3. 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
Rodolfo Landim – Investor Relations Officer
Elizabeth Cruz – Manager
Gina Pinto - Analyst
Tel. 55 21 2555-5634 / 5558/ 5563
ri@mmx.com.br
http://www.mmx.com.br/ri
4. COMPANY PROFILE MMX INTEGRATED SYSTEMS
MMX Amapá System
Iron Ore Fines: 6.5 Mtpy
Pig Iron: 2.0 Mtpy
Semi-finished: 0.5 Mtpy
MMX Minas-Rio System
Iron Ore: 26.6 Mtpy
Pellets: 7.0 Mtpy
MMX Corumbá System
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy
Natural Reserve
Semi-finished: 0.5 Mtpy
Engineer Eliezer Batista
MMX Integrated Systems develop and operate iron
ore mines, pig iron and semi-finished plants and a
pelletizing plant.
1
5. COMPANY PROFILE COMPANY OVERVIEW
MMX was created by a team of mining specialists led by Eike Batista
Experienced management team
Majority of members of the Board of Directors are independent
Independent Audit Committee
Focus on iron ore provided by high-quality products
Integrated mining operations and metallic plants connected to independent
logistics, structured in self-sufficient systems
Health, safety, environmental and social responsibility
Listed in the Novo Mercado - BOVESPA
2
6. COMPANY PROFILE EXPERIENCED MANAGEMENT TEAM
Eike Batista
Chairman & CEO
Special Advisors:
Flavio Godinho
Marcelo Cheniaux
1
1
Rodolfo Landim
Executive President
& IR Officer
2
2 3
3 4
4 5
5 6
6 7
7
Ricardo Antunes Adriano Vaz
Dalton Nosé Joaquim Martino Administrative/HSEC Paulo Gouvêa Rudolph Ihns
Metallics Officer Mining Officer Commercial/Develop. Legal Officer CFO
Officer Officer
1
1 Former CEO of BR Distribuidora (Petrobras) – 26 years 4
4 Former President of CVRD International – 22 years
2
2 Former Business Development Director of CVRD – 4 years 5
5 Former Banco Boavista and Brasil Telecom
3
3 Former CVRD Group Northern System Director – 24 years 6
6 9 years working in EBX Group
7
7 Former CFO of Unisys Brasil and Unisys Germany
Audit Commitee
Samir Zraick
Carlos José da Silva Azevedo
Rivadávia Carsalade Herbster Gusmão
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7. COMPANY PROFILE BOARD OF DIRECTORS
Eike Batista – Brazilian Mining Entrepreneur
Michael Stephen Vitton – Managing Officer of Nesbitt Burns (BMO)
Eliezer Batista – Former CEO of CVRD (VALE5), former Minister of Mines and Energy
Independent Members:
Gilberto Sayão – Partner and Managing Officer of Banco Pactual
Hans Mende – Officer and Partner of AMCI Group (Foundation Coal - FCL and Alpha Natural Resources - ANR)
José Luiz Alqueres – Former President of Eletrobrás (ELET6), Chairman of Alstom Brasil and CEO of Light
Peter Nathanial – Managing Officer of Citigroup (C) (Global Risk Oversight, Investments and Country Risk)
Raphael de Almeida Magalhães – Former Minister of Social Security
Samir Zraick – Former CFO of CVRD (VALE5), Board member of Embraer (EMBR4)
Special Advisor:
Amaury Temporal – Director of FIRJAN Intl. Business Center, Board member of ACRJ
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8. COMPANY PROFILE CORPORATE STRUCTURE
70% 70% 70% 100%
MMX MMX MMX
MMX
Corumbá Amapá Minas-Rio
(Mine+Railway+Port) (Mine+Pipeline+Port) Metálicos
Term Sheet signed with Cleveland Cliffs for the purchase of 30% stake in MMX
Amapá for US$ 133 million (approximately 39% premium over IPO value).
Centennial Asset is negotiating with strategic partners its 30% stake interest in
MMX Corumbá and MMX Minas-Rio Systems.
