http://www.mmx.com.br/pt/Paginas/default.aspx
MMX Mineração e Metálicos S.A., together with its subsidiaries, is engaged in the extraction, processing, research, and development of minerals in Brazil. The company operates through Sudeste System, Corumbá System, and Sudeste Superport segments. It is also involved in the sale of iron ore. The company’s projects comprise the Sudeste System that consists of an iron ore extraction and sale unit in the State of Minas Gerais; and the Corumbá System, which includes the iron ore extracting unit that produces lump and small portion of fines located in Mato Grosso do Sul. Further, it is engaged in the logistics and port operations in the Sudeste Superport, a mixed-use private port terminal for the handling of iron ore. The company is based in Rio de Janeiro, Brazil.
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MMX is the mining company of the EBX Group founded in 2005. It is engaged in the extraction, beneficiation and sale of iron ore and minerals in Brazil and Chile.
Currently, MMX has the capacity to produce 10.8 million tonnes per year (mtpy) of iron ore. The company invests in the expansion of the total installed capacity to reach an output up to 40 mtpy of iron ore. The company operates through of two systems in Brazil, it's the Sistema Sudeste (Southeast System) e Sistema Corumbá (Corumbá System) and in Chile.
The Sistema Sudeste is made up of units Serra Azul and Good Success. In the region of Serra Azul - Iron Quadrangle in Minas Gerais - MMX operates the mines, Tico Tico and Ipê acquired, respectively, in late 2007 and early 2008.
The Serra Azul Unit has installed capacity to annually produce 8.7 million tons of iron ore. In December 2010, MMX announced investments of $3.5 billion to expand capacity to 24 million tons per year.
In February 2011, MMX has acquired the right to explore for 30 years the Pau de Vinho Mine which is owned by Usiminas. The mine is located in an area adjacent to Blue Mountain Drive, which optimizes its operation. Early studies show that Pau de Vinho Mine can add more than 8 million tons of iron ore per year to the production of MMX in the region.
The iron ore produced at Serra Azul is sold to customers in Brazil and abroad. Currently, the flow of production to the foreign market is done by rail to the port of the CSN, located in Itaguai. From 2013 to use the MMX's Superporto Sudeste newer assets of the company to export iron ore.In Bom Sucesso, Midwest region of Minas Gerais, MMX has the Bom Sucesso Unit, which is in the process of environmental licensing.
The MMX has also the Sistema Corumbá, in Mato Grosso do Sul, in operation since 2005, whose annual production capacity is 2.1 million tons. Part of the production of Corumbá is drained by the Paraguay River to the Port of Campana, Argentina, where iron ore is shipped to foreign customers, especially Argentina and European countries. The other part is transported by truck to domestic steel mills.
In Chile, MMX operates through its subsidiary Minera MMX de Chile, which holds mining rights for the extraction of iron in the region of the Atacama Desert. The project is undertaking geological surveys. MMX expected to be producing 10 million tons of iron ore per year by 2016.
Superporto Sudeste[edit]
The Superporto Sudeste is a mega private port terminal mixed-use, dedicated to the movement of iron ore, which is being built on the island of Madeira, in the municipality of Itaguai, in Rio de Janeiro state. Strategically located, the Southeast Superport represents the shortest distance between the Iron Quadrangle in Minas Gerais and the sea. The construction of the project was initiated in July 2010 and is expected to begin operation in 2013.
With the start of operations in Southeast Superport, MMX entire production is exported. The transportation of iron ore from mine to port, will be guaranteed by the MRS, the railroad that connects the Iron Quadrangle in Minas Gerais to Itaguaí, in Rio de Janeiro, where the MMX builds Superporto Sudeste
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MMX is the mining company of the EBX Group founded in 2005. It is engaged in
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Insiders at mmx mineracao e metalicos sa (MMXM3)
| Name (Connections) |
Board Relationships |
Title |
Type of Board Member |
Age |
| Eike Batista |
25 Relationships |
Founder, Owner and Chairman |
-- |
-- |
Other Board Members on Board*
| Name (Connections) |
Board Relationships |
Type of Board Member |
Primary Company |
Age |
| Eliezer da Silva |
58 Relationships |
-- |
Prumo Logística Global |
88 |
| Samir Zraick |
30 Relationships |
-- |
MMX Mineracao e Metalicos S.A. |
72 |
| Luiz de França Pereira |
23 Relationships |
-- |
Eneva S.A. |
76 |
| Xuhui Liu |
10 Relationships |
-- |
MMX Mineracao e Metalicos S.A. |
39 |
| In-Goo Hwang |
7 Relationships |
-- |
MMX Mineracao e Metalicos S.A. |
54 |
| Liwu Li |
7 Relationships |
-- |
MMX Mineracao e Metalicos S.A. |
-- |
| Linhong Zhang |
7 Relationships |
-- |
MMX Mineracao e Metalicos S.A. |
-- |
*Data is at least as current as the most recent Definitive Proxy.
