CORPORATE PRESENTATION
NOVEMBER 2006
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 – Investor Relations Officer
Elizabeth Cruz – Manager
Gina Pinto - Analyst
Tel. 55 21 2555-5634 / 5558/ 5563
http://www.mmx.com.br/ri
DISCLAIMER
Iron Ore Fines: 6.5 MtpyPig Iron: 2.0 MtpySemi-finished: 0.5 Mtpy
Iron Ore: 4.9 MtpyPig Iron: 0.4 MtpySemi-finished: 0.5 Mtpy
Natural ReserveEngineer Eliezer Batista
MMX Amapá System
MMX Minas-Rio System
MMX Corumbá System
Iron Ore: 26.6 MtpyPellets: 7.0 Mtpy
COMPANY PROFILE MMX INTEGRATED SYSTEMS
MMX Integrated Systems develop and operate iron
ore mines, pig iron and semi-finished plants and a
pelletizing plant.
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COMPANY OVERVIEWCOMPANY PROFILE
2
� MMX was created by a team of mining specialists led by Eike Batista
� Experienced management team
� Majority of members of the Board of Directors are independent
� Independent Audit Committee
� Focus on iron ore provided by high-quality products
� Integrated mining operations and metallic plants connected to independent
logistics, structured in self-sufficient systems
� Health, safety, environmental and social responsibility
� Listed in the Novo Mercado - BOVESPA
22 Former Business Development Director of CVRD – 4 years
33 Former CVRD Group Northern System Director – 24 years
44 Former President of CVRD International – 22 years
55 Former Banco Boavista and Brasil Telecom
66 9 years working in EBX Group
77 Former CFO of Unisys Brasil and Unisys Germany
Dalton NoséMetallics Officer
Joaquim MartinoMining Officer
Ricardo AntunesCommercial/Develop.
Officer
Paulo GouvêaLegal Officer
Rudolph IhnsCFO
Special Advisors:
Flavio GodinhoMarcelo Cheniaux
22 33 44 55 66 77Adriano Vaz
Administrative/HSECOfficer
Eike BatistaChairman & CEO
Rodolfo LandimExecutive President
& IR Officer
11
11 Former CEO of BR Distribuidora (Petrobras) – 26 years
COMPANY PROFILE EXPERIENCED MANAGEMENT TEAM
� Samir Zraick
� Carlos José da Silva Azevedo
� Rivadávia Carsalade Herbster Gusmão
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Audit Commitee
Eike Batista – Brazilian Mining Entrepreneur
Michael Stephen Vitton – Managing Officer of Nesbitt Burns (BMO)
Eliezer Batista – Former CEO of CVRD (VALE5), former Minister of Mines and Energy
Gilberto Sayão – Partner and Managing Officer of Banco Pactual
Hans Mende – Officer and Partner of AMCI Group (Foundation Coal - FCL and Alpha Natural Resources - ANR)
José Luiz Alqueres – Former President of Eletrobrás (ELET6), Chairman of Alstom Brasil and CEO of Light
Peter Nathanial – Managing Officer of Citigroup (C) (Global Risk Oversight, Investments and Country Risk)
Raphael de Almeida Magalhães – Former Minister of Social Security
Samir Zraick – Former CFO of CVRD (VALE5), Board member of Embraer (EMBR4)
Amaury Temporal – Director of FIRJAN Intl. Business Center, Board member of ACRJ
Special Advisor:
BOARD OF DIRECTORSCOMPANY PROFILE
Independent Members:
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MMXMetálicos
MMXCorumbá
COMPANY PROFILE CORPORATE STRUCTURE
Term Sheet signed with Cleveland Cliffs for the purchase of 30% stake in MMX
Amapá for US$ 133 million (approximately 39% premium over IPO value).
Centennial Asset is negotiating with strategic partners its 30% stake interest in
MMX Corumbá and MMX Minas-Rio Systems.