5
9. COMPANY PROFILE MMXM3 IN NOVO MERCADO - BOVESPA
IPO at the BOVESPA – July/2006
Successful IPO Largest offering held in Brazil then
(US$ terms)
R$ 1,119 million (US$ 509 million)
1,373,000 subscribed shares
Free float 32% of capital, 91% foreign-
held
TSX follow-on listing expected by year-end
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10. COMPANY PROFILE STOCK MARKET INFORMATION
Stock Trading Evolution (2006) Stock Split Program
Price Number of Volume Market Date Ratio
(US$) Trades Traded (3) Cap. (3)
July (1) 377 112 31.6 1,433 January 2007 2 → 1 share
August 381 20 38.1 1,449 July 2007 2 → 1 share
September 375 44 3.9 1,426
October 373 38 4.6 1,420 January 2008 10 → 1 share
November (2) 374 42 14.5 1,421
(1) Negotiation started on July 24 MMXM3 = price per share, minimum lot of 100 shares.
(2) As of November 9
(3) In US$ millions
Listing in Canada – Toronto Stock Exchange:
Auditing of MMX Systems´ resources and mineral reserves under way – Canadian
Standard NI-43.101 – disclosure is expected for December 06;
3Q06 USGAAP Financial Statements to be reported in December;
Level I Global Depositary Receipts (GDR) Program filed with the CVM in October 2006 -
GDR per Common Share ratio of 40:1 - estimated GDR CAD$10.55 (Nov 9 prices).
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11. OPERATIONAL STATUS MMX PROJECTS TIMELINE
Vertically Integrated High Value-Added Projects
37
31
19
Production of iron ore (Mt)
9
Production of pig iron (Mt)
4 1.5 1.5 1.0
Production of semi-finished (Mt) 0.7 0.1 1.3 0.5 1.0
1 0.2
2003 2004 2005 2006 2007 2008 2009 2010 2011
Engineering; Amapá Start-up Start-up Pellet
Start-up Mini Start-up Minas Plant
Asset acquisition beginning of Railway Amapá Mine Mill Corumbá -Rio System Minas-Rio
drilling Concession System
Start-up Start-up Start-up Pig Start-up Mini
Corumbá Pig Iron Iron Amapá Mill Amapá
Mine Corumbá
8
12. OPERATIONAL STATUS MMX SYSTEMS EVOLUTION
Permitting progress:
MMX Corumbá System:
- Mine currently operating under Federal Environmental License;
- Construction License granted for pig iron plant, construction of blast furnaces initiated in
September.
MMX Amapá System:
- Mine Construction License granted, leveling and dam works to be completed by December 2006,
100% of key equipment for the operation under contract with firm delivery dates;
- Railway Operating License granted, progress in equipment and railway repairs;
- Santana Port – Preliminary Environmental License granted, construction to begin at 1Q07.
MMX Minas-Rio System:
Iron ore Pipeline:
- Environmental impact study in approval process by IBAMA, Preliminary License expected for
1Q07;
- Detailed topography concluded, right of way to be concluded in mid 2007.
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13. OPERATIONAL STATUS ENVIRONMENTAL PERMITTING TIMELINE
MMX Systems
Corumbá
Mine and processing
Pig Iron Mill
Mini Mill
Amapá
Mine and processing
Port
Pig Iron Mill
Mini Mill
Minas-Rio
Mine and processing
Pipeline
Port
Pellet Plant
2005 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2006 2007 2008 2009 2010
PERMIT GRANTED
Preliminary License – approves project studies
PERMIT EXPECTED
Construction License – authorizes infra-structure works
Operational Start-up
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14. OPERATIONAL STATUS CAPEX DISBURSEMENT TIMETABLE
CAPEX – By System (US$ million) CAPEX – By Activity (US$ million)
2006 2007 2008 2009 - 2013 Total (*)
2,377
Corumbá 88 93 23 - 220
Mine 42 13 - - 72
Metallics 46 80 23 - 148
Amapá 87 294 382 153 915
1,225
Mine 60 54 38 - 152
Logistics 21 59 40 - 120 995
828
Metallics 5 181 304 153 643
543
Minas-Rio 134 772 1,133 427 2,466 330 283 297
254
Mine 100 282 348 241 971 54
Logistics 31 420 569 42 1,062
Pellet Plant 3 70 216 144 433
2006 2007 2008 2009 - 2013 Total (*)
Total 308 1,158 1,538 580 3,602 Mine & logistics Metallics
(*) includes 2005 figures
As of September 2006, expenditure of US$ 64.5 million.
