MMX Mineracao e Metalicos S.A. reported consolidated earnings and production results for the first quarter of 2014. For the quarter, the company reported net revenues of BRL 110.4 million compared to BRL 237.0 million reported in the same period last year. Earnings before tax on net income was BRL 56 million against BRL 46.4 million reported last year. Net loss attributed to the controlling shareholders was BRL 69.2 million against BRL 55.2 million reported last year. EBITDA was BRL 79.4 million against BRL 6.3 million reported last year. Adjusted EBITDA loss was BRL 501.3 million against adjusted EBITDA of BRL 3.1 million reported last year. Net debt at the end of the period was BRL 160.0 million against BRL 2,020.6 million at the end of first quarter of 2013.

Iron ore production in the quarter was 1,385,000 tons compared to 1,545,000 tons produces in the same period last year.