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70% 100%70% 70%
MMXAmapá
(Mine+Railway+Port)
MMXMinas-Rio
(Mine+Pipeline+Port)
IPO at the BOVESPA – July/2006
Largest offering held in Brazil then
(US$ terms)
COMPANY PROFILE MMXM3 IN NOVO MERCADO - BOVESPA
� Successful IPO
� R$ 1,119 million (US$ 509 million)
� 1,373,000 subscribed shares
� Free float 32% of capital, 91% foreign-held
� TSX follow-on listing expected by year-end
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COMPANY PROFILE
Listing in Canada – Toronto Stock Exchange:
� Auditing of MMX Systems´ resources and mineral reserves under way – Canadian
Standard NI-43.101 – disclosure is expected for December 06;
� 3Q06 USGAAP Financial Statements to be reported in December;
� Level I Global Depositary Receipts (GDR) Program filed with the CVM in October 2006 -
GDR per Common Share ratio of 40:1 - estimated GDR CAD$10.55 (Nov 9 prices).
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STOCK MARKET INFORMATION
Date Ratio
January 2007 2 → 1 share
July 2007 2 → 1 share
January 2008 10 → 1 share
Stock Split Program
(1) Negotiation started on July 24(2) As of November 9(3) In US$ millions
Stock Trading Evolution (2006)
MMXM3 = price per share, minimum lot of 100 shares.
Price Number of Volume Market(US$) Trades Traded (3) Cap. (3)
July (1) 377 112 31.6 1,433 August 381 20 38.1 1,449 September 375 44 3.9 1,426 October 373 38 4.6 1,420 November (2) 374 42 14.5 1,421
Vertically Integrated High Value-Added Projects
2010
Start-up Pellet PlantMinas-Rio System
2003 2004 2005
Asset acquisition
Start-up CorumbáMine
2009
Start-up Minas -Rio System
Start-up MiniMill Amapá
2006
AmapáRailwayConcession
2008
Start-up MiniMill Corumbá
Start-up PigIron Amapá
Start-upPig Iron Corumbá
2007
Start-upAmapá Mine
Engineering; beginning of drilling
2011
Production of iron ore (Mt)
Production of pig iron (Mt)
14
9
19
3137
0.2 0.7 1.3 1.5 1.5Production of semi-finished (Mt) 0.1 0.5 1.0 1.0
OPERATIONAL STATUS MMX PROJECTS TIMELINE
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OPERATIONAL STATUS
Permitting progress:
� MMX Corumbá System:
- Mine currently operating under Federal Environmental License;
- Construction License granted for pig iron plant, construction of blast furnaces initiated inSeptember.
� MMX Amapá System:
- Mine Construction License granted, leveling and dam works to be completed by December 2006, 100% of key equipment for the operation under contract with firm delivery dates;
- Railway Operating License granted, progress in equipment and railway repairs;
- Santana Port – Preliminary Environmental License granted, construction to begin at 1Q07.
� MMX Minas-Rio System:
���� Iron ore Pipeline:
- Environmental impact study in approval process by IBAMA, Preliminary License expected for
1Q07;
- Detailed topography concluded, right of way to be concluded in mid 2007.
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MMX SYSTEMS EVOLUTION
MMX Systems
CorumbáMine and processingPig Iron MillMini Mill
AmapáMine and processingPortPig Iron MillMini Mill
Minas-RioMine and processingPipelinePortPellet Plant
2005 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q220102006 2007 2008 2009
Preliminary License – approves project studiesConstruction License – authorizes infra-structure works
PERMIT GRANTED
PERMIT EXPECTED
Operational Start-up
OPERATIONAL STATUS ENVIRONMENTAL PERMITTING TIMELINE
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OPERATIONAL STATUS CAPEX DISBURSEMENT TIMETABLE
� As of September 2006, expenditure of US$ 64.5 million.
� Disbursement timetable under review, payments carried over to 2007 (approximately US$129 million).
