Exhibit 1 Key Financial and Market Value Data, 2002-2011 (in millions of dollars except for

2002 2003 2004 2005 2006 2007

Balance Sheet

Cash and Marketable Securities 142 197 552 759 1,138 1,121

Total Current Assets 674 820 1,214 1,684 2,288 2,168

Net PP&E 1,817 2,303 2,466 3,052 4,804 7,648
Other Assets 1,058 1,674 2,743 3,602 4,887 2,500
Total Assets 3,549 4,797 6,423 8,338 11,979 12,316

Short-Term Borrowing and

Current portion of Long-Term 71 52 110 165 151 153
Debt
Total Current Liabilities 479 591 789 1,027 1,441 1,517
Long-Term Debt 647 654 610 788 1,257 1,666
Other Liabilities 897 866 1,041 1,103 2,213 1,990
Total Liabilities 2,023 2,111 2,441 2,918 4,911 5,173
Total Common Stock 1,288 2,522 3,807 4,937 6,368 6,400
Minority Interest 238 164 175 482 700 743
Total Equity 1,526 2,686 3,982 5,420 7,068 7,143

Earnings and Market Valuation

Revenue 1,321 1,852 2,456 2,879 2,966 4,851

COGS 885 1,185 1,302 1,468 1,554 2,421
Gross Profit 436 667 1,154 1,411 1,412 2,430
Operating Income 222 320 575 863 906 1,696
Net Income 98 168 332 512 489 982
Share Price 17.32 30.12 39.82 57.75 55.22 64.24
Number of Common Shares 185 223 230 244 256 278
Outstanding

Market Value of Common Equity 3,205 6,716 9,159 14,091 14,135 17,858

Market Value of Equity/Book 2.1 2.5 2.3 2.6 2 2.5

Value of Equity
Earnings/Share 0.53 0.75 1.44 2.1 1.91 3.53
Dividends/Share 0.18 0.18 0.35 0.45 0.45 0.7
Price/Earnings Ratio 33 40 28 28 29 18
lions of dollars except for ratios)

2008 2009 2010 2011

1,351 1,888 2,254 1,732

2,016 3,480 4,680 4,502

7,661 7,818 8,303 10,274
3,330 4,307 4,351 4,464
13,007 15,605 17,335 19,240

79 75 141 277

1,512 2,332 3,042 3,061

1,757 2,355 2,130 2,272
2,454 2,023 1,589 2,555
5,723 6,710 6,761 7,888
6,184 7,489 8,914 9,581
1,100 1,405 1,660 1,771
7,284 8,895 10,574 11,352

5,322 6,218 7,864 8,860

2,725 2,761 3,672 4,093
2,597 3,457 4,192 4,767
1,426 2,036 2,750 3,089
812 1,150 1,635 1,840
57.23 55.98 63.18 66.23
298 322 340 396

17,055 18,026 21,481 26,227

2.3 2 2 2.3
2.72 3.57 4.81 4.65
0.7 0.9 1.35 1.35
21 16 13 14
 Exhibit 3 Cash Flow Estimation with t

Line 2015 2016

Cash Flow Estimation with Price at $80/ton
1 Revenue: 2 million tons @ $80 160 160
2 Mining costsa 28.8 28.8
3 Smelting, refining, and freight costs 48 48
4 Operating profits 83.2 83.2
5 Depreciation and amortization 12 12
6 EBIT 71.2 71.2
7 Taxes @ 35% 24.9 24.9
8 Net income 46.3 46.3
9 Cash flow from operations 58.3 58.3
10 Return of working capitalb 0 0
11 Total cash flows 58.3 58.3
Cash Flow Estimation with Price at $100/ton
12 Revenue: 2 million tons @ $100 200 200
13 Mining costsa 28.8 28.8
14 Smelting, refining, and freight costs 48 48
15 Operating profits 123.2 123.2
16 Depreciation and amortization 12 12
17 EBIT 111.2 111.2
18 Taxes @ 35% 38.9 38.9
19 Net income 72.3 72.3
20 Cash flow from operations 84.3 84.3
21 Return of working capitalb 0 0
22 Total cash flows 84.3 84.3

a Mining costs were assumed to go up in steps. During the first half of the mining operations, costs were
b Of the original $200 million investment in capital for the project, $20 million was budgeted for working
ash Flow Estimation with the South African Investment Opportunity (in millions of dollars)