Disbursement timetable under review, payments carried over to 2007 (approximately US$129 million).
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15. OPERATIONAL STATUS FINANCING
Financing in progress to carry out execution of Business Plan
US$ million
Project CAPEX Financing (1) Lenders Status
(1)
Status Term
Mine 2,378 1,744 ABC/Unibanco/
Corumbá 72 26 Itaú BBA/BNDES Disbursed 3 years
Amapá 273 200 Itaú BBA, ABC Firm Commitment 7/10 years
Minas-Rio 2,033 1,518 Unibanco/Syndicate/BNDES US$ 50 mm 12 years
Bridge Loan
Metallics 1,224 985
US$50 mm
Corumbá 148 150 Credit Suisse Bridge Loan 7 years
Amapá 643 510 Itaú BBA/BNDES - 10 years
Minas-Rio (Pellet Plant) 433 325 Itaú BBA/BNDES - 10 years
TOTAL 3,602 2,729
(1) Expected Weighted Average Cost of Borrowing: Libor + 1,5%, assuming 50% funding by BNDES.
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16. MMX CORUMBÁ SYSTEM CORUMBÁ SYSTEM
High quality lump iron ore in Mine 63 – lump (85%) and sinter feed (15%)
MMX expects to produce metals at competitive cash costs
Proven logistics in place
RESOURCES CORUMB
ÁPROJECT
GEOLOGICAL RESOURCES – as of March 31, 2006
Porto
Paraguai River
Ladário Resource
Corumbá Barge transportation Area Tonnage (MT)
20km AREA Classification
MMX by the Paraguay
Mines 63
Railroad River waterway
15km
Integrated Semi- Corumbá Mine 63 Indicated 65
Finished Plant
km
2022
TOTAL 65
San Nicolas Port
Capable of receiving
San Nicolas
Panamax vessels
MMX is currently undertaking a geologic research with shafts and a drilling campaign with 3 drill rigs
Drilling and excavation performed: 2,652 meters as of October 2006, 43% of drilling campaign
Planned drilling increased to 6,102 meters to be concluded in March, 2007
Of the 21 mining rights, 3 were researched as of September 2006 (2 measured)
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17. OPERATIONAL STATUS MMX CORUMBÁ TIMELINE
Vertically Integrated High Value-Added Projects
Production of iron ore (Mt)
Production of pig iron (Mt) 4.9 4.9 4.9 4.9
3.3
Production of semi-finished (Mt) 0.7 0.2 0.4 0.1 0.5 0.5 0.5
2003 2004 2005 2006 2007 2008 2009 2010 2011
Engineering; Construction Start-up Start-up Mini
Asset acquisitions beginning of License for Pig Iron Mill Corumbá
drilling Pig Iron Mill Corumbá
Start-up
Corumbá
Mine
Note: In 2008 Corumbá System reaches full pig iron capacity production of 0.4 Mt, which will be used to feed the semi-finished plant.
