1Q07
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MMX Mineração e Metálicos S.A. (Bovespa: MMXM3) - (“MMX” or “Company”) announces the results for the first quarter ended March 31, 2007 (1Q07).
  • On January 25, 2007, MMX initiated a share split program, at the ratio of one new share for each existing share. Since then, the Company’s capital stock is represented by 7,607,756 common shares.
  • At the close of March 2007, MMX’s shares were quoted at R$795.00, 95% higher than the IPO price and 73% increase in the 1Q07.
  • MMX Corumbá System’s Mine 63, operational since December 2005, produced 343 thousand tons of iron ore in 1Q07.
  • On January 5, 2007, the subsidiary MMX Metálicos and Cargill, Incorporated (“Cargill”) entered into a long-term supply agreement for approximately 77% of the pig iron production from MMX Corumbá System.
  • In February the Company started its eucalyptus plantation project as part of the MMX Corumbá System reforestation program.
  • On January 10, 2007, MMX Amapá obtained a permit from the National Waterway Transportation Agency (ANTAQ), authorizing the construction and operation, for an undetermined period, of a multi-purpose private port terminal in the port area of Santana, Amapá State.
  • In March 2007, Cleveland Cliffs, U.S.’s largest producer of iron ore and pellets, concludes the purchase of a 30% stake in MMX Amapá.
  • GIIC (Gulf Industrial Investment Co.) decided to increase the contracted volume to be supplied by MMX to 13 tons of iron ore, by exercising the option to purchase an additional 6.5 million tons in March.
  • On March 22, 2007, the Company’s Board of Directors approved the reorganization of the activities currently performed by MMX Minas-Rio.
  • IBAMA established a program for public hearings and inspections of the project sites related to the MMX Minas-Rio pipeline, which was concluded on April 20, 2007.
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