3Q09
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MMX Mineração e Metálicos S.A. (“MMX” or “Company”) (BOVESPA: MMXM3) releases its consolidated results for the Third Quarter 2009 (3Q09) expressed in Reais and in accordance with Brazilian accounting standards.
  • Mr. Roger Downey has been named the new MMX CEO and Investor Relations Officer, disclosed as a Material Fact by press release on August 3rd , 2009. Previously Mr. Roger Downey was the equity research director responsible, since 2005, for covering the mining and steel industries in Latin America at Credit Suisse. Prior to this he worked for 14 years in the mining industry and was active in sales, marketing, new business and strategies for worldwide iron ore producers, such as Vale and Rio Tinto.

  • MMX concluded the sale of its metals plant, located in Corumbá, to Vetorial Siderúrgica Ltda. (“Vetorial”), disclosed as a Material Fact by press release on September 8, 2009. The asset sale price amounted to R$ 100 million of which 84% to be paid upfront. This impacted the company’s cash during 3Q09. The agreement further establishes that MMX Corumbá Mineração and Vetorial have signed an iron ore supply contract in a quantity sufficient to produce up to 400 thousand tons of pig-iron, the current total production capacity of the pig-iron plant.
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