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

160 160 160 160 160 160 160 160 160 160
28.8 30.4 30.4 30.4 33.6 33.6 33.6 38.4 38.4 38.4
48 48 48 48 48 48 48 48 48 48
83.2 81.6 81.6 81.6 78.4 78.4 78.4 73.6 73.6 73.6
12 12 12 12 12 12 12 12 12 12
71.2 69.6 69.6 69.6 66.4 66.4 66.4 61.6 61.6 61.6
24.9 24.4 24.4 24.4 23.2 23.2 23.2 21.6 21.6 21.6
46.3 45.2 45.2 45.2 43.2 43.2 43.2 40 40 40
58.3 57.2 57.2 57.2 55.2 55.2 55.2 52 52 52
0 0 0 0 0 0 0 0 0 0
58.3 57.2 57.2 57.2 55.2 55.2 55.2 52 52 52

200 200 200 200 200 200 200 200 200 200
28.8 30.4 30.4 30.4 33.6 33.6 33.6 38.4 38.4 38.4
48 48 48 48 48 48 48 48 48 48
123.2 121.6 121.6 121.6 118.4 118.4 118.4 113.6 113.6 113.6
12 12 12 12 12 12 12 12 12 12
111.2 109.6 109.6 109.6 106.4 106.4 106.4 101.6 101.6 101.6
38.9 38.4 38.4 38.4 37.2 37.2 37.2 35.6 35.6 35.6
72.3 71.2 71.2 71.2 69.2 69.2 69.2 66 66 66
84.3 83.2 83.2 83.2 81.2 81.2 81.2 78 78 78
0 0 0 0 0 0 0 0 0 0
84.3 83.2 83.2 83.2 81.2 81.2 81.2 78 78 78

ning operations, costs were expected to be relatively low as a large portion of the iron ore was covered with little overburden. More expen
n was budgeted for working capital.
 2027 2028 2029 Total

160 160 160 2,400.00

38.4 38.4 38.4 508.8
48 48 48 720
73.6 73.6 73.6 1,171.20
12 12 12 180
61.6 61.6 61.6 991.2
21.6 21.6 21.6 346.9
40 40 40 644.3
52 52 52 824.3
0 0 20 20
52 52 72 844.3

200 200 200 3,000.00

38.4 38.4 38.4 508.8
48 48 48 720
113.6 113.6 113.6 1,771.20
12 12 12 180
101.6 101.6 101.6 1,591.20
35.6 35.6 35.6 556.9
66 66 66 1,034.30
78 78 78 1,214.30
0 0 20 20
78 78 98 1,234.30

overburden. More expensive mining would not be necessary until the later years of mine operation.
Exhibit 4 Sensitivity of NPV (in millions of dollars) to
Ore Prices versus Various Discount Rates

Discount rates Iron ore at $80 Iron ore at $100

5% $336.64 $581.42
6% 294.51 519.25
7% 256.97 463.8
8% 223.43 414.23
9% 193.41 369.81
10% 166.46 329.9
11% 142.23 293.97
12% 120.39 261.56
13% 100.66 232.24
14% 82.8 205.68
15% 66.61 181.57
16% 51.89 159.63
17% 38.5 139.63
18% 26.29 121.36
19% 15.13 104.66
20% 4.93 89.34
21% -4.43 75.29
22% -13.01 62.37
23% -20.91 50.46
24% -28.17 39.49
25% -34.87 29.35
26% -41.05 19.97
27% -46.77 11.28
28% -52.05 3.22
29% -56.95 -4.26
30% -61.5 -11.21
 Exhibit 5 : World Top 10 Countries in Iron Production, Consumption, and Steel
Production (Million Tons)

