CORPORATE PRESENTATION

MAY 2007

DISCLAIMER

2

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 RelationsRodolfo Landim – Director of Investor Relations

Elizabeth Cruz – ManagerGina Pinto - Analyst

Tel. 55 21 2555-5634 / 5558/ 5563ri@mmx.com.br

http://www.mmx.com.br/ri

HIGHLIGHTS

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.

Successful IPO on July 24, 2006: US$ 509 million, the largest offering held in Brazil.

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 Brazil.

A Newborn Company and an option for iron ore supply from Brazil

3

Iron Ore Fines: 6.5 MtpyPig Iron: 2.0 MtpySemi-Finished: 0.5 Mtpy

Iron Ore Fines: 4.9 MtpyPig Iron: 0.4 MtpySemi-Finished: 0.5 Mtpy Engineer Eliezer Batista

Natural Reserve

Iron Ore Fines: 26.6 MtpyPellets: 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

4

Mine 63 – industrial plant operating since December 2005

Production capacity of 3.1 million tons/year of lump (85%) andsinter feed (15%).

Tests performed by Lucchini (Steel Mill, potential offtaker) –lump ore quality improves blast furnace operationalperformance

Pig Iron Plant – Construction License granted in August 2006, construction initiated in September 2006

Start-up scheduled for June 2007

Supply agreement signed with Cargill in January 2007

MMX CORUMBÁ SYSTEM

5

Acquisition of two farms in 2006 as the first step towards self-sufficiency in charcoal production

Hired the most renowed eucalyptus planting company in Brazil – PLANTAR – to plant 48,250 acres in 5 years – in ownand third-party lands

Eliezer Batista Natural Reserve – MMX’s commitment withenvironmental preservation, 50 thousand acres in themost preserved area in South Pantanal

MMX CORUMBÁ SYSTEM

6

MMX policy: conciliate economic development withnature preservation

Amapá Mine – Construction License granted in August 2006, construction initiated in September 2006.

Start-up scheduled for 4T07, production capacity of 6.5 million tons/year of iron ore.

20-year supply contract signed with Gulf Industrial InvestmentCo. in November 2006.

Amapá Railway – 20-year concession contract.

Railway under operation connecting the mine to the port in Santana.

Santana Port Terminal – PreliminaryEnvironmental License granted in August 2006.

MMX AMAPÁ SYSTEM

7

Additional geologic resources;

Iron ore production of 26.5 million tons/year from2011;

Off takers – GIIC and Japanese Trading Co. (undernegotiation)

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.

MMX MINAS-RIO SYSTEM

8

Filtering Area Iron ore

storage area

Offshore

support

infrastructure

Pelletizing

Plants

Petroleum

processing

plants

Power Plants Steel Plants

HOLDING COMPANY FOR MMX’S LOGISTICS DIVISION

LLX LOGÍSTICA S.A.

Tanking

facilities

9

AÇU PORT

The corporate reorganization created two new companies: LLX Minas-Rio Logística Sa., which will ownthe slurry pipeline and a 300-hectare iron ore port facilityat the Açu Port, and LLX Açu Operações Portuárias S.A., which will own the remaining port area (5,700 hectares).

CAPEX – Distribution by System

TOTAL: US$3.7 billion

CAPEX – Sources

67%

27%

6%

CorumbáAmapáMinas-Rio

CAPEX DISTRIBUTION AND SOURCES

Financing advancing according to the Business Plan

10

Debt - Firm commitment

US$ 1.4 B

Debt - Being structuredUS$ 1.1 B

Equity - Strategic Partners

US$ 0.2 B

Equity - MMX US$ 0.6 B

Pelletizing Plant US$ 0.4 B

On April 23, 2007, Anglo American and MMX entered intoan agreement for the sale of a 49% interest in MMX Minas-Rio Iron Ore Project.

MMX Corumbá

30% CentennialAsset Corumbá

70%

MMX Amapá

30% ClevelandCliffs

70%

MMX Minas-Rio

49% Anglo American

51%

MMX Metálicos

LLX Minas-Rio Logística SA

100%

51%

LLX Logistics

LLX Açu Oper. Portuária SA.

100%

70%

30% Centennial Asset

CORPORATE STRUCTURE Participation of Strategic Partners

11

49% Anglo American

MMX and Anglo American Transaction Overview

12

Anglo American plc (“Anglo”), MMX Mineração e Metálicos S.A. (“MMX”) and Centennial Asset Mining Fund LLC (“Centennial Asset”) have entered into an agreement in connection with the following MMX assets (jointly, the “Minas-Rio Companies”):

• MMX Minas-Rio Mineração Ltda (“MMX Minas-Rio”)• LLX Minas-Rio Logística Ltda. (“LLX Minas-Rio” – together with MMX Minas-Rio, the “Minas-Rio

Companies”)

According to the agreement:• Anglo will purchase 100% of Centennial Asset’s shares in the Minas-Rio Companies• Anglo will subscribe for additional shares of MMX Minas-Rio and LLX Minas-Rio, resulting in Anglo owning

49.0% ownership interest in both assets

Transaction will be divided in two steps:I. US$ 704mm cash payment to Centennial Asset and US$ 874mm capital contribution to the Minas-Rio

