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.
4. HIGH QUALITY MINING ASSETS IN TRADITIONAL
MINING DISTRICTS
Mining rights in traditional iron ore districts:
Brazil – Minas Gerais and Chile
Production committed with strategic consumers
– China and South Korea – through long-term
contracts
Brownfield start up in Brazil
Expanding beyond 40 Mtpy in Brazil and Chile,
Sudeste System
through fully integrated systems: with private Serra Azul Unit
Corumbá System Bom Sucesso Unit
ports in Brazil
Unique port location Chile System
Sudeste Superport
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6. INGREDIENTS FOR A SUCCESSFUL IRON ORE
BUSINESS
SRK certification: 3,1 billion tons of mineral resources, and further mineral
Resource Base
potential of up to 1,4 billion tons. Reserves of 1 billion tons in Serra Azul.
Low stripping ratio
Competitive Competitive scale – New beneficiation plant
Production Cost
Structure Energy supply contract with MPX
Integrated infrastructure with the existing MRS railway
Sudeste Superport at 50 Mtpy, expandable to 100 Mtpy, provides gateway to
Guaranteed
seaborne markets
Logistics
Long Term Railway Contract with MRS
Secured Off-take 64% of future production already committed through long-term contracts
Operational Track Experience management team with implementation and operational expertise
Record Installed Capacity of 10 Mtpy (Serra Azul and Corumbá sites)
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7. A LOT HAS BEEN DELIVERED
May
2012
Beginning of construction of the Serra Azul Unit expansion
Installation License authorizing the Serra Azul Unit expansion
MMX signs contract for railway services with MRS through 2026
SRK certified 997,4 million tons of mineral reserves at Serra Azul Unit
EIA-RIMA filed for Sudeste Superport expansion to 100 Mtpa
Orders for long lead equipment for Serra Azul expansion
EPCM contract with CNEC Worley Parsons for Serra Azul expansion
Contract with MPX for energy supply for expansion of Serra Azul
Preliminary license of the Serra Azul expansion
Financial advisory contract with Itaú BBA and Bradesco
Acquisition of 99,1% of PortX shares
Deal with Usiminas
February
2011
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11. UNIQUE INTEGRATED LOGISTICS
Since Iron ore is a bulk commodity, an integrated logistic (mine
railway 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%).
MMX has a long term contract Sudeste Superport is located in
Serra Azul unit is near to the
with MRS railway, which connects Itaguaí and will have 50Mtpy iron Long-Term contract (20 years). Wisco will
MRS railway - 10 km from the
the mine with the CSN’s Itaguaí ore shipping capacity. The Superport off-take at least 50% of MMX Sudeste
mine, a distance currently
port and to the Sudeste will have a depth of 20 meters, production.
traversed by trucks.
Superport. enough to handle Capesize vessels.
SK and Wisco will together
offtake 64% of total production
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14. SERRA AZUL
Expansion project with integrated logistic and pellet feed iron ore
Highlights
Production target: 29 Mtpy
64% of production already committed through long-term
contracts
997.4 million tons of reserves already secured by SRK
Execution Update
Beginning of construction of Serra Azul Unit expansion
Construction license issued in April, 2012
Acquisiion of gyratory crushers, ball mills, SAG mills and
vertical mills for the new beneficiation plant
Contract with CNEC WorleyParsons
Contract with MPX to supply power for 15 years at a
base-price of R$125/MWh
Expected Quality – Ouro Preto pilot plant test work
Fe: 67.0% P: 0.03%
SiO2: 3.5% Mn: 0.5%
AL2O3: 0.5% LOI: 0.25%
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18. MRS CONTRACT
MMX signed a long term contract for railway services
Contract signed on December 28th 2011.
Long term contract through 2026.
Provides for a volume of up to 36 million tons of iron ore per year.
Tariff: R$ 26.463/ton , net of tax, readjusted annually by a parametric
formula the variation in IGP-DI and in diesel oil.
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22. SUDESTE SUPERPORT
Overview
Highlights
50 mtpy capacity, expandable to 100 mtpy
Capesizes handling
Loading: 2 ship loaders of 25 Mtpy each
Fully funded (BNDES)
Start-up forecast: 2Q13
100% of equipment already ordered
Licensing for 100 Mtpy underway
Sudeste Superport - Itaguaí
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23. SUDESTE SUPERPORT
Overview
Highlights
Public hearing for 100 Mtpy held on May, 2012
Tunnel: Meeting of the two excavation fronts as
of September 2011
EIA-RIMA for 100 Mtpy filed with Inea in
September 2011
Licensed to 50 Mtpy
Navy Approval to 100 Mtpy
Sudeste Superport - Itaguaí
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38. USIMINAS AGREEMENT
Pau de Vinho Joint Mining Sudeste Superport Handling
SRK resources audit : 810 million tons Handling fee: USD 12.63/ton adjusted
plus a potential 75 million tons by US-PPI
Pau de Vinho target production: 8 Mtpy
Volumes:
Significant synergies with current
mining operations at Serra Azul ■ 12 Mtpy
13.5% of production at Pau de Vinho
80% Take-or-Pay
will be delivered to Usiminas
MMX will be responsible for the
licensing, CAPEX and operation for 30 Usiminas can renew the contract for 1
years to 5 years
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40. BOM SUCESSO
High-quality iron ore with high magnetite content
Highlights
Production target: 10 Mtpy
64% of production already committed through long-term
contracts
Execution Update
Conceptual engineering
SRK resources audit update: 365 million tons plus a
potential of 741 million tons
Expected Quality – Ouro Preto pilot plant test work
Fe: 67.2% P: 0.033%
SiO2: 2.5% PPC: 0.6%
AL2O3: 0.5% FeO: 8.8%
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42. CHILE
Highlights
High-quality iron ore with magnetite content
Production target: 10 Mtpy
50% of production already committed through long-
term contracts
460 Mt of iron ore potential
Execution Update
Castilla Port fully licensed
Drilling performed 2011: approximately 43
thousand meters
Water permits
Expected Quality – Ouro Preto pilot plant test
work
Fe: 67.50% SiO2: 2.5%
Al2O3: 0.85% P: 0.015%
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43. CHILE
Castilha Port
Fully Licensed Port
Deep water port – 28 meter draft: Chinamax vessels
Shared construction with MPX (Sister Company)
BERTH N° 1 – COAL
BERTH N° 2 – IRON ORE
BERTH N° 3 – COPPER
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45. CORUMBÁ
Highlights
Current Capacity: 2.1 Mtpy
Long-term contracts signed with local and international
barge operators
77% of production already committed through long-term
contracts
SRK audit resources report: 192 million tons plus a
potential of an additional 123 million tons
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