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
Beatriz Yoshinaga - Assistant
Tel. + 55 21 2555-6197/ 6338/ 4240 2
ri@mmx.com.br
3. Higher EBITDA ever
2010 AxA
Sales 7.2 million tons 53%
Gross Revenues R$ 784.8 million 132%
Gross Profit R$ 427.2 million 232%
EBITDA R$ 120.6 million 126%
Net Profit (R$ million) G&A / Gross Revenue
100 40% 36%
46.6
0
20%
-100 (185.1) 12%
-200 0%
2009 2010 2009 2010 3
6. Resources audit at Corumbá and Sudeste
by SRK Consulting
Drilling Audit Resources Additional potential
Meters Measured Indicated Inferred Total Potential
Sites Fe% Fe%
Drilled (Mt) (Mt) (Mt) (Mt) (Mt)
MMX Corumbá 7.390 53 87 52 192 51.3 123 50.0
Serra Azul 24.170 584 315 10 909 38.9 570 33.0
Bom Sucesso 4.610 365 365 29.9 741 27.7
MMX Sudeste 28.780 584 315 375 1.274 36.3 1.311 30.0
Pau de Vinho ¹ 875
Chile ² 290
MMX Total 36.170 638 402 427 1.466 38.3 2.599 31.7
Wet basis
¹ According to the Usiminas Mineração´s estimates
² According to the Company´s estimates
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7. VTO – Next steps
Estimated Date Main Events
1. November 29, 2010 LLX Spin Off withdrawal period ends
√
2. December 8, 2010 MMX board of directors’ meeting approves the OPA for the shares of PortX and
√ recommending that the shareholders general meeting approve the issuance of
the Royalties Securities and the appraisal report for PortX shares
3. December 15, 2010 Filing of the VTO Documents with the CVM
√
4. January 21, 2010 MMX general meeting approves the issuance of the Royalties Securities, the
√ appraisal report for PortX shares.
5. March 25, 2011¹ CVM approves the VTO Documents and issues the VTO registration
6. April 1, 2011 MMX publishes the VTO Edital
VTO acceptance term begins
7. May 2, 2011 VTO acceptance term ends
8. May 3, 2011 MMX board of directors’ meeting approves the increase of the corporate
capital and the issuance of the exact amount of Royalties Securities
9. May 3, 2011 VTO auction proceeding takes place at the BM&FBOVESPA
10. May 9, 2011 First trading day of the newly issued shares and Royalties Securities
11. May 10, 2011 Financial settlement of the BM&FBOVESPA auction
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¹ The schedule was delayed due to usual BM&FBovespa comments on the VTO Edital draft
8. Main effects of adopting IFRS
Recognition of Stock Options granted by the controlling shareholder as
General and Administrative expenses
Capitalization for Works in Progress and intangible of interest on loans
previously accounted for as financial expenses
Exclusion of effect of subsidiary MMX Corumbá Metal since the company
discontinued this business in 2009
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