October 15, 2008 11:06 ET

MMX Comments on Press Articles

RIO DE JANEIRO, BRAZIL--(Marketwire - October 15, 2008) - MMX Mineração e Metálicos S.A. ("MMX" or the "Company") (BOVESPA: MMXM3) (TSX: XMM), in the light of press articles published today on the Brazilian press concerning its supposed decision to discontinue the production of pig iron by its subsidiary MMX Metálicos Corumbá Ltda. ("MMX Mettalics"), hereby clarifies that:

MMX has not made the decision to suspend or discontinue the production of pig iron at MMX Metallics's mill. The declaration by the Company's Chief Executive Officer of a possible suspension of MMX Metallics's pig iron production was made exclusively to emphasize MMX's commitment with the environment, including its pledge of purchasing exclusively legally licensed charcoal. In the absence of legally licensed charcoal sources, the Company may potentially take the extreme decision of shutting down its pig iron production.

MMX, however, does not envisage at this moment any risk concerning the supply of legally licensed charcoal at Corumbá.

MMX further elucidates that it has absolute respect for environmental and labor laws and will hold true to all commitments made to the Brazilian authorities. Conscientious of its social and environmental responsibilities, MMX will continue its charcoal self-sufficiency program and is also working actively in the surveillance and education of its charcoal suppliers.

Finally, MMX clarifies that it has provided its legal defense against the existing administrative procedures seeking to fine MMX Metallics for supposed environmental offenses, and that, as notified in the press release of July 21, 2008, MMX believes it has strong legal grounds of defense.

MMX Mineração e Metálicos S.A.

Nelson José Guitti Guimarães
Chief Financial and Investor Relations Officer