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2Q10 Results
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Disclaimer
This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in thePrivate 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 andare 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 andspecific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in suchspecific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in suchstatements 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 thesestatements.
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-
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Investor Relations
Roger Downey – CEO & IRO
Camila Anker– IR Manager
Rafaela Gunzburger – Analyst
Tel. + 55 21 2555-6197/ 6338
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The best performance ever
2Q10 QoQ YoY
Sales 1.8 million ton 22% 190%
Gross Revenues R$ 204.9 million 69% 324%
Gross Profit R$ 118.1 million 144% 731%
Adjusted EBITDA R$ 54.8 million 506% 137%
3
64%
15% 13%
0%
15%
30%
45%
60%
75%
2Q09 1Q10 2Q10
G&A / Gross Revenue
44,33 45,17
38,39
1Q10 2Q102Q09
COGS / ton
63%
60%
80%
Gross Margin (%)
A bright future ahead
54,8
20
40
60
Adjusted EBITDA
4
34%
42%
0%
20%
40%
2Q09 1Q10 2Q10
*excluding non-recurring items.
(40,0)
(13,5)
-60
-40
-20
0
2Q09 1Q10 2Q10
Increasing Production since the
economic melt down
1.600
2.000
Production (thousand tons)
5
0
400
800
1.200
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10
Reducing the short term debt
41%35%
63%
80%
100%
Debt profile
34
30
40
Average debt term
(month)
59%65%
37%
0%
20%
40%
60%
Jun/09 Mar/10 Jun/10
Short Term Long Term
15 16
-
10
20
2Q09 1Q10 2Q10
� USD 50.8 million transaction
� 78 monthly installments
� 1.3 million tons per year
� CAPEX: USD 7.5 million
GVA deal Additional capacity
Another step towards consolidation
� 13.4 million tons of semi-
processed iron ore
� Start-up: mid 2011
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THANK YOUTHANK YOU
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