS railway, which connects Itaguaí and will have 50Mtpy iron Long-Term contract (20 years). Wisco willmine, a distance currently the mine with the CSN’s Itaguaí ore shipping capacity. The Superport off-take at least 50% of MMX Sudestetraversed by trucks. port and to the Sudeste will have a depth of 20 meters, production. Superport. enough to handle Capesize vessels. SK and Wisco will together offtake 64% of total production
  8. 8. Iron ore Quadrangle QUADRILÁTERO FERRÍFERO
  9. 9. RAILWAYRailway access conecting MRS to the Sudeste Superport
  10. 10. SERRA AZULGrowth through consolidation while leveraging existinginfrastructure
  11. 11. SERRA AZULSerra Azul Unit Expansion Project Pit New Beneficiation Plant, transmission line and water pipelines, Stockyard and Loading Terminal
  12. 12. Serra Azul ExpansionBeneficiation Plant
  13. 13. Sudeste SuperportLocation
  14. 14. Offshore Nautical Access Tunnel Stockyard 06 Stockyard 32Sudeste SuperportArtistic View Railway Access
  15. 15. SUDESTE SUPERPORTOverviewHighlights 50 mtpy capacity, expandable to 100 mtpy Capesizes handling Loading: 2 ship loaders of 25 Mtpy each Fully funded (BNDES) Start-up forecast: 1Q13 100% of equipment already ordered Licensing for 100 Mtpy underway Sudeste Superport - Itaguaí
  16. 16. SUDESTE SUPERPORTOverviewHighlights Tunnel: Meeting of the two excavation fronts as of September 2011 EIA-RIMA for 100 Mtpy filed with Inea in September Licensed to 50 Mtpy Navy Approval to 100 Mtpy Sudeste Superport - Itaguaí
  17. 17. Sudeste SuperportRailway access
  18. 18. Sudeste SuperportStockyard Elevation 6 m
  19. 19. Sudeste SuperportCar Dumpers Elevation 6 m
  20. 20. Sudeste SuperportMariquita Hill
  21. 21. Sudeste SuperportStockyard Elevation 32 m
  22. 22. 11 m 20.5 mSudeste SuperportTunnel entrance
  23. 23. Sudeste SuperportTunnel exit
  24. 24. Bridge 450 mSuperporto SudesteOffshore Structure - Bridge
  25. 25. Superporto SudesteOffshore StructureBridge and Pier Pier 766 m Bridge 250 m
  26. 26. Superporto Sudeste Offshore Structure Ilha da Madeira
  27. 27. SUDESTE SUPERPORTCAPEX and Funding Funding: BNDES FINAME - PSI CAPEX Total Amount: R$ 407.1 mm Actual Forecast Interest Rate per Year: 4.50% Amortization: 8 years 1.276 Grace Period: 2 years Funding: BNDES FINEM Total Amount: R$ 805.1 mm 286 Interest Rate per Year: TJLP + 2.18% 649 86 40 63 Amortization: 10 years Grace Period: 2 years2007 2008 2009 2010 2011 to Requested Supplementary Funding : R$ 552 2013 million
  28. 28. SUDESTE SUPERPORTConstruction schedule 1S09 2S09 1S10 2S10 1S11 2S11 1S12 2S12 1S13Preliminary LicenseConstruction LIcenseFunding BNDES FINAME-PSIANTAQ LicenseFunding BNDES FINEMCivil Construction: Stockyard 06 Stockyard 32 Tunnel Offshore Road-rail accessEquipment sett up: Car dumpers Shiploader Stacker reclaimer Belt conveyor
  29. 29. Investor Relations Guilherme Escalhão – CEO and IRO Camila Anker– Manager Rafaela Gunzburger – Analyst Beatriz Yoshinaga - AnalystTel. + 55 21 2555-6197/ 6338/4240 ri@mmx.com.br

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