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CORPORATE PRESENTATION
JULY 2007
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.
SUMMARY – MMX INTEGRATED SYSTEMS
Highlights.......................................................... 01
Integrated Systems – Geographic Location...... 02
Geological Resources and Reserves............... 03
MMX Corumbá System
Project Timeline................................................ 04
Project Progress Update.............................. 05 and 06
MMX Amapá System
Project Timeline................................................ 07
Project Progress Update.................................. 08
MMX Minas-Rio System
Project Timeline............................................... 09
Project Details.................................................. 10
LLX Logística
Açu Port........................................................... 11
Highlights........................................................ 12
MMX Mineração e Metálicos S.A.
Corporate Structure...........................................13
MMX and Anglo American.................................14
CAPEX..............................................................15
MMXM3 in Novo Mercado.................................16
Stock Performance............................................17
Toronto Stock Exchange...................................18
Corporate Governance......................................19
Main Events in 2006 and 2007.....................20 and 21
Board of Directors & Executive Officers............22
4
HIGHLIGHTS
Successful IPO on July 24, 2006: US$ 509 million, the largest offering held in Brazil then.
High quality iron ore to be produced in three different regions in Brazil, from three fully integrated independent systems -> 38 million ton/year from 2011.
Experienced management team to carry out and guarantee the execution of all projects on time.
LLX Logística: additional value for MMX’s shareholders and development of opportunities in logistics.
Anglo American and MMX sign definitive share purchase contract for the 49% interest in MMX Minas-Rio on May 14, 2007.
GDRs listed in TSX, trading commenced on June 27, 2007.
Committed to the best Corporate Governance practices.
An option for iron ore supply from Brazil and new opportunities in logistics
1
Iron Ore Fines: 6.5 MtpyPig Iron: 2.0 Mtpy
Semi-Finished: 0.5 Mtpy
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy
Semi-Finished: 0.5 MtpyEngineer Eliezer BatistaNatural Reserve
Iron Ore Fines: 26.6 Mtpy
Pellets: 7.0 Mtpy
MMX Integrated Systems develop and operate iron ore mines, pig iron and semi-finished plants and development of independent logistics.
MMX INTEGRATED SYSTEMS
MMX Corumbá System
MMX Amapá System
MMX Minas-Rio System
2
MMX - Corumbá MMX - Amapá
Itapanhoacanga J. Monlevade Sapo Serro Mina 63 Total
( Mt ) ( Mt ) ( Mt ) ( Mt ) ( Mt ) ( Mt ) ( Mt )
Measured/ Indicated
301.3 - - - 47.2 73.6 422.1
89.8 133.3 - - 14.2 104.5 341.8
225.0 1480.0 422.0 150.0 2277.0
MMX - Minas-Rio Project
Inferred
Conceptual
GEOLOGICAL RESOURCES AND RESERVES
3
Of the total 53 mining rights, 10 were researched in the first phase of the geological research programand are now certified, 6 are being researched, and 37 mining rights remains to be researched.
Drilling performed since March 2006: 36,033 meters in 540 drill holes and 4,294 samples.
Note: Data as of March, 2006
Source: NI 43-101 reports
Re-certification of resources and reserves planned for the end of 2007 with database up to July 2007.
MMX CORUMBÁ SYSTEM - TIMELINE
4
Start-upPig Iron Corumbá
Vertically Integrated High Value-Added Projects
20102003 2004 2005
Asset acquisitions
Start-up Corumbá Mine
20092006 2008
Start-up MiniMill Corumbá
2007
Engineering; begin drilling
2011
Production of iron ore (Mt)
Production of pig iron (Mt)
0.72.2 2.9
0.1 0.4Production of semi-finished (Mt) 0.2
3.5 4.9
0.5
4.9
0.5
Construction License for Pig Iron Mill
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.
0.3
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy
Semi-Finished: 0.5 Mtpy
MMX Corumbá System
Start-up second iron ore plant
Total estimated capex: US$234 million
Corumbá mines – total capex : US$72 million
Pig Iron Plant – revised capex expected to amount US$86.1 million
Mine 63 – industrial plant operating since December 2005
Production capacity of 3.1 million tons/year of lump (85%) and sinter feed (15%).
