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Trax Ys Brochure

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About TraxysTraxys is your partner for financing, investing, marketing and sourcing in the metals, minerals and miningindustries. We provide a suite of world-class financial and commercial services to help you grow opportunitiesand better serve your customers with less risk, less working capital, and most importantly, more transparency.The results: you get a faster return-on-investment with less effort and more confidence.

• Traxys Products• Traxys Investments• Traxys Power• Traxys Services

Traxys primarily focuses on the marketing and sourcing of base metals and concentrates, minor and alloyingmetals, industrial minerals and chemicals, materials for steel mills and foundries, and carbon products. Alongthe way, we manage all parts of the supply chain from producer to consumer — worldwide.

Facts &Figures

• US $4.5 BillionTurnover FY2008

• 260 EmployeesWorldwide

• Over 20 GlobalOffices

www.traxys.com

Our HistoryTraxys was formed in 2003 with the merger of two well-known forces in the metals marketing industry:Sogem and Considar. This merger combined the service, product, and geographical strengths of both companies.

With its roots dating back to 1919, Sogem was previously owned by Umicore and served as a marketing, distribution, andtrading group involved mainly in base metals and concentrates. Sogem primarily focused on serving Europe, Africa and Asia.

As a division of Arcelor, Considar specialized in serving the steel industry through the sourcing of ferro-alloys and otherspecialty metals and focused primarily on the North American market. In 1997, Considar acquired the majority ofHochschild Partners LLC and its significant zinc and lead activity.

In 2006, both Arcelor and Umicore sold a majority stake in Traxys to the management of Traxys in a buyout sponsored bytwo pre-eminent private equity firms: Pegasus Capital Advisors and Kelso & Company.

Traxys has become a global leader in financing, marketing, distribution and financial services for the mining, metals andminerals industries. With more than 20 global locations, Traxys continues to add offices, create partner networks, and isaggressively focusing on business development and investment in and with its customers.

1919

Sogemfounded

1974

ContinentalMetals

founded

1999

HochschildPartners

is merged withConsidar

2007

Minorityinterest ofUmicoreacquired

2008

Minorityinterest of

ArcelorMittalacquired

2003

Traxys formedwith the

merger ofConsidar and Sogem

2006

Pegasus, Kelso &Traxys Managementbecome shareholder

partners

2007

Resource CapitalFunds becomes a

shareholder partner

1986

Considar founded whenContinental Metals

is sold to Arbed

www.traxys.com

Traxys ManagementThe Traxys Manage-ment Team is made

up of seasoned industry experts fromaround the globe. In 2006, Manage-ment acquired an ownership stake,purchasing shares held by Arcelorand Umicore.

Pegasus Capital AdvisorsA private equity firmconcentrating on specialty

situations in the middle-market withmore than US$1.8 billion undermanagement. Pegasus pursuesinvestments involving companies withproven business models that requireuniquely structured financing.

Pegasus is planning a multi-billionUS$ fund focusing on sustainabledevelopment.

Kelso & CompanyOne of the oldest and mostestablished private equity

firms with more than US$31 billionunder management. The most impor-tant factors that influence Kelso’sdecision to acquire a company are thecapability, integrity and depth of itsmanagement. Kelso’s investment port-folio includes industrial, manufacturing,logistics, real estate, communications,energy and environmental companies.

Resource Capital FundsRCF is the leadingprivate equity firm

specializing exclusively in miningindustry investments with aboutUS$1 billion under management.RCF has been actively investing in themining sector for almost a decade byutilizing a range of strategies thatincludes funding development andgrowth stage projects, buyouts ofexisting operations and distressedopportunities. Traxys and RCF havecreated investment vehicles designedto bring new marketing sources toTraxys.

