Resources and reserves

1. MMX
Resources  Resources 
and 
Reserves

2. Disclaimer
This presentation relating toMMX 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 Sectio n 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”, “believ es”, “estimates”, “may”,
“will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of o perations. Forward-
looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates.
By their nature, these forward-looking statements involvenumerous 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
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 developmentsin 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 regula tory approvals on a
timely basis or at all, exploration for mineral resources an d reserves, difficulty in converting geological resourcesinto 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 uncertaintie s and events.
MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither anoffer 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 herei n have not been registered in any jurisdiction, and in partic ular, 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 inthe United
States absent registration or an applicable exemption fromsuch 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 Relations
Roger Downey – CEO & IRO
Camila Anker– IR Manager
Rafaela Gunzburger – Analyst
Beatriz Yoshinaga - Assistant
Tel. + 55 21 2555-6197/ 6338
[email protected]
2

3. MMX Location
Serra Azul / Pau de Vinho
Bom Sucesso
Fortuna/ Patrícia
Mina 63 / Rabicho / NE Urucum

4. Relationship between Mineral Resources and 
Mineral Reserves
4

5. Geological  Resources
Brazil  and  Chile
Total Potential
(Mt) (Mt)
Serra Azul 27.490 584,4 315,1 9,5 909 38,9 570 33,0
Bom Sucesso
4.610
365,0
365
29,9
741
27,7
Indicated
(Mt)
Fe% Fe%
Resources
Inferred
(Mt)
Drilling
Audited Resources
(Mt)
Mineral Potential
(Mt)
Meters
Drilled
Sites
Measured
(Mt)
5
*
1
Until 10/April/2011
Bom Sucesso
4.610
365,0
365
29,9
741
27,7
Pau de Vinho 11.570 875 35,2
Sudeste Total 43.670 584,4315,1 374,5 2.149 35,9 1.311 30,0
Corumbá Total 7.390 53,4 87,0 52,3 192 51,3 123 50,0
Chile (PMR) 31.679 290 25,0
MMX Total 82.739 637,9 402,0 426,8 2.631 35,8 1.434 31,7 1 - MMX Corumbá and Sudeste = Total Resources,
4 - Pau de Vinho and Chile will be audited soon.
3 - Tonnes in wet basis 2 - Chile = Potential Mineable Resources (cutoff F e>15%)

6. Serra Azul/ Pau de Vinho
Geological Research
280 drill holes
27.490 meters
81 drill holes
11.570 meters
6

7. Serra Azul
Geological Vertical Cross Sections in 3D
7

8. Serra Azul 
3D Model
The geology was coded in the block model, based on hori zontal sections
(designed at middle of each bench 10m apart).
8

9. Serra Azul
ClassificationSurfaces
Classification
surface
Potential
Measured, Indicated and
Inferred Resources
9

10. Serra Azul
Resources* - AuditedNI43.101 -December 2010
ROCK CLASS
Tonnage
(Mt)
Fe% SiO2% Al2O3% Mn% P% LOI%
Measured200
Indicated62
Inferred6
Total 268
47.5 26.9 2.4 0.22 0.065 1.8
Measured384 Indicated
253
FRIABLE
ORE
COMPACT
*ref. date November 16th, 2010
Indicated
253
Inferred4 Total 641
35.2 48.2 0.7 0.05 0.025 0.4
Measured585
Indicated315
Inferred9
Total 909
38.8 41.9 1.2 0.10 0.037 0.9
POTENTIAL
571
TOTAL GENERAL:
1.5 Billion tonnes
COMPACT ORE
TOTAL
10

11. Pau de Vinho
Resources*
1
Mt*
2
Fe SiO2 P Al2O3 LOI
Friable 115 38,07 30,12 0,067 1,84 2,28
Pau de Vinho - Measured, Indicated and Inferred Resources*
1
Compact 760 33,94 47,59 0,031 0,54 1,83
Total 875 34,48 45,30 0,036 0,71 1,89 *1 - Resources based on Usiminas evaluation, not audited  //   *2 - Tonnes in dry basis
*The Pau de Vinho resources will be audited in 2H2011
11

12. BomSucesso
Typical Geological Vertical Section
Quartzite
Phyllite
Itabirite
12

13. LITHOLOGY CLASS Tonnage(kt) (%) FeSiO
2
Al
2
O
3
P Mn LOI
INFERRED
52.000


68%
42,05
34,32
1,28
0,049
0,39
2,39
IFPOTENTIAL
24.000


32%
41,76
33,85
1,11
0,053
0,46
2,73
TOTALS:
76.000


100%
41,96
34,18
1,23
0,050
0,41
2,50
INFERRED
21.000


75%
38,27
40,47
0,67
0,043
0,17
1,53
Bom Sucesso
Audited Resources
INFERRED
21.000


75%
38,27
40,47
0,67
0,043
0,17
1,53
ISCPOTENTIAL
7.000


25%
35,89
41,45
0,95
0,042
0,21
1,58
TOTALS:
28.000


100%
37,68
40,72
0,74
0,043
0,18
1,55
INFERRED
291.000


29%
27,14
43,30
1,30
0,039
0,17
3,09
ICPOTENTIAL
710.000


71%
27,12
44,56
2,14
0,043
0,24
2,93
TOTALS:
1.001.000


100%
27,13
44,19
1,90
0,042
0,22
2,98
INFERRED
365.000


33%
29,92
41,85
1,26
0,041
0,20
2,90
TOTALSPOTENTIAL
741.000


67%
27,67
44,20
2,10
0,044
0,25
2,91
TOTALS:
1.106.000


100%
28,41
43,42
1,82
0,043
0,23
2,91
13

14. Corumbá
Resoucesand reserves
63 Mine Rabicho
oResources audited according to NI43.101
Resources
(Mt)
Fe%
Potential
(Mt)
Total
(Mt)
63 Mine 95,2 51,4 1,0 96,17
NE Urucum 70,0 52,2 28,0 98,01
Rabicho Sul
27,5
48,5
94,0
121,54


Total MMX Corumbá
192,7
51,3
123,0
315,72


Rabicho NE Urucum
oReserves audited according to NI43.101 Total MMX Corumbá
192,7
51,3
123,0
315,72


* 63 Mine audited in October 2010. * NE Urucum audited in March, 2008. * Rabicho South, audited in December, 2009.
Classification Mt Fe% SiO2% Al2O3% P% Proven
16,25
57,91
10,52
3,27
0,06
Probable
3,10
60,10
9,31
2,27
0,07
Total
19,35
58,26
10,33
3,11
0,06
14

15. Chile 
Location and Logistics
15

16. •
Drilling campaign start:
October/2010
•
Accomplished
(2010 / 2011 until 10/April):
Fortuna
Reconquista
Norte
Chile 
Fortuna Project –Research Program
73 holes = 17.900 m
•
Scheduled (2011):
54.503 m
Fortuna
Reconquista
Fierro
(Elisa)
Pilhas)
Cerro
Iman
Reconquista
Sul (R10)
16