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CAPEX – By System (US$ million)
254
828995
283
2,377
54
330
543
297
1,225
2006 2007 2008 2009 - 2013 Total (*)
Mine & logistics Metallics
(*) includes 2005 figures
CAPEX – By Activity (US$ million)2006 2007 2008 2009 - 2013 Total (*)
Corumbá 88 93 23 - 220 Mine 42 13 - - 72 Metallics 46 80 23 - 148
Amapá 87 294 382 153 915 Mine 60 54 38 - 152 Logistics 21 59 40 - 120 Metallics 5 181 304 153 643
Minas-Rio 134 772 1,133 427 2,466 Mine 100 282 348 241 971 Logistics 31 420 569 42 1,062 Pellet Plant 3 70 216 144 433
Total 308 1,158 1,538 580 3,602
US$ millionUS$ million
Status (1)Status
US$50 mmBridge Loan
-
-
Disbursed
Firm CommitmentUS$ 50 mmBridge Loan
OPERATIONAL STATUS FINANCING
2,378
72
273
2,033
1,224
148
643
433
3,602TOTAL
Metallics
Corumbá
Amapá
Minas-Rio (Pellet Plant)
Mine
Corumbá
Amapá
Minas-Rio
CAPEXProject Financing (1)
1,744
26
200
1,518
2,729
985
150
510
325
ABC/Unibanco/Itaú BBA/BNDES
Itaú BBA, ABC
Unibanco/Syndicate/BNDES
Lenders
Credit Suisse
Itaú BBA/BNDES
Itaú BBA/BNDES
Term
3 years
7/10 years
12 years
7 years
10 years
10 years
Financing in progress to carry out execution of Business Plan
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(1) Expected Weighted Average Cost of Borrowing: Libor + 1,5%, assuming 50% funding by BNDES.
� High quality lump iron ore in Mine 63 – lump (85%) and sinter feed (15%)
� MMX expects to produce metals at competitive cash costs
� Proven logistics in place
RESOURCES CORUMBÁPROJECT
AREAAreaResource
Classification Tonnage (MT)
Indicated 65
� MMX is currently undertaking a geologic research with shafts and a drilling campaign with 3 drill rigs
� Drilling and excavation performed: 2,652 meters as of October 2006, 43% of drilling campaign
� Planned drilling increased to 6,102 meters to be concluded in March, 2007
� Of the 21 mining rights, 3 were researched as of September 2006 (2 measured)
Paraguai River
Corumbá
San Nicolas
2022 k
m
MMX Mines 63
Railroad
Integrated Semi-Finished Plant
Corumbá
PortoLadário
20km Barge transportation by the Paraguay River waterway
San Nicolas Port
Capable of receiving
Panamax vessels
15km
Mine 63
TOTAL 65
MMX CORUMBÁ SYSTEM CORUMBÁ SYSTEM
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GEOLOGICAL RESOURCES – as of March 31, 2006
Start-upPig Iron Corumbá
Vertically Integrated High Value-Added Projects
20102003 2004 2005
Asset acquisitions
Start-up CorumbáMine
20092006 2008
Start-up MiniMill Corumbá
2007
Engineering; beginning of drilling
2011
Production of iron ore (Mt)
Production of pig iron (Mt)
0.73.3
4.9
0.2 0.4Production of semi-finished (Mt) 0.1 0.5
OPERATIONAL STATUS MMX CORUMBÁ TIMELINE
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4.9 4.9
0.5
4.9
0.5
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.
