1. PROGRESS REPORT
PRESENTATION
BMO CAPITAL MARKETS
2007 GLOBAL RESOURCES
CONFERENCE
FEBRUARY 25 - 28

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
Rodolfo Landim – Director of Investor Relations
Elizabeth Cruz – Manager
Gina Pinto - Analyst
Tel. 55 21 2555-5634 / 5558/ 5563
ri@mmx.com.br
http://www.mmx.com.br/ri

3. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
A Newborn Company and an option for iron ore supply from Brazil…
High quality iron ore to be produced in three different regions in Brazil, from three
fully integrated independent systems
Successful IPO on July 24, 2006: US$ 509 million, the largest offering held in Brazil
Experienced management team to carry out and guarantee the execution of all
projects on time
Total iron ore production: 38 million tons per year from 2011 on
1

4. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
…with a Corporate Structure that allows participation of strategic partners…
70% 70% 70% 100%
MMX MMX MMX MMX
Corumbá Amapá Minas-Rio Metallics
(Mine+Railway+Port) (Mine+Pipeline+Port)
(30% Centennial Asset (30% Centennial Asset (30% Centennial Asset
Corumbá) Amapá) Minas-Rio)
► Cleveland Cliffs agrees to purchase Centennial Asset’s 30% stake in MMX Amapá for US$ 133 million
► Final closing expected for March 2007
2

5. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
…with bulk of investments in the early phase and increasing production that
will lead to free cash flows as early as 2009…
(in million t) (in US$ million)
40 1.120 1.200
1.021
38
30
31
800
580
20
19
400
10 254
52 9 2,4 2,4
1 4 1,8
0,2 0,7
- -
2006 2007 2008 2009 2010 2011
Iron Ore Metallics MMX EBITDA (70% Mines, 100% Metallics)
Note: EBITDA data estimated by Credit Suisse
Low cash cost in all systems, strong cash flow generation
Credit Suisse estimates US$ 1 billion EBITDA for 2011
3

6. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
…with financing advancing according to the Business Plan…
CAPEX – Distribution by System CAPEX – Sources
Pelletizing Plant
Debt - Being
US$ 0.4 B
structured
US$ 1.1 B
6%
25%
Corumbá Equity - MMX
Amapá US$ 0.6 B
Minas-Rio
69%
Equity - Strategic
Partners
US$ 0.2 B
Debt - Firm
commitment
US$ 1.3 B
TOTAL: US$3.6 billion
4

7. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
…and permitting being obtained as planned since the IPO…
Preliminary Environmental Licenses
August 22, 2006 -> Amapá Port Terminal
December 27, 2006 -> Minas-Rio Açu Port
Construction Licenses
August 16, 2006 -> Amapá Mine Processing Plant
August 17, 2006 -> Corumbá Pig Iron Plant
January 14, 2007 -> Corumbá Semi-Finished Plant
Operating License
August 16, 2006 -> Amapá Railway
5

8. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
…positive progress is being recognized by the capital market: market cap
reached an all time high US$ 2.3 billion…
Price (US$)
310
290
MMXM3: US$305
IBOV: 45,996pts
270
250
230
210
190
170
150
05-Aug-06
17-Aug-06
29-Aug-06
09-Nov-06
21-Nov-06
24-Jul-06
10-Sep-06
22-Sep-06
04-Oct-06
16-Oct-06
28-Oct-06
03-Dec-06
15-Dec-06
27-Dec-06
08-Jan-07
20-Jan-07
01-Feb-07
13-Feb-07
IBOV MMXM3
6

9. PROGRESS REPORT BRAZILIAN IRON ORE PRODUCER
…and will further improve with actions to increase liquidity…
Level I GDR Program initiated on February 5, 2007 – GDR per share ratio of 20:1
Toronto Stock Exchange: listing in Canada expected for March 2007
Stock split program
Date Ratio
January 2007 2 → 1 share
July 2007 2 → 1 share
January 2008 10 → 1 share
7