Board of Directors
|
Board of Directors
|
Position
|
|
Eike Fuhrken Batista |
Chairman |
|
Eliezer Batista da Silva |
Honorary-Chairman |
|
Li Liwu |
Member of the Board of Directors |
|
Luiz do Amaral de França Pereira |
Member of the Board of Directors |
|
Samir Zraick |
Independent Member of the Board of Directors |
| Linhong Zhang |
Member of the Board of Directors |
| Young Bin Yim |
Member of the Board of Directors |
Eike Fuhrken Batista studied Metallurgical Engineering at Aachen University in Germany. He is the founder of the EBX Group and is currently Chairman of the Board of Directors of OGX Petróleo e Gás Participações S.A. (since 2007), as well as Chairman of the Board of Directors of OSX Brasil S.A. (since 2009), MMX Mineração e Metálicos S.A. (since 2005), MPX Energia S.A. (since 2007), LLX Logística S.A (since 2007), IMX Holding S.A. (since 2011) and CCX Carvão da Colômbia S.A. (since 2012), all of which are also EBX Group companies. In addition, he served as CEO of OGX Petróleo e Gás Participações S.A. (2007-2012), Chairman and CEO of TVX Gold Inc. (1986-2001), a publicly-held gold mining company traded on the Toronto Stock Exchange and New York Stock Exchange.
Eliezer Batista da Silva graduated with a degree in Civil Engineering from the Universidade do Paraná and obtained education and training in the United States and Europe. He is currently Honorary Chairman of the Board of Directors of MMX Mineração e Metálicos S.A. (since 2005) and of LLX Logística S.A (since 2007), and Vice-Chairman of the Board of Directors of OGX Petróleo e Gás Participações S.A. (since 2007), OSX Brasil S.A. (since 2009), MPX Energia S.A. (since 2007) and CCX Carvão da Colômbia S.A. (since 2012), which are also EBX Group companies. In addition, he is a member of the Board of Directors of the Monteiro Aranha Group, BUNGE Group, NEXANS Brasil S/A, a member of the Centro Brasileiro de Relações Internacionais (CEBRI/Rio), a member of the Russian Academy of Science, a member of the World Business Council for Sustainable Development, a member of the Board of Directors of IBIO – Instituto Bio Atlântica and of Lorinvest – Gestão de Recursos Ltda., and Honorary President of the Brazil-Japan Eminent Persons Group.
Li Liwu earned a degree in Mining Engineering from Chongqing University and a Master in Mining Engineering from University of Science and Technology Beijing. He is currently member of the Board of Directors of MMX Mineração e Metálicos S.A. (since 2012), an EBX Group Company. He is also Deputy Manager in Chengchao Mining-WISCO (since 2011). He has more than 20 years of experience in the mining sector, having acted as Director of Technical Projecting Department and Director of Technical Transformation Engineering Department.
Luiz do Amaral de França Pereira graduated with a degree in Civil Engineering from Universidade Federal do Paraná, attended the Stanford Executive Program at Stanford University, and completed several courses in business administration and corporate finance. Currently, he is member of the Board of Directors of LLX Logística S.A. (since 2007), MMX Mineração e Metálicos S.A. (since 2007), MPX Energia S.A. (since 2007), OSX Brazil S.A. (since 2010), OGX Petróleo e Participações S.A. (since 2011) and CCX Carvão da Colômbia S.A. (since 2012). He acts as a member of the Audit Committee of OGX Petróleo e Gás Participações S.A., OSX Brazil S.A., MMX Mineração e Metálicos S.A., MPX Energia S.A. and LLX Logística S.A. In addition, he was a member of the Advisory Board of Instituto Desiderata, member of the Board of Directors of Brasil Florestas S.A., worked at the Caemi Group as Vice-President of Finance and Investor Relations for Caemi Mineração e Metalurgia and as a member of the Boards of Directors of its subsidiaries and affiliates, and later was a member of such company’s Board of Directors. He was Chief Administrative-Financial Officer and Executive Officer of various Bozano Simonsen Group companies, Executive Vice-President of the Monteiro Aranha Group and member of the Board of Directors of the companies controlled by the Group. He also worked for nearly 20 years at Vale do Rio Doce, first in various technical and executive positions and later as Chief Financial Officer, Chief Executive Officer, Investor Relations Officer and Vice-Chairman of the Board of Directors, as well as member of the Board of Directors of its subsidiaries and affiliates.
