MMX Executes Agreement With Vetorial for the Sale of Assets in Corumba

RIO DE JANEIRO, BRAZIL--(Marketwire - June 23, 2009) - MMX Mineração e Metálicos S.A. ("MMX" or the "Company") (BOVESPA: MMXM3), pursuant to article 157 of Law 6404/76, and CVM Instruction No. 358/02, informs its shareholders and the market in general that it has executed, on June 23, 2009, through its subsidiary MMX Corumbá Metálicos Ltda. ("MMX Corumbá") an agreement with Vetorial Siderurgia Ltda. ("Vetorial") establishing the main terms and conditions for the sale of the pig iron plant, owned by MMX Corumbá and located in the Municipality of Corumbá, State of Mato Grosso do Sul, Brazil ("the Asset").

Vetorial will pay R$ 100 million for the Asset, of which 84% will be paid up front, upon execution of the purchase agreement ("Agreement"). The Agreement establishes a 60 day exclusivity period in favor of Vetorial.

The agreement also states that MMX Corumbá Mineração Ltda., a subsidiary of MMX, and Vetorial will enter into an iron ore supply agreement in an amount sufficient to guarantee a production of up to 400 thousand tons per year of pig iron.

The conclusion of the transaction is subject to due diligence of the Asset by Vetorial and to the negotiation of the definitive agreements. This sale is also subject to approval by the independent members of MMX's Board of Directors.

On the same date, EBX Siderúrgica de Bolivia SA ("EBX"), a company controlled by MMX's controlling shareholder, entered into an agreement with Vetorial establishing the main terms and conditions for the sale of the pig iron plant owned by EBX and located in the city of Puerto Suarez, Germán Busch Province, Bolivia. The amount to be paid for the pig iron plant in Bolivia is R$ 26 million.

About Vetorial: Vetorial Siderurgia Ltda. and its affiliates constitute an economic group dedicated to pig iron production, with operations in forestry and mining. This group has pig iron plants in Mato Grosso do Sul with a total production capacity of 350 thousand tons per year, besides forestry and iron ore mining for its own consumption.

About MMX: MMX is a mining company which currently has two integrated systems in operation, MMX Corumbá and MMX Sudeste, representing a total installed capacity of 10.8 million tons per year of iron ore, which can be expanded to up to 40 million tons per year. MMX has a recognized differentiated status in Brazil in terms of the outstanding quality of its mineral assets and its ability to design integrated projects with ensured logistics. MMX has also mining rights in Chile through its subsidiary Minera MMX de Chile, with promising deposits of iron ore and logistics also ensured, through the port under development by the EBX group. In 2008 MMX sold to Anglo American group two integrated systems originally developed by the Company, Amapá and Minas-Rio, in a transaction evaluated at USD 5.5 billion.

MMX MINERAÇÃO E METÁLICOS S.A.
CNPJ/MF: 02.762.115/0001-49
Publicly Held Company
NIRE: 33.3.0026111-7

Contact Information: Contact IR Chequer Hanna Bou-Habib Commercial Director and IR Officer Phone: (55 21) 2555 5558 / 2555 5234 ri@mmx.com.br