June, 2011

MMX: Creating choices in seaborne iron ore supply

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 ExchangeAct 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 suchstatements may not be indicative of results or developments in future periods. We caution participants of this presentation not to placeundue 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 aForward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on atimely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, andchanges 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 registeredunder the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the UnitedStates 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 partwithout MMX’s prior written consent.

Investor Relations

Roger Downey – CEO & IRO

Camila Anker– IR Manager

Rafaela Gunzburger – Analyst

Beatriz Yoshinaga - Assistant

Tel. + 55 21 2555-6197/ 6338

ri@mmx.com.br

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A Unique Story

Ingredients for a successful iron ore business

Strong Resource 1.5 billion tons of mineral resources certified by SRK, and further

Guaranteed

Logistics100% owned Sudeste Superport at 50 Mtpy, expandable to 100 Mtpy,provides gateway to seaborne markets.

Competitive

Cost StructureIntegrated infrastructure, with the existing MRS railway providing an efficient link between mine and port

4

Strong Resource

Base

Secured Offtake

1.5 billion tons of mineral resources certified by SRK, and further mineral potential of up to 1.4 billion tons

Operational

Track Record

63% of future production already committed through long-termcontracts.

Experienced management team with brownfield start-up expertise.Current production rate of 10 Mtpy (Serra Azul and Corumbá sites)

Solid Financial

Position

Strong balance sheet and project fundamentals to attract competitive fundingCurrent operations provide strong FCF

The only one of its kind

MMX uniquenessLocation Map

• Production committed to important global

consumers – China and South Korea – through

long-term contracts.

• Brownfield start up

• Expanding beyond 50 million tpy in Brazil and Chile,

through fully integrated systems: own deep water

Chinamax enabled superports and pipelines.

• Unique port location and strong balance sheet

leverage significant value creation through

consolidation of stranded iron ore resources in the

Southeast of Brazil.

• Strong cash generation.

• Proven track record delivering value to

shareholders

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Corumbá System

Chile System

Sudeste System

Structure

MMXM3: Solid controlling shareholdersHighest levels of Corporate Governance

Bom Sucesso under basic engineering studies

Corumbá System started-up in 2005 (Mining)

28%Free Float

30% EBX Brasil S/A

14%

42%

Controlling Shareholders

16%

70% 100% 100% 92%

100% 100%

Corumbá System started-up in 2005 (Mining)

Assets acquired by MMX (AVG: dec-07; Minerminas: jan-08)

Corporate Governance

• Novo Mercado

• Stringent corporate governance standards

• Single-class of common shares with unrestricted voting rights

• Shareholders have 100% tag-along rights, preemptive rights

• Independent Board Members

• Related-Parties Transaction Disclosure

• Audit Committee

• MMX Policies

• Disclosure and use of information

• Corporate Governance

• Securities Trading 6

� 16 years in the mining industry at Vale , Rio Tinto and Caemi

� Former equity research director of Credit Suisse from 2005 until 2009,

responsible for coverage of mining and steel companies in Latin America

Roger DowneyChief Executive and IR Officer

�

� Approximately 25 years of experience in the mining sector

� Held senior executive and board positions in companies such as Vale ,Caemi

Group and MRS Logística

Guilherme F. EscalhãoChief Financial Officer

Senior Management TeamMore than 135 years of iron ore experience

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� More than 40 years of experience in the mining sector

� Held senior executive positions in companies such as Vale, S.A Mineração da

Trindade (SAMITRI), Ferteco Mineração, GIIC (Vale subsidiary) and AVG

Mineração

Chequer H. B. HabibChief Commercial Officer

Luciano C. Ferreira Chief Port Operations Officer

� More than 25 years of experience in mining, port and steel sectors

� Held senior executive positions in companies such as Caemi, Vale and

Companhia Siderúrgica Pecém

Antônio A. Schettino FróesChief Operations and ProjectDevelopment and ImplementationOfficer

� Around 30 years of experience in the mining sector

� Held senior executive positions in companies such as Caemi, Odebrecht, CSN

and Votorantim Siderurgia

Financial highlights

Sales (million tons)EBITDA (R$ million)

(23,4)

71,7

39,7

-30

0

30

60

90

0,9

1,7 1,3

0,6

0,3

0,3

0,0

0,5

1,0

1,5

2,0

2,5 Domestic Exports

8

(Net Debt) or Net Cash (R$ billion)Net Profit (R$ million)

1Q10 4Q10 1Q11 1Q10 4Q10 1Q11

(76,1)

72,7 63,8

-80

-40

0

40

80

1Q10 4Q10 1Q11

(289)

926

517

-300

0

300

600

900

1Q10 4Q10 1Q11

Sudeste SystemSerra Azul & Bom Sucesso

Iron ore production connected to Sudeste Superport by MRS Railway

MMX Sudeste: Integrated logistics link brownfield

start up to seaborne markets

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Growth through consolidation while leveraging existing infrastructure

