MMX Executes Agreement for the Purchase of Minerminas

RIO DE JANEIRO, BRAZIL, Jan 15 (MARKET WIRE) --
MMX Mineracao e Metalicos S.A. ("MMX" or the "Company") (BOVESPA: MMXM3)
(TSX: XMM), pursuant to article 157 of Law 6404/76, and CVM Instruction No.
358/02, hereby makes the following announcement:

The Company has entered into an agreement with the shareholders of
Minerminas - Mineradora Minas Gerais Ltda. ("Minerminas"), by which AVX
Mineracao Ltda. ("AVX"), its direct subsidiary, will, subject to certain
conditions that are customary to this type of transaction, acquire 100% of
the issued and outstanding shares of capital stock of Minerminas.

Consummation of the purchase of Minerminas by AVX should occur in the
firstquarter of 2008 upon fulfillment of the above-mentioned conditions. With
the
conclusion of the operation, AVX will pay as consideration for 100% of the
shares of Minerminas the purchase price of US$125,000,000, payable in 7
semi-annual consecutive installments.

Minerminas operates an iron ore mine adjacent to the operations of AVG
Mineracao S.A. ("AVG"), an indirect subsidiary of the Company, and also owns
other mining rights and leases in the Serra Azul region, in Minas Gerais.

According to information provided by Minerminas, the company produced
approximately 700,000 tons of iron ore in 2007. Based on the Company's
estimates,
the Minerminas production may reach 2.6 million tons in 2008 with the
following breakdown: 550,000 tons of lump, 1.9 million tons of sinter feed
and 150,000 tons of pellet feed.

The Company, through its subsidiary AVX, should merge the operations of
AVGwith those of Minerminas in order to achieve synergies and efficiency gains.
The
Company estimates that the integrated operations of AVX will result in iron
ore production of 6.1 million tons in 2008, while engineering studies will be
carried out to increase production to 8 million tons in 2009. For this, the
Company plans to invest US$ 8.1 million in 2008 to improve operations in
Minerminas, in addition to the investments planned for the expansion of
production at AVG.

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

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 and its subsidiaries being fully successful
in acquiring 100% of the issued and outstanding shares of Minerminas, any
eventual
thirdparty, 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
materiallyfrom 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.

MMX - Investor Relations
Elizabeth Cruz / Gina Pinto
Tel. 55 21 2555-5634 / 2555-5558
Email Contact
www.mmx.com.br/ri

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