Shareholder Partners

www.traxys.com

Products

www.traxys.com

Base Metals & Concentrates Materials for Steel Mills & Foundries

* Ingot Molds, Big Rolls, Small Rolls, Pots

Traxys strives to provide seamless solutions for supplying and accessing raw materials. We are organized along five business lines.Our product experts have the knowledge and experience in distribution, financing solutions, and the ability to access exoticmarkets with minimal risk.

www.traxys.com

Minor & Alloying Metals Industrial Minerals & Chemicals Energy

Traxys PowerL’Anse Warden Electric Company, LLCL’Anse Warden Electric Company, LLC (LWEC), located in L’Anse, Michigan, a subsidiary of TraxysNorth America, LLC, is the owner and operator of a 20 MW (17.7 MW net) cogeneration plantselling steam and electricity.

LWEC converted the existing J.H. Warden Generating Station, a coal, oil and natural gas-firedstation, to utilize biomass, one of Michigan's most plentiful renewable resources.

The fuel will include:• Forest Products – woodchips, bark and fines• Papermill Wood Residues• Railroad Ties• Tire Chips

LWEC is a Midwest Independent Transmission System Operator (MISO) market participantand is connected to the regional transmission system on-site.

In addition to providing renewable energy for Michigan's economy, the biomass plantwill utilize papermill waste from a nearby mill as part of its fuel input, and will providesteam and electricity to a local manufacturer located in L'Anse, Michigan. TheRenewable Energy Credits and the remainder of the capacity and energy generated will

be sold on the wholesale market. LWEC also has full FERC authority to create market-based rates.

www.traxys.com L’Anse Warden Electric Company

White Pine Electric Power, LLCWhite Pine Electric Power, LLC (WPEP),

subsidiary of Traxys NA, is the ownerand operator of a 40 MW coal-fired power plant located inWhite Pine, Michigan that hasbeen providing reliable electrical

service in the Upper Peninsulasince 2004. The bulk of the output

from the facility is contracted to a localutility company.

The staff at WPEP is well-versed in solid fuel operations. Thereare two coal-fired boilers providing steam to two 22.0 MW(rated) electrical generators. There is a third, stand-by generatorthat is cross-connected between the two boilers to provideexcellent operational reliability and performance.

Despite the complexities of handling solid fuel, the plant'savailability and safety record has been outstanding. The facilityin White Pine has operated at above 99% availability and from2003, there have been no lost time accidents at the plant. Themanagement and operating team at WPEP has demonstratedtheir dedication to provide outstanding reliability, while safelyoperating the facility.

WPEP is a Midwest Independent Transmission System Operator(MISO) market participant and has been involved in the MISOmarket since prior to Day 2 implementation. Our staff is involved

with and understands the market from an independent powerproducer perspective, even as the MISO market goes througha continuously changing process. WPEP also has full FERCauthority to create market-based rates.

U.P. Power Marketing, LLCU.P. Power Marketing, LLC (UPPM), is a subsidiary ofTraxys NA.

UPPM was created to serve retail customers within the state ofMichigan. UPPM is a fully licensed Alternative Electric Supplier(AES) within the state of Michigan and contracts with its sisterplants and within the wholesale Midwest Independent

Transmission System Operator (MISO)market to supply energy, capacity

and ancillary service to itscustomer base.

UPPM also has the FederalEnergy Regulatory Commission

approval to set market-basedrates in the transmission-

constrained area of the UpperPeninsula of Michigan.

www.traxys.com

White PineElectric Power

U.P. PowerMarketing

www.traxys.com

Traxys EnergyKanawha River TerminalsTraxys has contracted terminaling capacity at the 4 KRT river facilities, allowing forblending services on inbound coals from both the NS and CSX railroads, as well ascoals delivered by truck. Storage, blending, handling and reloading services allow forshipment to all U.S. East Coast ports, U.S. Great Lakes ports, and the U.S. Gulf ports.

With highly experienced coal operations personnel located in Ceredo, Traxys is able tomonitor each and every stage of the process. Our proximity to these docks serves asan open line of communication between the customers’ needs and operationspersonnel to ensure the product meets all requirements and timelines.

Annual capacity of 36 million tons, with a combined group storage capacity of1.3 million tons, 260 barge fleeting capacity and 2 fleet boats.

Ceredo Dock Kentucky Coal Terminal Marmet Dock Quincy Dock

www.traxys.com

Traxys Rare EarthsTraxys has entered the world of Green Technology byco-investing in Molycorp Minerals LLC, owner of theMountain Pass mine, California, which is one of the world’slargest and richest producers of Rare Earths (or GreenElements) outside of China.

In recent years, China has supplied the entire world’sdemand for these elements. Traxys and its co-shareholdersbelieve strongly in the viability of a domestic Rare Earthindustry based on responsible use of their own WesternWorld’s strategic reserves at Mountain Pass. Our partners inthe venture are Resource Capital Funds, Goldman Sachs,Pegasus Capital Advisors and various other investors,including Molycorp’s CEO.

Traxys InvestmentsFor mining enterprises with proven resources, Traxys is able to bring your product fromproject to market.

Traxys has created specifically dedicated investment vehicles to provide a full-range of financial and commercialsolutions for mining and other production projects. Our experienced team and strategic alliance partners includeworld-class professionals who are able to provide all necessary service options.

• Equity Finance• Debt Finance• Buyouts• Marketing & Trading

www.traxys.com

Traxys ServicesOur marketing and trading services cover virtually every pointalong the supply chain, streamlining the process of bringingyour product to market.

Off-take Agreements Traxys has the financial strength togive you confidence in counterpart performance anddependability. You have the ability to collect promptly or useour agreement as your collateral for dealing with financiersor other relevant business partners.

Market Support The breadth of our global network allowsus to keep up with rapidly changing market conditions andreact efficiently – at the local level.

Agencies Traxys coordinates directly with you as theproducer and based on our extensive experience with theproduct and consuming market, we offer guidance aboutcommercial strategies and pricing.

Trade Finance Traxys has the financial resources to offersolutions ranging from simple working capital funding tohighly-structured long-term financing, both to suppliers andcustomers.

Logistics Being a global company, Traxys has worldwidelogistics partners that help make certain your productsleave your facility and arrive at your customer’s location ina safe and timely manner.

Distribution• Ocean/Land Movement• Warehousing• Tolling

Regulatory Compliance• US and EU Customs• REACH• NAFTA

Hedging Traxys has the financial resources and technicalexpertise to help you hedge prices so you can betterforecast your revenues.

Credit Risk Coverage Traxys has the internationalindustry know-how to structure a variety of ways to coveryour risk and maintain your cash flows.

www.traxys.com

Locations

Mexico City

Lima

Belo Horizonte

Madrid

ParisBrussels

New Delhi

Beijing

Hong Kong

Sydney

Moscow

Istanbul

Sheffield CologneLuxembourg

Barcelona

Johannesburg

CeredoPittsburgh New York

Cos CobWhite Pine

www.traxys.com

BarcelonaTraxys Metals y Quimicos S.L.U.Poligono Cova Solera S/NEdificio SogemApartado Correos n 196E-08191 Rubi (Barcelona)SpainTel: +34 93 586 0450Fax: +34 93 588 2620

BeijingTraxys EuropeBeijing Representative OfficeRoom 1203, Office Tower AFull Link PlazaNo. 18 Chaoyangmenwai AvenueChao Yang District100020 BeijingChinaTel: +86 10 8569 7200Fax: +86 10 8569 7209 or 7210

Belo HorizonteTraxys Brasil Ltda.Av. do Contorno 4023, Conj. 60230110-021 Belo Horizonte-MGBrazilTel: +55 31 3274 4010Fax: +55 31 3274 4011

BrusselsTraxys Belgium SA/NV21, Avenue du Boulevard15th Floor - Box 21Brussels B-1210BelgiumTel: +32 2 227 2300Fax: +32 2 227 2370

CeredoTraxys NA - Carbon Division100 Main Street & River FrontP.O. Box 308Ceredo, WV 25507USATel: +1 304 526 0700Fax: +1 304 453 6917

CologneTraxys Deutschland GmbHHansaring 61Cologne D-50670GermanyTel: +49 (0) 221 161 2101Fax: +49 (0) 221 161 2135

Cos CobTraxys North America LLC99 River RoadCos Cob, CT 06807USATel: +1 203 413 6260Fax: +1 203 413 6282

Hong KongTraxys Far East Ltd.Suite 1502, 15th FloorChinachem Century Tower178, Gloucester RoadWanchaiHong KongTel: +852 3969 1781Fax: +852 3969 1789

IstanbulTraxys TurkeyBagdat Caddesi Durak,No. 142/3-4 Feneryolu, 34726Kadikoy8104 IstanbulTurkeyTel: +90 216 418 1668Fax: +90 216 418 1878

JohannesburgTraxys Africa Pty Ltd.2nd Floor South WingThompsons Tours Building6 Hood StreetRosebank 2196, JohannesburgSouth AfricaTel: +27 11 447 4317Fax: +27 11 447 0957

LimaAvenue Jose Pardo 223, Piso 9Miraflores, Lima,PeruTel : +1 51 1 445 7900Fax : +1 51 1 445 7900

LuxembourgTraxys Europe SA3, rue PletzerCentre HelfentBertrange L-8080LuxembourgTel: +352 4599 991Fax: +352 4599 99222

MadridTraxys Metales y Químicos, S.L.U.Manuel Ferrero, 13-Bajo28036 MadridSpainTel: +34 91 378 9730Fax: +34 91 314 7585

Mexico CityTraxys Mexico SAHomero 538, Of. 903 (PH)Colonia PolancoMexico D.F., CP 11560MexicoTel: +52 55 5531 4003Fax: +52 55 5531 4202

MoscowTraxys RussiaBolshaya Andronevskaya Street25/33109147 MoscowRussiaTel: +7 495 796 2834Fax: +7 495 733 7867

New DelhiTraxys IndiaLiaison office of Traxys Europe10C, 3rd Floor, Vasant Square MallB/5, Vasant KunjNew Delhi 110070IndiaTel: +91 11 4600 0765/766/767Fax: +91 11 4600 0769

New YorkTraxys North America LLC825 Third Avenue9th FloorNew York, NY 10022USATel: +1 212 918 8000Fax: +1 212 918 8076

ParisTraxys France SASImmeubles TechnologiesBlvd de la Mission Marchand,84-88F-92411 Courbevoie CedexFranceTel: +33 1 4643 8683Fax: +33 1 4643 8696

PittsburghTraxys North America LLC816 RI Lampus AvenueP.O. Box 167Springdale, PA 15144USATel: +1 724 274 0455Fax: +1 724 274 0446

SheffieldTraxys U.K. Ltd.Shepcote LaneTinsleySheffield S9 1USUnited KingdomTel: +44 114 244 7991Fax: +44 114 242 1548

SydneyTraxys Australia Pty. Ltd.Endeavour House, Suite 13-5 Stapleton AvenueSutherland NSW 2232, SydneyAustraliaTel: +61 2 8536 8300Fax: +61 2 8539 7133

White PineWhite Pine Electric Power LLCP.O. Box 69529639 Willow RoadWhite Pine, MI 49971USATel: +1 906 885 7100Fax:+1 906 885 7400

L’Anse WardenElectric Company, LLC157 S. Main StreetL’Anse, MI 49946USATel: +1 906 885 7100Fax:+1 906 885 7402

U.P. Power Marketing, LLCP.O. Box 69529639 Willow RoadWhite Pine, MI 49971USATel: +1 906 885 7100Fax:+1 906 885 7402

www.traxys.com