RIO DE JANEIRO, BRAZIL--(Marketwire - September 8, 2009) - Further to the Material Fact dated
June 23, 2009, MMX Mineração e Metálicos S.A. ("MMX" or the "Company")
(BOVESPA: MMXM3), pursuant to article 157 of Law 6404/76, and CVM
Instruction No. 358/02, informs its shareholders and the market in general
that the definitive agreement for sale of the pig iron plant, owned by MMX
Metálicos Corumbá Ltda. and located in the Municipality of Corumbá, State
of Mato Grosso do Sul, Brazil ("the Asset") to Vetorial Siderurgia Ltda.
("Vetorial") was executed.
The conclusion of the transaction is subject to the Parties to the
agreement obtaining the approval by the relevant environmental agency to
the unbinding of MMX Metálicos Corumbá Ltda.'s forest assets from the
Sustainable Supply Plan related to the Asset involved in the sale and
substitution of the planting schedule previously submitted by MMX Metálicos
Corumbá Ltda. For a new planting schedule to be submitted by Vetorial.
Vetorial will pay R$ 100 million for the Asset, of which 84% will be paid
up front, affecting MMX's cash-flow in the last quarter of 2009.
Furthermore, MMX Corumbá Mineração Ltda., a subsidiary of MMX, entered into
a long term iron ore supply agreement with Vetorial, with a term of 20
years, in an amount sufficient to guarantee production of up to 400
thousand tons per year of pig iron.
The pig iron plant owned by EBX Siderúrgica de Bolívia S.A. and located in
the city of Puerto Suarez, Germán Busch Province, Bolivia, was also sold to
Vetorial for R$ 26 million.
Thus, MMX will now focus its efforts in mining and confirms its purpose to
continue strengthening its activities in the state of Mato Grosso do Sul.
Rio de Janeiro, September 08, 2009
Roger Downey
CEO and IR Officer
MMX Mineração e Metálicos S.A.
About Vetorial: Vetorial Siderurgia Ltda. and its affiliates constitute an
economic group dedicated to pig iron production, with operations in
forestry and mining. This group has pig iron plants in Mato Grosso do Sul
with a total production capacity of 350 thousand tons per year, besides
forestry and iron ore mining for its own consumption.
About MMX: MMX is a mining company which currently has two integrated
systems in operation, MMX Corumbá and MMX Sudeste, representing a total
installed capacity of 10.8 million tons per year of iron ore, which can be
expanded to up to 40 million tons per year. MMX has a recognized
differentiated status in Brazil in terms of the outstanding quality of its
mineral assets and its ability to design integrated projects with ensured
logistics. MMX has also mining rights in Chile through its subsidiary
Minera MMX de Chile, with promising deposits of iron ore and logistics also
ensured, through the port under development by the EBX group. In 2008 MMX
sold to Anglo American group two integrated systems originally developed by
the Company, Amapá and Minas-Rio, in a transaction evaluated at USD 5.5
billion.
Contact Information: Contact:
Roger Downey
CEO and IR Officer
MMX Mineração e Metálicos S.A.
ri@mmx.com.br
www.mmx.com.br/ir
IR Team - MMX
Phone: (55 21) 2555-5558 / 2555-5234
Fax: (55 21) 2555-4011
Address: Praia do Flamengo, 66 - 10º. Floor
Rio de Janeiro, Brazil 22210-903
E-mail: ri@mmx.com.br
Website: www.mmx.com.br/ri