10. PROGRESS REPORT ENVIRONMENTAL RESPONSABILITY
…always conciliating economic development with nature preservation,
MMX’s policy. Mining companies have the obligation, like MMX, to
preserve large forest/wetland areas!
Eliezer Batista Natural Reserve – MMX´s commitment with environmental preservation, 50 thousand acres in
the most preserved area in South Pantanal.
8

11. GET ACQUAINTED
WITH MMX...

12. COMPANY PROFILE MMX INTEGRATED SYSTEMS
MMX Integrated Systems develop and operate iron
ore mines, pig iron and semi-finished plants and a
pelletizing plant.
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 Engineer Eliezer Batista
Semi-finished: 0.5 Mtpy Natural Reserve
1A

13. COMPANY PROFILE BOARD OF DIRECTORS & EXECUTIVE
OFFICERS
Eike Batista – Chairman & CEO
Board of Directors Board of Executive Officers
Michael Stephen Vitton Rodolfo Landim – Executive President and IR
Director
Eliezer Batista
Adriano Vaz – Administrative and HSEC Director
Independent Members: Dalton Nosé – Chief Operating Officer, Metallics
Gilberto Sayão Joaquim Martino – Chief Operating Officer,
Mining
Hans Mende Paulo Gouvêa – General Counsel
José Luiz Alqueres Ricardo Antunes – Commercial Director
Rudolph Ihns – Chief Financial Officer
Peter Nathanial
Raphael de Almeida Magalhães
Audit Commitee
Samir Zraick Samir Zraick
Carlos José da Silva Azevedo
Special Advisor:
Rivadávia Carsalade Herbster Gusmão
Amaury Temporal
2A

14. COMPANY PROFILE IRON ORE RESOURCES AND RESERVES
MMX Corumbá System
Mine 63 – lump (85%) and sinter feed (15%) production initiated in 2005
Drilling performed: 3,611 meters as of November 2006
Of the 21 mining rights, 3 were researched as of September 2006 (2 measured)
GEOLOGICAL RESOURCES – as of ÁPROJECT
RESOURCES CORUMB 31, 2006
March
MMX Amapá System
Resource
Drilling performed: 28,254 meters as of November 2006 Area AREA Classification Tonnage (MT)
Of the 18 mining rights, 3 were researched and measured
Mine 63 Indicated 65
Taboca and Indicated 220
MMX Minas-Rio System Vila do Meio Inferred 155
Pellet feed production to begin in 2009 Indicated 408
Itapanhoacanga
Inferred 159
Drilling performed: 19,736 meters as of November 2006
Of the 27 mining rights, 12 were researched as of November João Monlevade Inferred 147
2006 (5 measured) TOTAL 1,154
3A

15. COMPANY PROFILE PRODUCTION CAPACITY BY SYSTEM
CORUMBÁ AMAPÁ
Iron Ore 6.500 6.500
(1000 t)
Pig Iron
Semi Finished
4.870 4.870
4.300
3.260
2.000
AMAPÁ
1.300
1.000
810
375 400 452 490
196 309
56 55
2006 2007 2008 2009 2007 2008 2009 2010
MINAS-RIO
26.600 26.600
20.000
Iron Ore
Pellets
8.000
7.000 7.000
3.000
2009 2010 2011 2012 4A

16. COMPANY PROFILE LONG-TERM SUPPLY AGREEMENTS
Signed:
Gulf Industrial Investment Co.
20-year supply contract signed on November 9, 2006
6.5 Mtpy of iron ore fines from Amapá
Option for additional supply of 6.5 Mtpy of pellet feed from Minas-Rio to be exercised in March 2007
Supply agreement signed in January 2007
100% export production (excludes South America) - 308.000 tons / year of pig iron from Corumba
Final Negotiation:
Advanced negotiations under existing MOU for Minas-Rio
5A

17. COMPANY PROFILE LONG-TERM SUPPLY AGREEMENTS
Trial Cargoes:
LUCCHINI (Italy) – Received 40,000 t lump ore from Corumbá which is being tested as 23%
input in the blast furnace burden and has been presenting very good performance
VOESTALPINE (Austria) – 40,000 t lump ore from Corumbá will be sent early February for
testing in the blast furnace
ACEPAR (Paraguay) – Received 13,000 t lump ore from Corumbá which is being tested as
100% input in the charcoal blast furnace burden and has been presenting very good performance
6A

