2Q09
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MMX Mineração e Metálicos S.A. (“MMX” or “Company”) (BOVESPA: MMXM3) releases its consolidated results for the Second Quarter 2009 (2Q09) in Reais according to the accounting standards adopted in Brazil.
  • MMX received a non-binding offer from Wuhan Iron and Steel Co. (“WISCO”), disclosed as a Material Fact on May 19, 2009. Continuing the negotiation, on June 22, 2009, MMX announced the conditions of the offer, through which WISCO can acquire, by means of a new issue of MMX ordinary shares, a 9.09% stake in the Company's capital, equal to an amount of US$ 120 million, and a 23% stake in MMX Sudeste, equal to an amount of US$280 million, totaling a possible US$ 400 million capital injection into the Company.
  • MMX agreed to sell its metals plant in Corumbá to Vetorial Siderurgia Ltda. (“Vetorial”), disclosed as a Material Fact on June 23, 2009. The price for the asset is set at R$ 100 million, of which 84% will be paid up front. The agreement also includes the signing of a contract between MMX Corumbá Mineração and Vetorial to supply sufficient iron ore for the production of up to 400 thousand tons of pig-iron per year, which at present is the total production capacity of the pig-iron plant.
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