MMX Announces Investment Plan for AVG with the Conclusion of the Acquisition



    RIO DE JANEIRO, BRAZIL, Dec. 13 /CNW/ - MMX Mineracao e Metalicos S.A.
("MMX" or the "Company") (PINK SHEETS:MMXMY) (BOVESPA:MMXM3) (TSX:XMM),
pursuant to article 157 of Law 6404/76, and CVM Instruction No. 358/02, hereby
makes the following announcement:

    MMX has concluded the purchase of 100% of AVG Mineracao S.A. ("AVG")
shares, for US$224 million, as expected, in line with the MMX and AVG
shareholders agreement announced on July 5, 2007. The purchase price may
accrete by a variable portion, capped at US$50 million, subject to the
attainment of the necessary environmental permits for certain mining rights,
which may increase the mining reserves base of the acquired company.

    The first installment of the purchase price, in the amount of US$44
million (R$79.2 million), has been paid and the remaining four installments of
US$45 million each will be paid on August 30th of the next four years.

    MMX has found that AVG's production capacity may be increased from the
current 2.3 million tons to 5.8 million tons per year, given results of
technical studies and due diligence performed on AVG. MMX believes that AVG
may increase its overall efficiency and productivity, due to: 1) improvement
in AVG's operational process; 2) replacement of equipments near the useful
life end, and; 3) implementation of maintenance procedures and routines.

    MMX's management has approved, on this date, an investment plan for AVG
in 2008 and 2009, with a total estimated value of US$32 million, of which
US$12 million for current investments and US$20 million for expansion
investment.

    In the future, MMX plans to expand its investment in AVG to initiate a
second stage in AVG's production capacity, which should exceed the planned 5.8
million tons per year, and, for this purpose, is continuing the engineering
studies that will sustain the new expansion.

    For more information, please contact ri@mmx.com.br.

    
             Rio de Janeiro, December 13, 2007

                Luiz Rodolfo Landim Machado
    Executive President and Investor Relations Officer
               MMX Mineracao e Metalicos S.A.
    

    FORWARD-LOOKING STATEMENTS: This material fact contains certain
"forward-looking statements" and "forward-looking information" under
applicable Canadian securities laws concerning the proposed acquisition
operation and the business plan, the operations and financial performance and
condition of MMX, and estimated production and mine life of the acquired
mineral project. Except for statements of historical fact relating to MMX,
certain information contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words such as
"plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and
other similar words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and are made
taking into consideration a number of assumptions and, therefore are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in the
forward-looking statements. Assumptions upon which such forward-looking
statements are based include MMX being successful in acquiring 100% of the
issued and outstanding shares of AVG, any necessary third party, regulatory or
governmental approvals for the acquisition operation being obtained, all
required environmental and other licenses being obtained and all other
conditions to the completion of the acquisition transaction will be satisfied
or waived. Many of these assumptions are based on factors and events that are
not within the control of MMX and there is no assurance they will prove to be
correct. Factors that could cause actual results to vary materially from
results anticipated by such forward-looking statements include changes in
market conditions, variations in ore grade or recovery rates, risks relating
to international operations, fluctuating metal prices and currency exchange
rates, changes in project parameters, the possibility of unanticipated costs
and expenses, failure of plant, equipment or processes to operate as
anticipated, the failure to obtain necessary licenses or permitting, the
acquired mineral project not being integrated successfully or such integration
proving more difficult, time consuming or costly than expected, and other
risks of the mining industry. Although MMX has attempted to identify the
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. MMX
undertakes no obligation to update forward-looking statements if circumstances
or management's estimates or opinions should change, except as required by
applicable securities laws. The reader is cautioned not to place undue
reliance on forward-looking statements.





For further information:

For further information: MMX Investor Relations: Elizabeth Cruz, 55 21
2555-5634 or Gina Pinto, 55 21 2555-5558 ri@mmx.com.br www.mmx.com.br/ri

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