Tests performed by Lucchini (Steel Mill, offtaker) – lumpore quality improves blast furnace operationalperformance
Pig Iron Plant – Construction License granted in August 2006, construction initiated in September 2006
Start-up scheduled for July 2007
Supply agreement signed with Cargill in January 2007
Semi-finished Plant – Construction License granted in December2006
MMX CORUMBÁ SYSTEM
5
Acquisition of two farms in 2006 and due in 2007 as the firststep towards self-sufficiency in charcoal production (total area of 6,004 ha)
Hired the most renowned eucalyptus planting company in Brazil – PLANTAR – to plant 48,250 acres (19,300 ha) in 5 years – in own and third-party lands
Eliezer Batista Natural Reserve – MMX’s commitment withenvironmental preservation, 50 thousand acres ( 20 thousand ha ) in the most preserved area in SouthPantanal
MMX CORUMBÁ SYSTEM
MMX policy: conciliate economic development withnature preservation
6
MMX AMAPÁ SYSTEM - TIMELINE
7
Vertically Integrated High Value-Added Projects
20102003 2004 2005
Asset acquisitions
2009
Start-up Mini
Mill Amapá
2006
AmapáRailwayConcession
2008
Start-up PigIron Plant
2007
Start-upAmapá Mine
Engineering; begin
drilling
2011
Production of iron ore (Mt)
Production of pig iron (Mt)
0.44.8
6.5 6.5 6.5
0.3 1.3Production of semi-finished (Mt)
ConstructionLicense for Amapá Mine
PreliminaryLicense for Santana Port
2012
1.50.50.1
6.5
Note: In 2012 Amapá System reaches full pig iron capacity production of 2 Mt. Part of this output will be used to feed the semi-finished plant.
Iron Ore Fines: 6.5 Mtpy
Pig Iron: 2.0 Mtpy
Semi-Finished: 0.5 Mtpy
MMX Amapá System
Total estimated capex: US$990 million
Amapá Mine – revised capex expected to amount US$357 million
Amapá Mine – Construction License granted in August 2006, construction initiated in September 2006.
Start-up scheduled for 4Q07, production capacity of 6.5 million tons/year of iron ore.
20-year supply contract signed with Gulf Industrial Investment Co.( GIIC) in November 2006.
Amapá Railway – 20-year concession contract.
Railway under operation connecting the mine to theport in Santana.
Santana Private Port Terminal – Permit for construction and operation received from ANTAQ in January 2007; Operating License granted in April2007.
MMX AMAPÁ SYSTEM
8
MMX MINAS-RIO SYSTEM - TIMELINE
9
Beginning
construction of pipeline and port
Vertically Integrated High Value-Added Projects
20102003 2004 2005
Asset acquisitions
2009
Start-up
Minas -Rio System
2006 20082007
Begin
drilling
2011
Production of iron ore (Mt)
Production of pellet (Mt)
8.0
20.0
26.6
Engineering
and drilling of new areas
Note: Beginning in 2011, part of the iron ore production will be used to feed the pellet plant.
2012
26.6
7.0
3.0
Start-up Pellet PlantMinas-Rio System
Iron Ore Fines: 26.6 Mtpy
Pellets: 7.0 Mtpy
MMX Minas-Rio System
Beginning pellet plant
construction
Total estimated capex: US$2.7 billion
Mine + pipeline + port = revised capex expected to amount US$2,354 million
Additional geologic resources;
Iron ore production of 26.5 million tons/year from2011;
Off takers – GIIC and Trading Co. (9 milliontons/year);
Pelletizing tests performed by SGA andOutokumpu – Lurgi confirms high quality of thepellets.
Pipeline with approximately 525 km, crossing 32 municipalities;
Public hearings concluded on April 20, 2007;
Detailed topography concluded, right of way to beconcluded in September 2007.
Negotiations with 60% of the landowners (out of a total 1,017) in the course of the pipeline have been concluded.
MMX MINAS-RIO SYSTEM
10
Filtering Area Iron ore
storage area
Offshore
support
infrastructure
Pelletizing
Plants
Petroleum
processing
plants
Power Plants Steel Plants
LLX LOGÍSTICA S.A.
Tanking
facilities
11
AÇU PORT Industrial area in the southeast of Brazil, region thatconcentrates 65% of Brazil’s GDP.
Size of retroarea: 15,000 acres (6,000 ha).
Construction License granted on May 14, 2007
Permit for construction and operation received fromANTAQ on June 20, 2007
12
LLX LOGÍSTICA S.A. - HIGHLIGHTS
Sound economic fundamentals will underpin Brazil’s next high growth cycle
Trade will play a key role in the process, raising substantially the demand for logistics system
Brazil is underinvested in its infrastructure and provides outstanding opportunities for companies to invest in this sector
Isolation of logistics assets allows a better perception of its value, thus attracting a more focused
analyst community and new investors
Independent management
Management focused in finding new opportunities in logistics
Key Elements considered in the creation of LLX:
LLX Logística S.A. holding company for MMX’s logistics division.