18. COMPANY PROFILE MMX CORUMBÁ SYSTEM
Mine currently operating under Federal
Environmental License
Tests performed by Lucchini (Steel Mill, potential
offtaker) – lump ore quality improves blast furnace
operational performance.
Mine 63 – Industrial Plant
7A

19. COMPANY PROFILE MMX CORUMBÁ SYSTEM
Pig Iron Plant Construction
Date: 01/19/2007
8A

20. COMPANY PROFILE MMX CORUMBÁ SYSTEM
Certified Charcoal Supply Program
Acquisition of two farms in 2006 as the first step
towards self-sufficiency in charcoal production
• Correntes Farm: 8,975 acres for
eucalyptus plantation (CVRD)
• Jatiuca Farm: 500 acres for the
construction of nursery
Hired the most renowned eucalyptus planting
company in Brazil – Plantar- to plant 48,250
acres in 5 years – in own and third-party lands
9A

21. COMPANY PROFILE MMX AMAPÁ SYSTEM
Primary Crushing
Date: 01/15/2007
10A

22. COMPANY PROFILE MMX AMAPÁ SYSTEM
Primary Screening
Date: 01/15/2007
11A

23. COMPANY PROFILE HIGH QUALITY IRON ORE
Additional iron ore resources from Serra do Sapo
Pelletizing tests performed by SGA/Germany
stated:
• high quality direct reduction (DR) grade
pellets can be produced with Minas-Rio
fines;
• Chemical analysis proves that the Fe
content is high at 68.84%, guangue
contents are low at about 0.9%
(SiO2+Al203)
Tests performed by Outokumpu – Lurgi/Germany
• preliminary test results indicates excellent
chemical, physical and metallurgical
properties as well as excellent productivity
in the pilot plant – final report to be
concluded by February
12A

24. COMPANY PROFILE MMX MINAS-RIO SYSTEM
Pipeline with approximately 525 km, passing by 32 municipalities;
Environmental impact study in approval process by IBAMA, Preliminary License
expected for 1Q07;
Detailed topography concluded, right of way to be concluded in September 2007.
13A

25. SUPER AÇU PORT
COMPANY PROFILE
A CONCEPTUAL PLAN
SIZE OF RETROAREA – 15,000 ACRES
Filtering Iron ore Offshore Pelletizing Petroleum Power Steel Tanking
area storage area support Plants processing Plants Plants facilities
infrastructure plants

26. COMPANY PROFILE RAILWAY INTERCONNECTION
Possibilities to interconnect MMX Systems to the existing railway systems
Option 1
Option 2
To be
constructed
by MMX
45km

27. COMPANY PROFILE 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).
16A

28. COMPANY PROFILE FINANCING
US$ 82 million US$ 250 million US$ 1 Billion
Mine -> US$ 32 million Mine & logistic -> US$ 250 US$ 50 million bridge loan
disbursed @ Libor + 2.7% - million credit facility with disbursed
-> increasing debt maturity Banco Itaú BBA and Banco
US$ 310 M -> 8-year
ABC, under a project
Metallics -> US$ 50 million financing for the acquisition
financing structure
bridge loan disbursed – to of Mining Rights
be converted in long-term
US$ 675 direct credit from
debt totaling US$ 150
Unibanco and Itaú BBA
million
17A

29. COMPANY PROFILE MMXM3 IN NOVO MERCADO - BOVESPA
Capital Stock – 7,607,756 common shares Geographic Distribution
Controlling FreeFloat
Shareholder and
Management 20%
28%
Brazil
United States
11%
Canada
EU
41%
(in US$ million)
70,0
Volume Traded
60,8
60,0
50,0
40,0 38,1
31,6
30,0
24,1
20,0
12,6
10,0
5,3 3,9 4,6
1,7 2,9
0,2 0,2 1,2 0,6
-
Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07
Total Daily Average 18A

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