World Iron Ore Production by Smelter Location

Country 2005 2006 2007 2008 2009 2010 2011
China 420 588 707 824 880 1,070 1,200
Australia 262 275 299 342 394 433 480
Brazil 280 318 355 355 300 370 390
India 140 140 180 220 245 230 240
Russia 105 110 105 85 100 101 100
Ukraine 73 76 80 56 72 78 80
South
40 40 42 53 55 59 55
Africa
US 54 53 52 54 27 50 54
Canada 30 34 33 31 32 37 37
Iran 19 20 32 32 33 28 30
Rest of
267 246 315 248 262 134 134
World

World Total 1690 1900 2200 2300 2400 2590 2800

World Iron Ore Consumption

Country 2005 2006 2007 2008 2009 2010 2011
China 524 649 746 750 865 937 1,005
Japan 133 135 139 138 107 132 130
Russia 77 82 82 77 68 77 77
South
44 44 47 50 44 53 68
Korea
India 41 44 46 48 46 62 62
Brazil 54 52 57 56 41 51 53
US 58 61 57 55 31 44 48
Ukraine 58 61 57 50 41 44 46
Germany 46 49 50 47 32 47 44
Taiwan 16 16 17 15 13 15 21
Rest of
195 195 206 197 142 179 175
World

World Total 1,246 1,388 1,504 1,483 1,430 1,641 1,729

World Steel Production by Smelter Location

Country 2005 2006 2007 2008 2009 2010 2011
China 348 421 488 499 567 626 684
Japan 112 116 120 119 88 110 108
US 93 99 97 91 58 81 86
India 39 43 50 55 58 66 72
Russia 65 70 72 68 59 67 69
South
48 49 51 53 48 58 68
Korea
Germany 45 47 49 46 33 44 44
Ukraine 39 41 43 37 30 33 35
Brazil 32 31 34 34 27 33 35
Turkey 21 23 25 26 25 29 34
Rest of
263 276 286 276 204 247 256
World
World Total 1,105 1,216 1,315 1,304 1,197 1,394 1,491

Sources: US Geological Survey and Bloomberg

 Exhibit 6 : Tentative Capital

Line 2013 2014

Capital Takedown Schedulea
1 Senior secured debt—U.S. banks (10%) 10 50
2 Senior unsecured debt—Japanese and Korean banks (7%) 10 30
3 Senior subordinated debt —Chinese steel makers (9%) 20 40
4 Equity—New Earth Mining, Inc. 40 0
5 Total capital 80 120

Loan Principal Repayment Schedulea

6 Senior secured debt—U.S. banks (10%)
7 Senior unsecured debt—Japanese and Korean banks (7%)
8 Senior subordinated debt —Chinese steel makers (9%)
9 Total repayments

a Capital was to be supplied at the beginning of the year and repaid at the end of the year.
Exhibit 6 : Tentative Capital Takedown Plan and Loan Principal Repayment Schedule (in millions of dollars)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

0 8.5 8.1 8.5 8.2 7.8 7.1 6.1 5.7 0

0 5.4 5.2 5.1 4.8 3.9 3.5 3.2 2.3 2.1
0 0 0 0 0 0 0 8 8 8
0 13.9 13.3 13.6 13 11.7 10.6 17.3 16 10.1
2025 2026 2027 2028 2029 Total

60
40
60
40
200

0 0 0 0 0 60
2.2 2.3 0 0 0 40
8 8 8 8 4 60
10.2 10.3 8 8 4 160
 Exhibit 7 Projected Cash Flows f