LLX Minas-Rio Logística S.A. 300-hectare iron ore port facility at the Açu Port.
LLX Açu Operações Portuárias S.A. remaining port area (5,700 hectares – 14,250 acres ).
13
MMX Corumbá
30% CentennialAsset Corumbá
70%
MMX Amapá
30% ClevelandCliffs
70%
MMX Amapá – transaction with Cleveland Cliffsclosed on March 5, 2007.
MMX Minas-Rio – definitive share purchasecontract with Anglo American signed on May14,2007.
MMX Corumbá – under negotiation for strategicpartner.
MMX entered into an agreement for the acquisitionof AVG Mineração S.A. on July 5, 2007 – Minas-Rio has the right to replace MMX as a buyer.
CORPORATE STRUCTURE Participation of Strategic Partners
Minas-Rio Project
49% Anglo American
51%
MMX MetálicosMMX Minas-Rio
49% Anglo American
100%
LLX Logistica
100%
30% Centennial Asset
LLX Açu Oper. Portuária SA.
70%
LLX Minas-Rio Logística SA
51%
100% / 51%
AVG
100%
14
MMX and Anglo American - A Compelling Transaction
Agreement with blue-chip Anglo American confirms MMX’s status as the best development-
stage iron ore asset outside the majors
Powerful combination of MMX’s skill sets in Brazil with Anglo American’s globally renowned
capabilities to develop and operate premium assets
Perfect strategic fit, given Anglo American’s future growth strategy and long standing
experience in Brazil
Joins two successful teams with experienced professionals
Significant reduction in MMX Minas-Rio’s future capital requirements
Unlocks value for MMX shareholders
US$ 704mm to Centennial Asset and US$ 874mm capital contribution to the Minas-Rio Companies, pre-money valuation of US$ 2,347mm for 100% Minas-Rio Companies
US$ 346mm to Centennial Asset and additional capital contribution of US$ 526mm to the Minas-Rio Companies, implying a pre-money valuation of US$ 3,500mm for 100% Minas-Rio Companies and a post-money total valuation of US$ 4.9mm.
Second step depends on the estimated capacity expansion – Anglo American will then have a 50% stake in Minas-Rio.
Transaction in two steps:
15
CAPEX INFORMATION
Debt - Firm Commitment
US$ 2.2 B
Debt - to be defined
US$ 0.8 B
Equity US$ 0.9 B
742
2,038248
679
985
2,956
175 59
Corumbá Amapá Minas-Rio Total
Debt Equity
234
990
2,717
3,941
TOTAL: US$3.9 billion
CAPEX - Sources CAPEX Composition
Total funding for MMX Minas-Rio project concluded.
Firm commitment with major banks in Brazil and with BNDES.
MMX Amapá: US$467 million
MMX Minas-Rio: US$270 million
MMX Corumbá: US$15 million
16
ControllingShareholder and
Management
FreeFloat
68%
32%
Capital Stock – 7,607,756 common shares FreeFloat - Geographic Distribution
1,0%
41%16%
26%16%
Brazil
United States
Canada
EU
Other
MMXM3 is included in the Differentiated Corporate Governance Stock Index
Stock split program initiated in January 2007 – second stock split scheduled for July 2007(2:1) ;
third stock split in January 2008 (10:1)
MMXM3 IN NOVO MERCADO - BOVESPA
17
Positive progress is being recognized by the capital market: market cap reached US$ 4.1 billion
MMXM3 IN NOVO MERCADO - BOVESPA
MMXM3 186,5 %IBOVESPA 70,8 %
MMXM3 X IBOVESPA
MMXM3
IBOV
20,00
100,00
180,00
260,00
340,00
420,00
500,00
580,00
660,00
24/jul
9/ago
1/set
20/set
2/out
23/out
7/nov
27/nov12/dez28/dez12/jan
24/jan
6/fev
21/fev
5/mar
15/mar
27/mar
9/abr
19/abr
2/mai
14/mai
24/mai
5/jun
18/jun
28/jun
0,00
5,00
10,00
15,00
20,00
25,00
30,00
35,00
40,00
Price (US$) Volume (US$) million
18
MMX’s GDRs commenced trading on the Toronto Stock Exchange on June 27, 2007
GDR per share ratio of 20:1
Ticker Symbol: XMM
CUSIP: 60688E102
Procedure for purchasing: contact broker or The Bank of New York (XMM’s Depositary Bank)