Samir Zraick graduated with a degree in Electronic Engineering from the Escola Politécnica da Universidade Católica do Rio de Janeiro, holds a master’s degree in Electronic Engineering from Delft University in Delft, Netherlands, earned a Doctorate in the Faculté dês Sciences of the University of Paris, and completed post-graduate studies at COPPE, UFRJ - Professor of Digital Techniques (1966-1968). He is currently a member of the Board of Directors of MMX Mineração e Metálicos S.A. (since 2006), MPX Energia S.A. (since 2007), LLX Logística S.A. (since 2007), OSX Brazil S.A. (since 2010) and OGX Petróleo e Gás Participações S.A. (since 2011), CCX Carvão da Colômbia S.A. (since 2012), which are all companies of the EBX Group. He is also a member of the audit committees of OGX Petróleo e Gás Participações S.A., OSX Brazil S.A., MPX Energia S.A., MMX Mineração e Metálicos S.A. and LLX Logística S.A. In addition, he is a member of the Board of Directors of EMBRAER (since 2006) and was formerly a member of the Board of Directors of Canico Resources Co. (2004-2005), a member of the Strategic Committee of Vale do Rio Doce (2004), where he was also Special Advisor to the Strategic Committee (2000-2004) and member of the Board of Directors as representative of Soros Equity Fund (2000), Special Advisor to the Board of Directors of TVX Gold IND (1998-2001), member of the Board of Directors and Chairman of the Marketing Committee of QCM (1990-1999), Chief Financial and Development Officer of Caemi – Mineração e Metalurgia S.A. (1986-1998), President of Rio Doce América (1984-1986), Chief Financial Officer of Vale do Rio Doce (Implementation of the Carajás Project 1979-1984), Vice-president of Rio Doce (Subsidiary 1975-1979), General Systems Manager and Superintendent of Control of Vale do Rio Doce (1971-1986). He also worked as Systems and Basic Software Development Analyst at the European Multinational Agency for upper space air traffic, in connection with his doctoral dissertation in France (1969-1970).
Linhong Zhang, Director appointed by the shareholder Wisco Brasil Investimentos em Metalurgia Ltda. (“Wisco Brasil”) is the Investment Officer of Wisco Overseas Mineral Department and Financial Officer of Wisco Brasil since April, 2013. He started his career at Wisco Group in 2004, and held several positions, such as Financial Officer of Wugang Canada Resources Investment Limited and officer responsible for the assets management division. Linhong Zhang has a master degree in Finance from Northeastern University, business and management school, and has a degree in metallurgical engineering from Northeastern University, material science and metallurgy school.
Young Bin Yim is an economist with bachelor degree at International Economics by the Seoul University and appointed to act as member of the Board of Directors of MMX Mineração e Metálicos S.A. by the shareholder, SK Networks Co., Ltd. He has more than 25 years of experience in SK Group, having acted as Vice-President of the Resource Business in China and, currently, is the Head of the Coal Business Division of SK Networks.
| Carlos Roberto de Castro Gonzalez |
Chief Executive Officer and Investor Relations Officer |
| Ricardo Furquim Werneck Guimarães |
Commercial and Operations Director |
| Ricardo de Souza Assef |
Chief Financial Officer |
Carlos Roberto de Castro Gonzalez graduated with a degree in Geology and Mining Engineering from Universidade Federal de Ouro Preto and with a MBA in Business Management and Strategy from FEA/USP. Mr. Gonzalez has more than 20 years of experience in the mining industry. He developed his career at Vale, being responsible for the Operations at Carajás as General Manager. He worked at EBX Group as Mining Director, having participated in several MMX Mineração e Metálicos S.A. projects since its conception. In 2008, he held the position of COO (Chief Operating Officer) on Minas Rio Project (Anglo American). He returned to EBX Group in 2011, as officer at EBX Holding.
