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MMX Mineração e Metálicos S.A. (“MMX” or the “Company”) (BOVESPA: MMXM3) announces the consolidated results of the third quarter of 2008 (3Q08) presented according to the Brazilian accounting principles, in reais.
  • The total iron ore production reached 1.377 million tonnes in the quarter, and an accumulated total of 4.041 million in the year;
  • The Gross Revenue from iron ore was R$174 million, 54% more than in theprevious period;
  • September had a record production of pig iron - 28 thousand tonnes - reaching 70 thousand tonnes in the period, 13% more than in the previous quarter;
  • During the quarter the pig iron sales generated a Gross Revenue of R$ 67,7 million;
  • MMX had a Gross Income of R$96.9 million, accumulating a total of R$179.6 million in the year;
  • The cash availability , by the end of the quarter, was of R$240 million;
  • MMX Metálicos Corumbá acquired a pinus planted forest, in the state of Mato Grosso do Sul, from which wood will be transformed into charcoal, with the purpose of supplying around 25% of MMX Metálicos' pig iron plant's needs during the years 2009, 2010 and 2011.
  • MMX initiated the development of new businesses in Chile, acquiring 2 mining rights for iron ore and signing an options contract for the acquisition of another two.
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