Serra Azul

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Serra Azul

Highlights Serra Azul

• Competitive production costs and integrated logistics

• High-quality iron ore to supply the seaborne market

• 65% of production already secured by long-term contracts

• Consolidation opportunities and synergies drive additional

value creation

• Significant growth potential through geographic expansion

• Estimated CAPEX: US$ 79/ton

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Execution Update

• EIA/RIMA filed in November 2010

• Public Hearing: March 2011

• SRK resources audit update: 919 million tons plus a potential

570 million tons

• Drilling performed: 24 thousand meters

• Equipment procurement underway

• Basic engineering phase complete

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Current Sinter Feed Quality

• Estimated CAPEX: US$ 79/ton

Fe: 64.5% P: 0.06%

SiO2: 4.5% Mn: 0.02%

AL2O3: 1.20% H2O: 8.5%

Future Pellet Feed Quality

Fe: 67.0% P: 0.03%

SiO2: 3.5% Mn: 0.05%

AL2O3: 0.5%

Geological Section

Friable Itabirite

Serra Azul

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Compact Itabirite

Serra Azul Expansion Project

Serra Azul

New Plant

Pit

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Long distance beltconveyor, transmissionline and water pipelines

Stockyard and LoadingTerminal

Serra Azul

Production Capacity (Mtpy) *CAPEX (R$ Million)

2,960

21.7

25.3 25.3 25.324

* Time adjusted

CAPEX 79 USD/ton

15

49

539

2010 2011 2012-2016

8.7 8.76.5

0.61.3

1.3

1.3 1.3 1.3 1.3

1.8

20.424 24 24

249.3 10 9.6

Current Capacity GVA Expansion

Usiminas Agreement

Sudeste Superport HandlingPau de Vinho Joint Mining

• Pau de Vinho resources based on Usiminas´s estimates

at 875 M tons

• Pau de Vinho target production: 8 Mtpy

• Significant synergies with current mining operations at

Serra Azul

• 13.5% of production at Pau de Vinho will be delivered to

• Handling fee: USD 12.63/ton adjusted by US-PPI

• Volumes:

• 2012 = 3 Mtpy

• 2013 = 4 Mtpy

• 2014 = 8 Mtpy

• 13.5% of production at Pau de Vinho will be delivered to

Usiminas

• MMX will be responsible for the licensing, CAPEX and

operation for 30 years

• 2015 = 12 Mtpy

• 2016 = 12 Mtpy

• 80% Take-or-Pay

• Usiminas can renew the contract for 1 to 5 years

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Bom Sucesso

Highlights

• High-quality iron ore with magnetite content to supply the

seaborne market

• Production target: 10 Mtpy

• Estimated CAPEX: US$ 81/ton

• 65% of production already committed through long-term

contracts

Bom Sucesso Unit

Execution Update

• Conceptual engineering

• EIA RIMA filed in November, 2010

• SRK resources audit update: 365 million tons plus a

potential of 741 million tons

Expected Quality – Ouro Preto pilot plant test work

Fe: 67.2% P: 0.033%

SiO2: 2.5% PPC: 0.6%

AL2O3: 0.5% FeO: 8.8%

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Bom Sucesso

Production Capacity (Mtpy) *CAPEX (R$ Million)

1,424

6,5

9,8 10

* Time adjustedCAPEX 81 USD/ton

18

5 38

2010 2011 2012-20162015 2016 2017...

Sudeste Superport

Highlights

• 50 mtpy capacity, expandable to 100 mtpy

• Capesizes handling

• Loading: 2 ship loaders of 25 Mtpy each

• Fully funded (BNDES)

• Start-up forecast: 3Q12

• 100% of equipment already ordered

Sudeste Superport

• 100% of equipment already ordered

• Licensing for 100 Mtpy underway

Execution Update

• Fully licensed to 50 Mtpy

• Navy Approval to 100 Mtpy

• Tunnel: 1200 meters already done as of June 2nd

• Tunnel: average speed of excavation: 7 meters per day

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The only bulk terminal in the Sepetiba Bay to receive a license since CSN´́́́s iron ore terminal

Sudeste Superport

AdministrativeBuildings Iron Ore Yard El. 32 Iron Ore Yard El. 06

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Rail LoopRailcar Dumper

Sudeste Superport

Funding: BNDES FINAME - PSI CAPEX (R$ Million)

• Total Amount: R$ 407.1 mm

• Interest Rate per Year: 4.50%

• Amortization: 8 years

• Grace Period: 2 years

1.282

Funding: BNDES FINEM

• Total Amount: R$ 805.1 mm

• Interest Rate per Year: TJLP + 2.18%

• Amortization: 10 years

• Grace Period: 2 years

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86 40 63

286

2007 2008 2009 2010 2011/2012

Chile

Chile

Project Highlights

• One of the lowest cost additions to seaborne supply

• High-quality iron ore with magnetite content to supply the

seaborne market

• Production target: 10 Mtpy

• 50% of production already committed through long-term

contracts

Chile

contracts

• 290 Mt of iron ore potential already secured

Execution Update

•

• Punta Cachos Port fully licensed

• Drilling performed: 19 thousand meters

• Water permits

Expected Quality: Preliminary tests in Ouro Preto

Fe: 67.50% SiO2: 2.5%

Al2O3: 0.85% P: 0.015%

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Punta Cachos Port

• EBX has 240,000 ha property in the Atacama region

• Fully Licensed Port

• Deep water port – 28 meter draft: Chinamax vessels

• Water availability with permits

• MPX Thermal Power Plant

Chile

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BERTH N° 1 – COAL

BERTH N° 2 – IRON ORE

BERTH N° 3 – COPPER

Corumbá

Corumbá

Project Highlights

• Unique high quality lump

• Current Capacity: 2.1 Mtpy

• Long-term contracts signed with local and international

barge operators

• 77% of production already committed through long-term

contracts

Corumbá

contracts

• SRK audit resources report: 244 million tons plus a

potential of an additional 123 million tons

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Estimated Production Capacity (Mtpy)

Iron ore volume growth by System

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Pau de Vinho + Consolidation provides further volume potential

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