GDRs are also negotiated in the US OTC exchange under the ticker MMXMY
TORONTO STOCK EXCHANGE GDR LISTING
The Bank of New York
Shareholder Relations Department
P.O. Box 11258
Church Street Station
New York, New York 10286-1258
US: 1-888-BNY-ADRS
Intl. Callers: 1-212-815-3700
19
MMX CORPORATE GOVERNANCE
Commited to the best corporate governance practices:
Board of Directors composed of 9 members, 6 independent with 1-year mandate
Audit Committee composed of 3 members, all independent
Hiring independent auditors according to internationally accepted criteria
Capital stock composed entirely of common shares, with 100% tag along
Free float greater than 25%
Stock Option program for the executives, with no dilution for minority shareholders
Corporate Policy for disclosing information to the public
Ethics Code
Arbitration for solving corporate issues
20
MMX entersNovo Mercado
MMX AmapáConstructionLicense (Mining)
MMX AmapáCleveland Cliffsproposes to buy30% stake
MMX AmapáPreliminary License(Port)
Minas-Rio SystemSGA concludes ironore tests
CVM authorizesLevel I GDR Program
Minas-Rio SystemPreliminaryLicense (Açu Port)
Amapá SystemReceivedauthorization for private portconstruction
Corumbá SystemConstructionLicense (Semi-finished plant)
First Stock Split2 for 1
MMX AmapáCleveland CliffsClosing & CAPEX increase
MMX Minas-RioCorporatereorganizationcreation of LLX
MMX Minas-Rio IBAMA establishespublic hearingsprogram for pipeline
07/25/06 08/23/06
08/16/06
10/20/06
09/21/06
12/27/06 01/25/07 03/22/07 03/27/07
12/01/06 01/15/07 03/05/07 03/26/07
GIIC increases pellet feed supply contractto 13 million tons
MMX MAIN EVENTS IN 2006 AND 2007
21
MMX CorumbáInjuction stopspig iron plantconstuction
04/11/07 05/08/07 05/14/07
MMX CorumbáInjunction is revoked, pig ironplant constructionresumes
MMX Minas – Rio & Anglo American Closing
04/23/07 05/09/07 05/30/2007
MMX & Anglo American agree onsale of 49% interestin MMX Minas-Rio iron ore project
CorporateReorganizationcreation of twosubsidiariesunder LLX
MMX Minas- Rio ConstructionLicense(Açu Port)
GDRs listingapproved byToronto StockExchange (TSX)
MMX’s Mineral Resources andReserves obtainNI43-101 certification
MMX MAIN EVENTS IN 2006 AND 2007
06/20/07
MMX Minas-Rio receives permit for construction andoperation fromANTAQ (Açu Port)
GDRs commencetrading on TSX
07/27/07
07/05/07
MMX executes contract for theacquisition of AVG Mineração S.A.
22
Board of Directors
EliezerBatista
Chairman & CEO
Eike Batista
Michael StephenVitton
Gilberto Sayão
Hans Mende
Peter Nathanial
Raphael de Almeida
Magalhães
Samir Zraick
Amaury Temporal
Independent Members
Board of Executive Officers
Executive PresidentInvestor Relations
Rodolfo Landim
Adriano Vaz
Audit Commitee
Samir Zraick
José Luiz Alqueres
Special Advisor
José Luiz Alqueres Dalton Nosé
Joaquim Martino
Nelson Guitti
Paulo Gouvêa
Peter Nathanial
Chief CommercialOficcer
Ricardo Antunes
General Counsel
Chief Financial Officer
Chief OperatingOfficer, Mining
Chief OperatingOfficer, Metallics
Administrative & HSEC Officer
MMX - BOARD OF DIRECTORS & EXECUTIVE OFFICERS
JoséLuiz AmaranteExecutive
Commercial Director
Integrated andIndependent
logistics
High value-addedprojects, vertically
integrated
Mineral Resourceswith characteristics
that enablehigh quality
ptoducts
Health, Safety,Environmental
And SocialResponsibility
Experiencedmanagement
team
Long termsupply
relationships
Low productioncost at
competitivecapital
expenditurelevels
WWW.MMX.COM.BR
MMX MULTIPLYING VALUE
Investor Relations
Rodolfo Landim – Director
Elizabeth Cruz – Manager
Gina Pinto - Analyst
Tel. 55 21 2555-5634 / 5558/ 5563