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18. MMX CORUMBÁ SYSTEM ENVIRONMENTAL RESPONSABILITY
Photo: Amolar Region, where Eliezer Batista Natural Reserve is located. 15
22. MMX AMAPÁ SYSTEM AMAPÁ SYSTEM
More than 370 million tonnes of iron ore resources as of March 2006
20-year supply contract with GIIC (Gulf Industrial Investment Co.) – already signed
Aggressive drilling campaign, on a 200m x 50m grid
Existing logistics in place, including operating railway
Capacity to export 6.5 Mtpy of high-grade sinter and pellet feed in capesize vessels, through
transshipping
Tax incentives available, reducing income tax by 75% for 10 years of operation
EFA Railway
GEOLOGICAL RESOURCES – as of March 31, 2006
RESOURCES CORUMB
ÁPROJECT
AMAPÁ Santana Port
20
0k
m
Capable of receiving
Capesize vessels Area Resource Tonnage (MT)
MMX
Mine
AREA Classification
Santana
Pig Iron
Port Mini-Mill
Plant
Taboca and Indicated 220
Vila do Meio Inferred 155
TOTAL 375
MMX is currently undertaking a drilling campaign with 8 drill rigs
Drilling performed: 25,827 meters as of October 2006, 80% of drilling campaign
Planned drilling: 32,180 meters to be concluded in March 2007
Of the 18 mining rights, 3 were researched and measured
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23. OPERATIONAL STATUS MMX AMAPÁ TIMELINE
Vertically Integrated High Value-Added Projects
Production of iron ore (Mt) 6.5 6.5 6.5
Production of pig iron (Mt) 4.3
1.5 1.5
Production of semi-finished (Mt) 0.8 0.3 1.3 0.1 0.5 0.5
2003 2004 2005 2006 2007 2008 2009 2010 2011
Engineering; Amapá Start-up Start-up Pig Start-up Mini
Asset acquisitions beginning of Railway Amapá Mine Iron Amapá Mill Amapá
drilling Concession
Construction
License for
Amapá Mine
Preliminary
License for
Santana Port
Note: In 2010 Amapá System reaches full pig iron capacity production of 2 Mt. Part of this output will be used to feed the semi-finished
plant.
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26. MMX MINAS-RIO SYSTEM MINAS-RIO SYSTEM
The MMX Minas-Rio System integrates world-class iron ore deposits with a port via a 26.6 Mtpy pipeline
MMX has acquired high-grade iron ore properties in Minas Gerais with 0.7 billion tons of resources as of
March 2006
MMX has also acquired an extensive port area of 1,900 hectares, enough to accommodate a 7 Mtpy
pelletizing plant
MMX MMX Pipeline GEOLOGICAL RESOURCES – CORUMB
RESOURCES as of March 31, 2006
ÁPROJECT
Mines Connecting MMX
Mines to Açu Port
Resource
Area Tonnage (MT)
55
AREA Classification
0Km Açu Port
Capable of receiving Indicated 408
Itapanhoacanga
capesize vessels Inferred 159
Açu Port
Steel Plant
TOTAL 567
Steel Plant
Process Area, Filtering Storage Piles João Monlevade Inferred 147
Area and Steel Plant
TOTAL 714
Administrative
Açu Port
Services
MMX is currently undertaking a drilling campaign with 14 drill rigs
Drilling performed: 18,927 meters as of October 2006, 67% of drilling campaign
Planned drilling: 28,274 meters to be concluded in March 2007
Of the 27 mining rights, 9 were researched as of September 2006 (5 measured)
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27. OPERATIONAL STATUS MMX MINAS-RIO TIMELINE
Vertically Integrated High Value-Added Projects
26.6
20.0
Production of iron ore (Mt) 8.0 7.0
Production of pellet (Mt) 3.0
2003 2004 2005 2006 2007 2008 2009 2010 2011
Beginning of Engineering Beginning of Start-up Start-up
Asset acquisitions drilling and drilling of pipeline, port and Minas -Rio Pellet Plant
pellet plant Minas-Rio
new areas System System
construction
Note: Beginning in 2010, part of the iron ore production will be used to feed the pellet plant.
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30. COMPANY PROFILE MULTIPLYING VALUE
Health, Safety,
Environmental
and Social
Responsibility Long term
Integrated and
independent supply
logistics relationships
Low production High value-added
cost at projects, vertically
competitive integrated
capital
expenditure
levels High quality
products
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