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.
5. HIGH QUALITY MINING ASSETS IN TRADITIONAL
MINING DISTRICTS
Two operating systems: Serra Azul and Corumbá
Current Capacity: 10.1 Mtpy
Mining rights in traditional iron ore districts:
Brazil (Minas Gerais and Mato Grosso do Sul)
Production committed with strategic consumers –
China and South Korea – through long-term
contracts
Brownfield start up in Brazil Sudeste System
Serra Azul Unit
Corumbá System Bom Sucesso Unit
Expanding beyond 40 Mtpy in Brazil, through
fully integrated systems: Private port
Strategic port location
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
Infrastructure with integrated logistics
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
November Conclusion of the offshore civil works at the Sudeste Superport
2012 Issuance of debentures at the amount of R$ 600 million
Approval of the merger of PORTX into MMX
Public hearings in Itaguaí and Mangaratiba for the expansion of the Sudeste
Superport to 100 Mtpy
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
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
Financial advisory contract with Itaú BBA and Bradesco
February
Deal with Usiminas
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). Wisco will
off-take at least 50% of MMX Sudeste
production.
MMX has a long term contract Sudeste Superport will have
Serra Azul unit is near to the Long-Term contract (20 years) to trade iron
with MRS railway, which connects 50Mtpy iron ore shipping
MRS railway - 10 km from the ore. SK will take-off part of the Sudeste
the mine with the CSN’s port and capacity. The Superport will have
mine, a distance currently System yearly production equivalent to its
the Sudeste Superport, both a depth of 20 meters, enough to
traversed by trucks. participation in MMX Capital (14%).
located in Itaguaí. handle Capesize vessels.
SK and Wisco will together
offtake 64% of total production
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14. 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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15. 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
Acquisition 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: 66.65% P: 0.025%
SiO2: 3.23% Mn: 0.018%
AL2O3: 0.54% LOI: 0.75%
15
19. SERRA AZUL
Earthwork
Grind
Sump and Processing
Thickners Construction
Pile Site and
Benefic.
Warehouse
substation
Maintenance
Primary workshop
Construction
Crushing Administrative
Site
Buildings
1
23. SUDESTE SUPERPORT
Overview
Highlights
50 Mtpy capacity, expandable to 100
Mtpy
Capesizes handling
Loading: 2 ship loaders of 25 Mtpy each
Fully funded (BNDES)
Licensing for 100 Mtpy underway
Sudeste Superport - Itaguaí
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24. SUDESTE SUPERPORT
Overview
Highlights
Licensed to 50 Mtpy
Licensing for 100 Mtpy underway
Public hearing for 100 Mtpy held on May, 2012
Navy Approval to 100 Mtpy
Construction works for the tunnel and offshore
infrastructure completed
Sudeste Superport - Itaguaí
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25. 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 of an additional 75 by US-PPI
million tons
Pau de Vinho target production: 8 Mtpy Volumes:
■ 12 Mtpy
Significant synergies with current
mining operations at Serra Azul 80% Take-or-Pay
13.5% of production at Pau de Vinho
Usiminas can renew the contract for 1
will be delivered to Usiminas
to 5 years
MMX will be responsible for the
licensing, CAPEX and operation for 30
years
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27. Stockyard 32
Road Access Stacker Reclaimer
Infrastructure
Stacker Reclaimer
Rolling Way
Stockyard 6
Car Dumpers Car Dumpers Control Room
Sudeste Superport
Stockyard Elevation 6 m
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28. Train Positioners
Control Room of Car
Dumpers
Car Dumpers
Sudeste Superport
Car Dumpers
28
29. Tunnel Entrance
Transfer House
Electric Substation Concrete Base
Infrastructure
Sudeste Superport
Stockyard Elevation 32 m
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30. 11 m
20.5 m
Sudeste Superport
Tunnel entrance
30
31. Tunnel Exit
Bridge 1 (430 m)
Electric Substation Building
Bridge 2 (270 m)
Sudeste Superport Platform 2
Bridges and Platform
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37. 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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