Ricardo Furquim Werneck Guimarães graduated with a degree in Economics from Universidade Federal do Espírito Santo and with a MBA in International Business from Fundação Getúlio Vargas. Mr. Werneck has more than 15 years of experience in commercial department of the mining industry, having launched MMX in the seaborne iron ore market in 2006. He remained at MMX until 2008, when he was transferred to Anglo American as a result of the sale of assets in Minas-Rio and Amapá. During his career, he also held positions in Vale, Nova Era Silicon, Companhia Siderúrgica Tubarão, Anglo American and he returned to EBX Group in 2012, holding the position of the General Manager in charge of the strategic planning department of LLX Logística S.A.
Ricardo de Souza Assef graduated from the University of Minnesota with a Degree in International Administration, Ricardo de Souza Assef also has a Post-graduate Degree in Foreign Trade from the Federal District University of Brasilia, and an MBA in Finance from the Brazilian Capital Markets Institute (IBMEC) in Rio de Janeiro.
He has over 20 years of professional experience, beginning his career as a financial advisor at the UN, with posts in Brazil and also in Angola, Rwanda and Bolivia. He has held the position of CFO with VATECH Finance do Brasil and VATECH Finance Latin America and subsequently joined Odebrecht Investments. He joined the EBX Group in 2008 as Chief Financial Officer of the power company Porto do Itaqui Geração de Energia S.A. Ricardo de Souza Assef also served as CFO of the Parnaíba Geração de Energia I & II power company.
| Samir Zraick |
Member of the Audit Committee (Chairman) |
|
| Luiz do Amaral de França Pereira |
Member of the Audit Committee |
| Ri |
|
| avia Carsalade Herbster de Gusmão |
Member of the Audit Committee
|
Samir Zraick graduated with a degree in Electronic Engineering from the Escola Politécnica da Universidade Católica do Rio de Janeiro, holds a master’s degree in Electronic Engineering from Delft University in Delft, Netherlands, earned a Doctorate in the Faculté dês Sciences of the University of Paris, and completed post-graduate studies at COPPE, UFRJ - Professor of Digital Techniques (1966-1968). He is currently a member of the Board of Directors of MMX Mineração e Metálicos S.A. (since 2006), MPX Energia S.A. (since 2007), LLX Logística S.A. (since 2007), OSX Brazil S.A. (since 2010) and OGX Petróleo e Gás Participações S.A. (since 2011), CCX Carvão da Colômbia S.A. (since 2012), which are all companies of the EBX Group. He is also a member of the audit committees of OGX Petróleo e Gás Participações S.A., OSX Brazil S.A., MPX Energia S.A., MMX Mineração e Metálicos S.A. and LLX Logística S.A. In addition, he is a member of the Board of Directors of EMBRAER (since 2006) and was formerly a member of the Board of Directors of Canico Resources Co. (2004-2005), a member of the Strategic Committee of Vale do Rio Doce (2004), where he was also Special Advisor to the Strategic Committee (2000-2004) and member of the Board of Directors as representative of Soros Equity Fund (2000), Special Advisor to the Board of Directors of TVX Gold IND (1998-2001), member of the Board of Directors and Chairman of the Marketing Committee of QCM (1990-1999), Chief Financial and Development Officer of Caemi – Mineração e Metalurgia S.A. (1986-1998), President of Rio Doce América (1984-1986), Chief Financial Officer of Vale do Rio Doce (Implementation of the Carajás Project 1979-1984), Vice-president of Rio Doce (Subsidiary 1975-1979), General Systems Manager and Superintendent of Control of Vale do Rio Doce (1971-1986). He also worked as Systems and Basic Software Development Analyst at the European Multinational Agency for upper space air traffic, in connection with his doctoral dissertation in France (1969-1970).
