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
Nelson Guitti – Director
Elizabeth Cruz – Manager
Gina Pinto - Analyst
Tel. 55 21 2555-5634 / 5558/ 5563
ri@mmx.com.br
4. MMX & Anglo American Transaction
Corporate Structure after Restructuring and the approval of Anglo’s proposal
MMX current Controlling Current Minority
shareholders Shareholders & Shareholders of MMX
of MMX
100% 100% 57% 43%
IronX
MMX Metálicos
70% 51% 70% 51% 70%
100%
MMX ( 1 ) MMX ( 2 ) MMX ( 3 ) AVX LLX LLX
Amapá Minas-Rio Corumbá Mineração Minas-Rio Açu
30% 49% 30% 49% 30%
Cleveland Cliffs Centennial Asset Centennial Asset
Corumbá Participações
Logística
( 1 ) Includes 100% of Metallics Amapá; ( 2 ) Includes MMX´s option in 50% of future Pelletizing Plant; (3) Includes 100% of Metallics Corumbá
2
5. MMX & Anglo American Transaction
Transaction Timeline
Announcement of the Transaction: January 17, 2008
Execution of Share Purchase Agreement signing between Anglo and Controller: March 31, 2008
MMX’s Board meeting to approve restructuring and call of Shareholders’ Meeting: immediately after
Share Purchase Agreement is executed
Restructuring approval at MMX’s shareholders’ meeting: approximately 30 days after Board Meeting
Controller stake sale financial closing: immediately after Shareholders Meeting
IronX and LLX listing on Bovespa: immediately after restructuring (note that this process can be
initiated before the Board Meeting, in order to expedite the process and respect timeliness)
IronX’s remaining shareholders’ tag along offer: after public listing of IronX and consequent CVM
public offering registration
Further annoucements will be made in due course upon execution of the definitive transaction documents
3
6. NEW MMX
MMX is the exclusive vehicle
for mining projects
Amapá System Royalties
• Açu Pellet Plant Option
• Minas-Rio Royalties
MMX Corumbá System
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy AVX Mineração
Semi-Finished: 0.5 Mtpy
Iron Ore: 10 Mtpy
Engineer Eliezer Batista
Natural Reserve
New MMX includes marketable Securities + Cash + Royalties
4
7. MMX CORUMBÁ SYSTEM - TIMELINE
Total Production
3.5 4.9 4.9
1.5 2.1
0.7 0.1 0.4 0.4 0.2 0.4 0.5 0.4 0.5
2003 2004 2005 2006 2007 2008 2009 2010 2011
Engineering; Start-up Start-up Mini
Asset acquisitions begin Pig Iron Mill Corumbá
drilling Corumbá
Start-up Start-up
Corumbá second iron
Mine ore plant
Iron ore (Mt)
Pig iron (Mt)
Semi-finished (Mt)
MMX Corumbá System
Iron Ore: 4.9 Mtpy
Pig Iron: 0.4 Mtpy
Semi-Finished: 0.5 Mtpy
5
8. AVX AVG and Minerminas acquisition
AVX AVG acquisition - concluded in December, 2007 for
US$224 million in 5 annual installments
Minerminas acquisition – concluded in March, 2008
for US$ 115,6 million in 7 semi-annual installments
AVX current iron ore production capacity: 2.9 Mtpy
of fines and lump
Production capacity to increase up to 8 Mtpy – total
estimated capex of US$40 million for 2008-2009
approved
Export contracts under negociation
Port Açu
Current sales – around 75% to the domestic market
Current logistics: MRS railway and Sepetiba Port
Capacity expansion to 10-12 Mtpy under analysis
Future logistics: MRS railway system connecting to
Port Sudeste
Port
Sudeste
6
9. AVX MINERAÇÃO - TIMELINE
AVX Mineração
Total estimated capex of US$40 million for 2008+ 2009 approved
High quality products – sinter feed (63%) + lump (21%)+ pellet feed (16%) AVG + Minerminas
Production capacity expantion to 10-12 Mtpy under analysis New acquisitons
New acquisitions to be concluded
UNDER UNDER
10 ANALYSIS ANALYSIS
6.6
6.1
2007 2008 2009 2010 2011 2012
Asset Studies to
acquisitions increase
capacity
Engineering studies are being carried to define the capex for expansion from 2009.
7
10. LLX LOGÍSTICA S.A. – Highlights
LLX was created in march 2007, aimed at exploring the
significant growth potential in infrastructure and logistics
services through the development of major port systems in
the Southeast region of Brazil.
Its main strengths are:
Strategic locations and large back-areas;
Low-cost operational model;
Long Term contracts with diversified sectors and
synergies generated within the EBX Group;
Experienced management team;
Social and Environmental Responsibility.
8
11. LLX – PROJECTS
LLX will build 3 major port systems in the Southeast region of Brazil
Port Açu - “Super Port”
Mixed-use terminal sized to berth carriers up to 200,000 tons
Back-area covering 7,800 ha
Draft of 18.5 m
Main Products: Iron Ore from MMX Minas-Rio Pipelines; steel, coal,
granite, ethanol/ oil derivatives, LNG and containers.
Port Sudeste
Port terminal located in the Itaguaí Industrial Area
Accessed by MRS railway
Best poised to capture transportation of Minas Gerais main Iron Ore producers
Draft of 18.5 m
Area covers 52.1 ha
Port Brasil - “Super Port”
Mixed-use port terminal
Total Area of 1,950 ha
Draft of 18.5 m
Main Products: Containers, iron ore, agricultural bulk, liquid bulk and fertilizers.
70 km from its main competitor, with huge competitive advantage: major
expansion area and 2x current container capacity
Every Port facilitiy has been designed to comply with ISPS (International Ship and Port Facility Security Code) regulations
9
12. LLX – TIMELINE
Carve Out
LLX is carved out of MMX and begins operations as an independent company
Anglo American buys 49% stake in LLX Minas-Rio
OTPP acquired 15% of LLX Logistica
2006 2007 2008 2009 2010 2011 2012
Development Development Operations
Minas - Rio
Detailing of the Construction Start up
project License
Environmental ANTAQ
License authorization
Construction
Construction
begins
Development Development Construction Operations
Detailing of the Construction Start up
project Begins
Açu
ANTAQ
authorization
Environmental
License Construction
License
Development Development Development Construction Operations
Project begin to Environmental Construction Completion Start up
be developed License License
Brasil
ANTAQ
authorization
Construction
Construction
begins
Development Development Development Operations
Project begin to Environmental Construction Start up
Sudeste
be developed License License
ANTAQ
authorization
Construction
Construction
begins
10
13. LLX LOGÍSTICA S.A. – MANAGEMENT
Management Team
Management Team Experience
Experience
Engineer Degree from PUC-RJ and Master´s degree from the Imperial College in London.
Ricardo Antunes 23 years of experience at CVRD
Former CEO of Rio Doce International
CEO Co-founder of MMX
Masters degree in Economics from PUC-RJ and PhD in Finance. Held Yale Universitiy´s
certificate in Corporate Governance.
Government experience at BNDES, Ministry of Finance and as Director of Brazil´s
Eliane Aleixo Lustosa Antitrust Agency. Former VP and CFO of Grupo Abril, Globex and Petrobras Pension
Fund (Petros).
Chief Financial Officer
Current board member of the Brazilian Institute of Corporate Governance (IBGC). Former
board member of several public companies (Perdigão, CPFL, Coteminas, Telet, Americel
and Tele Norte Celular).
Mechanical Engineer (UFES) and MBA in COPPEAD/UFRJ
José Salomão 23 years of experience in the design, implementation and operation of port terminals (iron
ore, coal, pig iron, fertilizers, agricultural baul, containers and general cargo).
Chief Development Officer Held executive positions in Porto de Tubarão, Porto de Praia Mole, TVV, Pasha Terminal
– Los Angeles, Docenave and Brasil Ferrovias.
Civil Engineer (UGF/RJ) and MBA from FGV/RJ. Project Management (PMI) certificate
from FIA/USP.
Luis Alfredo Osório de Castro
30 years experience in implementing infrastructure projects (urban projects and port
Chief Implementation Officer terminals); power plants and industrial facilities at Pronil, OAS and Brascan.
11
14. LLX Corporate Structure after Restructuring
Controlling Current Minority
(1) & Shareholders of MMX
Shareholders of MMX
57% 43%
51% 70% 70% 70%
LLX Minas-Rio LLX Açu LLX Brasil LLX Sudeste
30% 30% 30%
(2) 49%
Centennial
Logística
1. Eike Batista and Management
2. LLX Minas-Rio: iron ore handling at Port Açu
12
15. LLX – PORT AÇU
Port Infrastructure – General Overview
13
16. LLX – PORT AÇU
Main Activities:
Iron Ore: Coal: Liquid Bulk (LNG and Ethanol): Steel Products:
Up to 63.2 mtpy Up to 15.3 mtpy Up to 4.0 M m 3 py Up to 11.2 mtpy
Granite: Containers: Supply Boats: Real Estate:
Up to 1.5 mtpy Up to 330,000 TEUs py Up to 80,000 tons of cargo py Up to 3,300 hectares for rental
14
17. LLX – PORT BRASIL
Infrastructure
Storage and Handling
15
18. LLX – PORT BRASIL – Logistics Connections
1800 km of railway track will connect Port Brasil to Corumbá. 16
19. LLX – PORT BRASIL
Main Activities:
Containers Iron Ore Liquid Bulk (Ethanol)
Up to 3.2M TEUs py Up to 20.0 mtpy Up to 7.5 M m3 py
Agricultural Bulk Fertilizers Real Estate
Up to 28.9 mtpy Up to 10.0 mtpy Up to 600 hectares for rental
17
20. LLX – PORT SUDESTE
AVX iron ore logistics to Port Sudeste:
Port Sudeste
Overview
Igarapé
MRS
AVX
Port Açu
Port Sudeste
Currently Transportation contract secured with MRS and port access with CSN
Sepetiba Terminal until 2011, when Port Sudeste starts up.
18
21. LLX – PORT SUDESTE – Overview
Port Sudeste
Overview
19
22. LLX – PORT SUDESTE
Main Activities:
The port is located in the State of Rio de Janeiro, adjacent to Itaguai Port at Sepetiba Bay. The whole
area of 512,000 m² is dedicated to iron ore operation.
Draft of 18.5 m.
The region is served by railway (MRS) and road (Coastal Highway BR-101); the federal government
has just approved investment in a road connecting the port area to the Rio-São Paulo highway;
The area is already available. Licensing and construction can be done in relatively short time;
operation of the iron ore terminal (storage and shipping) could start in 2011.
Iron Ore
Up to 25.0 mtpy 20
24. MMX & Anglo American Transaction - OVERVIEW
– Anglo American plc and its subsidiaries (“Anglo”) have entered into an agreement with MMX’s controlling
shareholder Eike Batista (the “Controller”) which triggered 45 days of exclusive negotiations amongst the
parties in order to finalize documentation related to Anglo’s acquisition of the shares owned by the
Controller in IronX, which will be incorporated as a result of MMX’s spin off (“IronX”). The IronX will have the
following assets:
• 51% of MMX Minas-Rio Mineração S.A. and respective subsidiaries (“MMX Minas-Rio”). Note that the
remaining 49% already belong to Anglo
• 70% of MMX Amapá Mineração Ltda. and subsidiaries (“MMX Amapá”)
• 100% of MMX Metálicos Amapá Ltda. (“MMX Metálicos Amapá”, in conjunction with MMX Amapá, the
“Amapá System”)
– The transaction will take place in the following 3 stages:
• Stage 1: MMX Restructuring:
– IronX: MMX Minas-Rio System and Amapá System
– LLX: 85% of LLX Logística S.A. and subsidiaries, including the 51% ownership of LLX Minas-Rio (“LLX”)
– MMX: The remaining assets, including MMX Corumbá Mineração Ltda., MMX Metálicos Corumbá Ltda (“Corumbá
System”), AVG, Minerminas, MMX cash and marketable securities, 50% of the pellet plant that will be built at Port Açu
and Royalties that will be paid by the IronX to the New MMX
– Current MMX shareholders will receive new IronX and LLX shares (proportionally to its holdings in MMX).
– Both IronX and LLX will be listed on Bovespa (Novo Mercado) , the same way as current MMX
• Stage 2: Controller will sell its IronX shares to Anglo
• Stage 3: Anglo makes mandatory tag along offer (100%) to buy remaining/minority shareholder stock
in the IronX, for the same price as the Controller stake sale (i.e., US$361.12)
– This deal is contingent on certain conditions such as: final documentation approval; MMX restructuring
approval by MMX shareholders, CVM (Brazilian Securities Commission) approval
21
25. MMX & Anglo American Transaction
Summary
– Payment to IronX shareholders (including tag along) totaling US$5,518,547,123.63
Establishment of royalties agreement, where IronX pays equivalent to 2.415% of the EBITDA
(excluding Selling, General and Administrative Expenses but including the Stay in Business
Capital Expenditures, as defined in the respective agreement) of MMX Minas-Rio, limited to US$50
million annually, and 3.276% of the EBITDA (duly adjusted as defined in the respective agreement)
of MMX Amapá, limited to US$14 million annually.
Current MMX shareholders will receive equivalent LLX public shares and integral maintenance of
participation in the Company:
Conditions
Completion of MMX S.A. restructuring terms in addition to IronX shares buy-sell agreement
between Controller and Anglo
MMX restructuring approval by MMX Board of Directors at Board Meeting and by the shareholders
at the Shareholders’ Meeting
Final transaction documentation and terms approval by Anglo’s Board of Directors
22
26. MMX CORUMBÁ SYSTEM – MARKETING STRATEGY
Our Marketing strategy contemplates the sale of the production through Long Term Supply
Agreements.
Long Term Supply Agreements already signed with traditional steel companies.
Iron Ore
Customer Term 64% of iron
ore production
Siderar 2007-2012
in 2008
Eregli 2007-2012 already
commited
Lucchini 2008-2011 under existing
LT Supply
Pig Iron Plant *** Agreements.
Voest-Alpine testing
Arcelor-Mittal testing
Cargill´s take
represents
Pig Iron 75% of total
Customer Term pig iron
production.
Cargill - USA 2007-2012
Acindar 2008 23
27. MMX IN THE STOCK MARKETS – BOVESPA AND TSX
Capital Stock – 304,609,840 common shares FreeFloat - Geographic Distribution
2% 3%
Controlling 8%
Shareholder and
Management 15% Brazil
34% FreeFloat United States
Canada
24%
66% EU
GDRs
33% Asia
Other
15%
BOVESPA (MMXM3) TSX (XMM)
MMXM3 is included in the Differentiated GDRs commenced trading on June 27, 2007
Corporate Governance Stock Index
GDR per share ratio of 1:1
Ordinary shares, 100% tag along
Depositary Bank: The Bank of New York
Successful IPO on July 24, 2006: US$ 509
million,
24
29. MMX – POSITIVE PROGRESS RECOGNIZED
MARKET CAP INCREASED 6x REACHING US$8.5 B
IRON ORE MARKET GROWTH
MANAGEMENT DELIVERING AS PROMISED
ADDED VALUE
26
30. LLX – PORT AÇU
LLX Minas-Rio (Ore) / LLX Açu (non-Ore)
300ha back area; 7,500 ha of adjacent industrial complex
Connecting bridge; with: power plants, steel complex, oil
Access channel; industries, assembly plants among
Breakwater; others;
Dredging; Right to build additional berths;
Iron ore handling terminal at Port Açu 2 main revenue streams: 1) handling and
(economics supported by MMX Iron Ore services fees and 2) industrial area lease;
throughput, under a pre-established IRR Shared infrastructure agreement to be
target – 15% true-up clause).
established with LLX Minas-Rio will give
LLX Açu access to the connecting bridge,
access channel and breakwater.
27
31. LLX – PORT AÇU
Logistics Connections
45 km of railway track will be built to
connect Port Açu to the Brazilian
railway system.
28
32. LLX – PORT AÇU
Unparalleled Port Facilities
Mixed-use private port facility featuring a
deep draft port with minimum need for
dredging
Depth of 15 meters
Draft of 18.5 meters
Able to berth large vessels of up to 200,000
tons (Cape Size)
7,800 hectares of land holdings for adjacent
industrial complex
The thermal plant within the industrial
complex will guarantee “inside-the-fence”
energy availability
10 hectares
Has already been granted both
environmental and construction licenses.
Construction began in September/07
id ge
br
k m
2.5 29
33. LLX – PORT BRASIL – Overview
Port Brasil is a private port located in São Paulo State, the country’s primary economy engine
Mixed-use port terminal designed for operating containers, iron ore, agricultural bulk, liquid bulk and
fertilizers . A major container player with a capacity of over 4 million TEUs to be reached modularly by 2032;
Deepest draft : 18.5 m, longest uninterrupted quay and largest yard among its competitors in Port of Santos,
designed to serve Super Containerships (> 11,000 TEUs) and Capesize vessels;
Direct link to rail (ALL) and a four-lane highway (Padre Manoel da Nobrega);
Located outside public port area, strong competitive advantage due to reduced costs.
One single operator, vis-à-vis Santos where shipping companies have to negotiate with several different
terminals;
One single back-area (Santos has several, in different sites of the port) thus avoiding the need of expensive
container repositioning;
Opportunity to consolidate operations in a single terminal with a contiguous industrial park which will house
several high value added industries such as electro-electronics ,metal mechanics and assemblers.
30
34. LLX LOGÍSTICA S.A.
Favorable
Industry
Dinamics
Significant
Unparalleled
Upside
Port Facilities
Potential
Strategic
Locations Investor Relations
Ricardo Antunes – Director
Antonio Castello Branco – Manager
Tel. 55 21 2555-5232 / 5530
WWW.LLX.COM.BR ri@llx.com.br