Line 2013 2014 2015 2016

Cash Flow Estimation with Price at
$80/ton

1 EBIT (based on iron ore at $80/ton) 71.2 71.2

2 Interest 31.9 10.9

3 Pre-tax profit 39.3 60.3
4 Taxes @ 35% 13.8 21.1
5 Net income 25.5 39.2
6 Depreciation and amortization 12 12
7 Cash flows from operations 37.5 51.2
8 Working capital changes 0 0
Cash flow for debt repayment and
9 37.5 51.2
dividends
10 Contractual debt repayment 0 13.9

11 Debt payment under loan covenants 37.5 18.6

12 Cash available for equity holders 0 18.6

13 Equity investment 40 0 0 0
Exhibit 7 Projected Cash Flows for New Earth Equity Investment (in millions of dollars)

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

71.2 69.6 69.6 69.6 66.4 66.4 66.4 61.6 61.6 61.6

8 5.1 2.7 0.2 0 0 0 0 0 0

63.2 64.5 66.9 69.4 66.4 66.4 66.4 61.6 61.6 61.6
22.1 22.6 23.4 24.3 23.2 23.2 23.2 21.6 21.6 21.6
41.1 41.9 43.5 45.1 43.2 43.2 43.2 40 40 40
12 12 12 12 12 12 12 12 12 12
53.1 53.9 55.5 57.1 55.2 55.2 55.2 52 52 52
0 0 0 0 0 0 0 0 0 0

53.1 53.9 55.5 57.1 55.2 55.2 55.2 52 52 52

13.3 0 0 0 0 0 0 0 0 0

19.9 27 27.7 2 0 0 0 0 0 0

19.9 27 27.7 55.1 55.2 55.2 55.2 52 52 52

0 0 0 0 0 0 0 0 0 0
2027 2028 2029 Total

61.6 61.6 61.6 991.2

0 0 0 58.8
61.6 61.6 61.6 932.4
21.6 21.6 21.6 326.3
40 40 40 606.1
12 12 12 180
52 52 52 786.1
0 0 20 20

52 52 72 806.1

0 0 0 27.2

0 0 0 132.8

52 52 72 646.1
0 0 0 40
 Exhibit 8 Schedule of Debt Amortization

Loan Principal
Line 2015 2016 2017 2018 2019
Payment Schedule

Senior secured debt—

U.S. banks

1 Contractual repayment 0 8.5 8.1 0 0

2 Prepayment 22.5 11.2 9.7 0 0

Annual debt
3 22.5 19.7 17.8 0 0
amortization
Cumulative debt
4 22.5 42.2 60 60 60
amortization

Senior unsecured debt

—Japanese and Korean
banks

5 Contractual repayment 0 5.4 5.2 0 0

6 Prepayment 15 7.5 6.9 0 0

Annual debt
7 15 12.9 12.1 0 0
amortization
Cumulative debt
8 15 27.9 40 40 40
amortization

Senior subordinated
debt —Chinese steel
makers

9 Contractual repayment 0 0 0 0 0

10 Prepayment 0 0 3.3 27 27.7

Annual debt
11 0 0 3.3 27 27.7
amortization
Cumulative debt
12 0 0 3.3 30.2 58
amortization
 Total contractual
13 0 13.9 13.3 0 0
repayment
14 Total prepayment 37.5 18.6 19.9 27 27.7

15 Total debt amortization 37.5 32.5 33.2 27 27.7

dule of Debt Amortization Including Prepayments (in millions of dollars)

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029

0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

60 60 60 60 60 60 60 60 60 60

0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

40 40 40 40 40 40 40 40 40 40

0 0 0 0 0 0 0 0 0 0

2 0 0 0 0 0 0 0 0 0

2 0 0 0 0 0 0 0 0 0

60 60 60 60 60 60 60 60 60 60
0 0 0 0 0 0 0 0 0 0

2 0 0 0 0 0 0 0 0 0

2 0 0 0 0 0 0 0 0 0
Total

16.6

43.4

60

10.6

29.4

40

60

60
27.2

132.8

160