MMX Mineração e Metálicos S.A. Publicly Held Company Material Factadmin
MMX Mineração e Metálicos S.A., in compliance with article 157 of Law 6,404/76 and CVM Instruction 358, of January 3, 2002, hereby informs that Anglo American and Mr Eike Batista, the controlling shareholder of MMX and IronX Mineração S.A. (“IronX”), announce that they are progressing the proposed transaction through which Anglo American will acquire control of IronX, the company that controls the Minas-Rio iron ore project and the Amapá iron ore system in Brazil.
In respect of the ongoing investigation in Brazil, Mr Batista has offered a personal indemnity, with no additional obligation on MMX, to cover any potential losses that may be incurred by Anglo American as a result of the investigation. Anglo American has accepted the terms of the indemnity and, subject to the satisfaction of final conditions under the transaction agreements, which the parties are diligently seeking to fulfil, the transaction will be completed by 5 August 2008.
Cynthia Carroll, Chief Executive of Anglo American, said: “I am delighted that we are in a position to move forward with this transaction to the benefit of all the projects’ stakeholders. The Amapá mine is already in production and the first phase of the Minas-Rio project is well under way. We are excited about developing these two projects further with the excellent team we have inherited from MMX.”
Eike Batista, Chairman and CEO of MMX, said: “We will continue to support Anglo American in its efforts to develop these significant iron ore projects in Brazil. Anglo American is already demonstrating its renowned expertise at developing projects of this scale and I look forward to working with Anglo to develop these projects to their full potential.”
Source: MMX Mineracao e Metalicos S.A.