History and Company Profile
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MMX Mineração e Metálicos S.A. – In Judicial Recovery ("MMX" or "Company") is a publicly-held corporation with the corporate purpose to acquire shares in other companies, and the procedure of extraction of minerals and mineral research and development. Also, MMX has the objective of iron ore sale, including a minority stake in the logistics and port operations of Porto Sudeste do Brasil S.A.

 

The Company's operating activities were affected in 2014 both due to the significant fall in the price of iron ore and the operational restrictions imposed by the environmental agency of the State of Minas Gerais.

 

Therefore, because of the business environment conditions, in October 2014 the Company informed the market, with a material fact, the temporary suspension of the activities of MMX’s subsidiary MMX Sudeste Mineração S.A. - In Judicial Recovery.

 

The prolonged deterioration of the business environment conditions led the Company to request, on October 16, 2014, the judicial recovery of its subsidiary MMX Sudeste Mineração S.A. – In Judicial Recovery. The Recovery Plan was presented on December 19, 2014, approved at the Meeting General of Creditors held on August 28, 2015 and ratified by the Judicial Recovery Court on September 24 of that same year.

 

Because of the Company's economic crisis, MMX and another subsidiary, MMX Corumbá Mineração S.A. – In Judicial Recovery filed their application for judicial recovery on November 25, 2016. On December 19, 2016, the petition was granted, and, at present, the Judicial Recovery Plan is pending approval by the Company's creditors.

 

The request for the judicial recovery of MMX and its subsidiaries was aimed at protecting the Company's assets in order to meet in an organized manner the interests of its creditors and shareholders, responsibly contingent on existing cash resources.

 

All documents related to the Judicial Recovery of the Company and its subsidiaries are available for consultation both on the CVM website, www.cvm.gov.br, as well as on the Company's website, www.mmx.com.br.

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