Luiz do Amaral de França Pereira graduated with a degree in Civil Engineering from Universidade Federal do Paraná, attended the Stanford Executive Program at Stanford University, and completed several courses in business administration and corporate finance. Currently, he is an independent member of the Board of Directors of LLX Logística S.A. (since 2007), MMX Mineração e Metálicos S.A. (since 2007), MPX Energia S.A. (since 2007), OSX Brazil S.A. (since 2010), OGX Petróleo e Participações S.A. (since 2011) and CCX Carvão da Colômbia S.A. (since 2012). He acts as a member of the Audit Committee of OGX Petróleo e Gás Participações S.A., OSX Brazil S.A., MMX Mineração e Metálicos S.A., MPX Energia S.A. and LLX Logística S.A. In addition, he was a member of the Advisory Board of Instituto Desiderata, member of the Board of Directors of Brasil Florestas S.A., worked at the Caemi Group as Vice-President of Finance and Investor Relations for Caemi Mineração e Metalurgia and as a member of the Boards of Directors of its subsidiaries and affiliates, and later was a member of such company’s Board of Directors. He was Chief Administrative-Financial Officer and Executive Officer of various Bozano Simonsen Group companies, Executive Vice-President of the Monteiro Aranha Group and member of the Board of Directors of the companies controlled by the Group. He also worked for nearly 20 years at Vale do Rio Doce, first in various technical and executive positions and later as Chief Financial Officer, Chief Executive Officer, Investor Relations Officer and Vice-Chairman of the Board of Directors, as well as member of the Board of Directors of its subsidiaries and affiliates.
Riv
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avia Carsalade Herbster de Gusmão graduated with a degree in Economics from the Universidade Federal de Minas Gerais. He is a member of the Audit Committees of MMX Mineração e Metálicos S.A. (2006-2007, and since 2009) and MPX Energia S.A. (since 2008), both EBX Group companies. In addition, acts as an independent consultant in the areas of mining and metallurgy, finance and strategy in Brazil and in Africa. He is a member of the Board of Directors of Sambazon Inc. of San Clemente, California – USA, General Manager of Açaí do Amapá Ltda. (since 2005), Executive Officer of Billiton Metais S.A. (1996-2003), having served in the areas of planning, Corporate Finance and business development, with broad international experience, Chief Financial Officer of São Bento Mining S.A. (1987-1996), gold mining and subsidiary of the South African Group Gencor Intl., Vice President of Marketing for Mendes Junior International (1980-1987), responsible for business development in Latin America and West Africa (1970-1979), has held positions of senior management in the Mining and metallurgy Unamgen Mineração e Metalurgia Ltda., Grupo Financeiro Metropolitana (Merchant Banking) and Construtora Rabello S.A. (Treasury, costs and Budgets).
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MMXM3:Sao Paulo)
As of 4:06 PM 05/23/14 All times are local (Market data is delayed by at least 15 minutes).
mmx mineracao e metalicos sa (MMXM3) Snapshot
|
Open
R$2.60 |
|
Previous Close
R$2.60 |
|
Day High
R$2.64 |
|
Day Low
R$2.55 |
|
52 Week High
08/20/13 - R$15.24 |
|
52 Week Low
03/17/14 - R$2.32 |
|
Market Cap
415.2M |
|
Average Volume 10 Days
1.8M |
|
EPS TTM
R$-13.56 |
|
Shares Outstanding
162.2M |
|
EX-Date
-- |
|
P/E TM
-- |
|
Dividend
-- |
|
Dividend Yield
-- |
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Corporate Governance
In 2000, BM&FBovespa launched into the Brazilian capital market three special listing segments (Level 1, Level 2 and New Market) for companies that voluntarily commit themselves to adopt differentiated practices of corporate governance. Such practices extend the rights of shareholders and increase the dissemination of information requirements, regarding to those already imposed by Brazilian laws. The aim of BM&FBovespa with the creation of different levels of corporate governance was to provide a business environment that encouraged, simultaneously, the interest of investors and the valuation of companies.
MMX Mineração e Metálicos S.A. as well as the other listed companies of EBX Group, adhered to the rules of New Market, a listing segment that represents the highest level of demand in terms of corporate governance, demonstrating the commitment of the company and EBX Group with the principles of disclosure, fairness, accountability and corporate responsibility.
Another example of the commitment of MMX Mineração e Metálicos S.A. with the corporate governance practices was the creation of the Code of Conduct, a document that compiles the ethical principles that should guide the actions of its Collaborators as to consistency between their speech and conduct, both internally and externally. Such principles should guide the way in which the EBX Group’s companies and Collaborators conduct business, in accordance with the highest standards of ethical conduct, focusing on applicable law.
For more information about the corporate governance group practices, click here.
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Corporate Governance Structure
Page Content
The Corporate Governance structure of MMX Mineração e Metálicos S.A., as well as EBX Group, integrates strong decision-making processes and mechanisms that ensure speed, efficiency and quality. This model represents the continuous search for the improvement of the practices adopted and the balance of the rights of its shareholders and other stakeholders.
MMX Mineração e Metálicos S.A. currently, has the following corporate governance structure:
