Welcome to our dedicated page for Nexa Resources news (Ticker: NEXA), a resource for investors and traders seeking the latest updates and insights on Nexa Resources stock.
Nexa Resources S.A. operates as an integrated polymetallic producer with zinc as its main product, combining mining and smelting assets in Latin America. Company news commonly covers operating results from its mining and smelting segments, zinc, copper, lead and silver production, metal sales, cost guidance, and the effect of metal prices on earnings and cash flow.
Updates also focus on Nexa's five polymetallic mines in Peru and Brazil, its zinc smelters at Três Marias, Juiz de Fora and Cajamarquilla, mineral reserves and resources, exploration drilling, sustainability reporting, permitting matters, and operating developments at assets such as Aripuanã, Cerro Lindo, Atacocha, El Porvenir and Vazante.
Nexa Resources announced operational achievements for the year ending December 31, 2020, highlighting metal sales of 585kt, surpassing guidance. Zinc production in 4Q20 reached 92kt, an 11% increase year-over-year. C1 cash costs improved, with mining costs at US$0.39/lb, 14% below guidance. For 2021, Nexa forecasts an 8% rise in zinc production and stable sales. Capital expenditures for 2021 are projected at US$450 million, with US$232 million allocated to the Aripuanã project. Full financial results to be published on February 11, 2021.
Nexa Resources has reported its 3Q20 Results, highlighting consolidated net revenue of US$538 million, down from US$564 million year-over-year. Zinc production fell 16% to 82kt due to a gradual ramp-up in Peru, while adjusted EBITDA increased to US$152 million, up from US$58 million a year prior. The net loss was US$35 million, largely attributed to a US$65 million impairment loss. Despite challenges, Nexa maintains solid liquidity of US$985 million in cash and updates its 2020 production guidance with a focus on growth and capital discipline.
Nexa Resources has provided an update on its Aripuanã project, an underground polymetallic mine in Brazil, now facing a revised CAPEX of US$547 million due to challenges in project execution and the impact of COVID-19. Production is scheduled to commence in early 2022, with estimated annual zinc equivalent production of 119kt over 11 years. The company's CEO expressed confidence in overcoming previous challenges, noting potential mine life extension beyond 20 years. A new technical report will be filed on SEDAR in November 2020.