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. *
MMXM3: SOLID CONTROLLING SHAREHOLDERS
16% Wisco
46% Controlling
Shareholders 14% SK Networks
24% Others
94.52% 100% 100% 100%
MMX Corumbá Minera MMX Superporto
MMX Sudeste
Mineração do Chile Sudeste
5.48% EBX
Serra Bom
Azul Sucesso
* Shareholders Ownership after capital increase: Controlling Shareholders (59.3%); Wisco (10.5%); SK Networks (8.8%); Others (21.4%) 4
5. HIGH QUALITY MINING ASSETS IN TRADITIONAL
MINING DISTRICTS
Two operating systems: Serra Azul and
Corumbá
Current Capacity: 10.8 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 – Sudeste System
through long-term contracts Serra Azul Unit
Bom Sucesso Unit
Corumbá System
Brownfield start up in Brazil
Expanding beyond 40 Mtpy in Brazil,
through fully integrated systems: Private Sudeste Superport
port
Strategic port location
5
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 59% 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)
6
7. A LOT HAS BEEN DELIVERED
December Beginning of the R$ 1.4 billion capital increase process
2012 BNDES approves allocation of long term financing for Serra Azul
Conclusion of the offshore civil works at the Sudeste Superport
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
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
2011 Deal with Usiminas
7
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
Offtakers (Shareholders)
Long-Term contract (20 years). Wisco will
off-take at least 50% of MMX Sudeste
production.
Mine Railway Superport
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 (9%).
Serra Azul unit is near to the MMX has a long term contract Sudeste Superport will have
MRS railway - 10 km from the with MRS railway, which connects 50Mtpy iron ore shipping
mine, a distance currently the mine with the CSN’s port and capacity. The Superport will have SK and Wisco will together
traversed by trucks. the Sudeste Superport, both a depth of 20 meters, enough to offtake 59% of total production
located in Itaguaí. handle Capesize vessels.
11
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.
14
15. SERRA AZUL
Expansion project with integrated logistic and pellet feed iron ore
Highlights
Production target: 29 Mtpy
59% 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
Beneficiation Grind Primary Crushing Primary Crushing Main Access
Pump House, Sump and Maintenance Workshop
Substation Water Storage Tank Water Storage Tank
Thickeners
Inc.
Construction Site Grind Piles Construction Site and Administrative
Warehouse Buildings
23. SUDESTE SUPERPORT
Overview
Licensed to 50 Mtpy, expandable to 100 Mtpy
Licensing for 100 Mtpy underway, public
hearing held on May, 2012
Navy Approval to 100 Mtpy
Loading: 2 ship loaders of 25 Mtpy each
Construction works for the tunnel and
offshore infrastructure completed
Fully funded (BNDES)
Sudeste Superport - Itaguaí
23
24. 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
24
27. Stockyard 32
Road Access Stacker Reclaimer
Infrastructure
Stacker Reclaimer
Rolling Way
Car Dumpers
Car Dumpers Control Room
Stockyard 6
Sudeste Superport
Stockyard Elevation 6 m
27
28. Control Room of Car
Dumpers
Train Positioners
Car Dumpers
Sudeste Superport
Car Dumpers 28
29. Tunnel Entrance
Electric Substation
Infrastructure
Transfer House
Concrete Base
Sudeste Superport
Stockyard Elevation 32 m
29
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)
Platform 2
Sudeste Superport
Bridges and Platform
31
38. CORUMBÁ
Highlights
Current Capacity: 2.1 Mtpy
Long-term contracts signed with local and
international barge operators
SRK audit resources report: 192 million tons
plus a potential of an additional 123 million
tons
38
39. Investor Relations
Carlos Gonzalez – CEO and IRO
Adriana Marques – Manager
Daniella Maia - Analyst
Phone + 55 21 2163-6197
+55 21 2163-4366
ri@mmx.com.br