Companies, implying a pre-money valuation of US$ 2,347mm for 100% of the Minas-Rio CompaniesII. Earn-out comprising additional cash payment of 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% of the Minas-Rio Companies and a post-money total valuation of US$4.9mm.i. Earn-out will be dependent upon the confirmation of the projected capacity expansion of the Minas-Rio

Companies, starting in 2012

Transaction is still dependent on Anglo, MMX and Centennial Asset agreeing on the final terms of the purchase

13

CentennialAsset

CentennialAsset

Minas-RioCompaniesMinas-Rio

Companies

Transaction Structure

Pro-FormaStructure

1

2

70% 30%

Minas-RioCompaniesMinas-Rio

Companies

51% 49%

1US$ 704,081,671 cash payment

2 US$ 874,349,787 capital contribution

Implied pre-money valuation of US$ 1,150,000,063 for 49% stake orUS$ 2,346,938,904 for 100% stake

Step I – 49% in MMX Minas-Rio and LLX Minas-Rio

14

Transaction Structure

Pro-FormaStructure

Minas-RioCompaniesMinas-Rio

Companies

51% 49%

CentennialAsset

CentennialAsset

1

2

1 US$ 345,918,367 additional cash payment

2US$ 525,650,262 additional capital contribution

Minas-RioCompaniesMinas-Rio

Companies

50% 50% Implied new pre-money valuation of US$ 3,500,000,126 for 100.0% stake and US$4.9 million, post-money, i.e., after giving effect to the capital contributions.

(1) Phase II refers to the envisioned expansion with the doubling of the Minas-Rio Companies capacity, subject to certain conditions, including Minas-Rio Companies confirming sufficient reserves and obtaining the relevant environmental permits.

Step II – Earn-Out Dependent on Phase II (1)Leading to 50% Ownership Interest

15

– Implied value for 49.0% of Minas-Rio Companies (pre-money): US$ 1,150,000,063– Pre-Money Valuation for 100.0% of Minas-Rio Companies = US$ 2,346,938,904– Calculation for the capital contribution:

– Payment to Centennial Asset = 30.0% * Pre-Money Valuation = US$ 704,081,671– Capital Contribution = US$ 874,349,787

Payment to Centennial Asset + Capital Contribution

Pre-Money Valuation + Capital Contribution= 49%Step I

Step II

– Implied value for 100.0% of Minas-Rio Companies (pre-money): US$ 3,500,000,126

– Implied value for Centennial Asset’s stake = 30.0% * New Pre-Money Valuation = US$ 1,050,000,038– Additional value to be received by Centennial Asset = 1,050,000,038 - 704,081,671 = US$ 345,918,367– Calculation for the capital contribution:

– Total Capital Contributions = US$ 1,400,000,049– Additional Capital Contribution = 1,400,000,049 - 874,349,787 = US$ 525,650,262– Total Post-Money valuation = US$4.9 million

US$ 1,150,000,063 + Earn-out of US$ 600,000,000

50%= 3,500,000,126

Total Payments to Centennial Asset + Total Capital Contributions

New Pre-Money Valuation + Total Capital Contributions= 50%

Transaction Details

A Compelling Transaction

16

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

Earn-out structure fully aligned with shareholder’s interests

Unlocks value for MMX shareholders

Board of Directors composed of 9 members, 6 independent with 1-year mandate

Audit Committee composed of 3 members, all independent

Hiring of 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

Arbitrage for solving corporate issues

MMX CORPORATE GOVERNANCE

Commited to following the best corporate governance practices:

17

Board of Directors

EliezerBatista

MMX - BOARD OF DIRECTORS & EXECUTIVE OFFICERS

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

18

Special Advisor

José Luiz Alqueres Dalton Nosé

Joaquim Martino

Nelson Guitti

Paulo Gouvêa

Peter Nathanial

CommercialDirector

Ricardo Antunes

General Counsel

Chief Financial Officer

Chief OperatingOfficer, Mining

Chief OperatingOfficer, Metallics

Administrative & HSEC

MMXM3 IN NOVO MERCADO - BOVESPA

MMXM3 composes the Diferentiated Corporate Governance Stock Index

Level I GDR Program initiated on February 5, 2007 – GDR per share ratio of 20:1

Toronto Stock Exchange: listing in Canada expected for May 2007

Stock split program initiated in January 2007

ControllingShareholder and

Management

FreeFloat

68%

32%

Capital Stock – 7,607,756 common shares Geographic Distribution

19

1,0%

41%16%

26%16%

BrazilUnited StatesCanadaEUOther

Positive progress is being recognized by the capital market: market cap reached US$ 3.4 billion

MMXM3 IN NOVO MERCADO - BOVESPA

MMXM3 X IBOVESPA

20

40

140

240

340

440

540

640

740

840

940

1040

24-J

ul1-

Aug22

-Aug

6-Sep

20-S

ep28

-Sep

11-O

ct26

-Oct

7-Nov

22-N

ov4-

Dec15

-Dec

28-D

ec10

-Jan

18-J

an29

-Jan

6-Feb

15-F

eb27

-Feb

7-M

ar15

-Mar

23-M

ar2-

Apr11

-Apr

19-A

pr27

-Apr

8-M

ay

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00

Price (R$) Volume (R$ million)

MMXM3 121.50%IBOVESPA 38.8%

MMXM3

IBOVESPA

MMX MULTIPLYING VALUE

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

21