Construction License for Pig Iron Mill
MMX CORUMBÁ SYSTEM ENVIRONMENTAL RESPONSABILITY
Photo: Amolar Region, where Eliezer Batista Natural Reserve is located. 15
INDUSTRIAL PLANT – MINE 63MMX CORUMBÁ SYSTEM
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PIG IRON PLANT CONSTRUCTION MMX CORUMBÁ SYSTEM
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EUCALYPTUS PLANTATION MMX CORUMBÁ SYSTEM
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� More than 370 million tonnes of iron ore resources as of March 2006
� 20-year supply contract with GIIC (Gulf Industrial Investment Co.) – already signed
� Aggressive drilling campaign, on a 200m x 50m grid
� Existing logistics in place, including operating railway
� Capacity to export 6.5 Mtpy of high-grade sinter and pellet feed in capesize vessels, through
transshipping
� Tax incentives available, reducing income tax by 75% for 10 years of operation
� MMX is currently undertaking a drilling campaign with 8 drill rigs
� Drilling performed: 25,827 meters as of October 2006, 80% of drilling campaign
� Planned drilling: 32,180 meters to be concluded in March 2007� Of the 18 mining rights, 3 were researched and measured
MMX AMAPÁ SYSTEM AMAPÁ SYSTEM
RESOURCES CORUMBÁPROJECT
AREAArea Resource Classification
Tonnage (MT)
IndicatedInferred
220155
Taboca andVila do Meio
TOTAL 375
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GEOLOGICAL RESOURCES – as of March 31, 2006
MMX Mine
Santana Port
Pig IronMini-Mill Plant
200km
EFA Railway
AMAPÁCapable of receiving
Capesize vessels
Santana Port
Vertically Integrated High Value-Added Projects
20102003 2004 2005
Asset acquisitions
2009
Start-up MiniMill Amapá
2006
AmapáRailwayConcession
2008
Start-up PigIron Amapá
2007
Start-upAmapá Mine
Engineering; beginning of drilling
2011
Production of iron ore (Mt)
Production of pig iron (Mt)
0.84.3
6.5 6.5 6.5
0.3 1.31.5 1.5
Production of semi-finished (Mt) 0.5
OPERATIONAL STATUS MMX AMAPÁ TIMELINE
20
0.1 0.5
Note: In 2010 Amapá System reaches full pig iron capacity production of 2 Mt. Part of this output will be used to feed the semi-finishedplant.
ConstructionLicense for Amapá Mine
PreliminaryLicense for Santana Port
MMX AMAPÁ SYSTEM
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TABOCA HEADQUARTERS
MMX AMAPÁ SYSTEM CONSTRUCTION PROGRESS
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� MMX is currently undertaking a drilling campaign with 14 drill rigs
� Drilling performed: 18,927 meters as of October 2006, 67% of drilling campaign
� Planned drilling: 28,274 meters to be concluded in March 2007
� Of the 27 mining rights, 9 were researched as of September 2006 (5 measured)
Açu Port
MMX Mines
550 K
m
Açu Port
Steel Plant
Connecting MMX Mines to Açu Port
Process Area, FilteringArea and Steel Plant
Capable of receiving capesize vessels
Açu Port
Steel Plant
MMX MINAS-RIO SYSTEM MINAS-RIO SYSTEM
� The MMX Minas-Rio System integrates world-class iron ore deposits with a port via a 26.6 Mtpy pipeline
� MMX has acquired high-grade iron ore properties in Minas Gerais with 0.7 billion tons of resources as of
March 2006
� MMX has also acquired an extensive port area of 1,900 hectares, enough to accommodate a 7 Mtpy
pelletizing plant
RESOURCES CORUMBÁPROJECT
AREA
GEOLOGICAL RESOURCES – as of March 31, 2006
Area Resource Classification
Tonnage (MT)
Indicated Inferred
408159Itapanhoacanga
TOTAL 567
Inferred 147João Monlevade
TOTAL 714
MMX Pipeline
Storage Piles
AdministrativeServices
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Beginning of pipeline, port and pellet plant construction
Start-up Pellet PlantMinas-Rio System
Vertically Integrated High Value-Added Projects
20102003 2004 2005
Asset acquisitions
2009
Start-up Minas -Rio System
2006 20082007
Beginning of drilling
2011
Production of iron ore (Mt)
Production of pellet (Mt)
8.0
20.0
26.6
OPERATIONAL STATUS MMX MINAS-RIO TIMELINE
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Engineering and drilling of new areas
3.0
7.0
Note: Beginning in 2010, part of the iron ore production will be used to feed the pellet plant.
ITAPANHOACANGA AND SERRA DO SAPO AIRVIEWMMX MINAS-RIO SYSTEM
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AÇU SUPER PORTMMX MINAS-RIO SYSTEM
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High value-added projects, vertically
integrated
High qualityproducts
Low production cost at
competitive capital
expenditure levels
Long term supply
relationships
Integrated and independent
logistics
MULTIPLYING VALUE
Health, Safety, Environmental
and Social Responsibility
COMPANY PROFILE
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