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 released its drilling and assay results for the fourth quarter and full year of 2022, highlighting a total drilling production of 259,314 meters. This includes 116,730 meters of exploratory drilling, achieving 95% of planned activities. Significant findings include high-grade mineralization at the Aripuanã project, with results such as 26.0 meters @ 8.36% Zn and 6.1 meters @ 22.85% Zn. Future exploratory drilling plans for early 2023 include an estimated 16,200 meters across various regions. The company continues to demonstrate potential for extending the life of its mining operations.
Nexa Resources reported its financial results for Q3 and 9M 2022, revealing net revenues of US$703 million, up 7.3% year-over-year. However, net income showed a loss of US$40 million, largely due to significant declines in metal prices and rising operational costs. Zinc production fell by 5% compared to Q3 2021, impacted by lower output at Cerro Lindo. Despite a strong balance sheet, Nexa faces challenges from inflation and global market volatility. The Aripuanã project is on track for commercial production in December, with ongoing cost reduction strategies in place to combat economic pressures.
Nexa Resources has released its third-quarter 2022 drilling and assay results, highlighting a focus on near-mine expansion and infill drilling, particularly at the Aripuanã project. By the end of the quarter, cumulative drilling reached 199,639 meters, with 24,693 meters drilled in Q3 alone. Results indicate potential for extending mine life, especially at Cerro Lindo and the Pasco complex, where significant mineralization was reported. The Hilariôn project also showed promising skarn mineralization. The company plans further exploratory drilling of 28,380 meters in the upcoming quarter.
Summary not available.
Summary not available.
Nexa Resources has appointed José Carlos del Valle as its new Senior Vice-President of Finance and Group Chief Financial Officer, effective October 3, 2022. With over 25 years of experience in the metals and mining sector, del Valle previously served as CFO at Compañía Minera Antamina, where he managed a $1 billion syndicated loan. He holds degrees from California State University and an MBA from Wharton. Nexa operates five underground mines in Latin America and ranked among the top five global zinc producers in 2021.
Nexa Resources reported strong financial results for Q2 2022, achieving a record-high Adjusted EBITDA of US$286 million, driven by higher base metal prices, contributing to a 20% increase in net revenues to US$1,552 million for the first half. Zinc production rose to 79kt, a 19% increase quarter-over-quarter. However, the company highlighted ongoing challenges from global market volatility and inflationary pressures. Looking ahead, Nexa is focused on operational efficiency and sustainability while managing risks related to the Russia-Ukraine war and potential economic downturns.
Nexa Resources reports its second quarter 2022 drilling and assay results, indicating a strong focus on near-mine expansion and infill drilling. Cumulative drilling production reached 132,302 meters, with 34,434 meters from exploratory drilling. Significant results include intersections at Cerro Lindo and the Pasco complex, with notable grades of zinc, lead, silver, and gold. Future exploratory drilling plans total 24,900 meters, distributed across Peru, Brazil, and Namibia. Overall, Nexa aims to expand its mineral resources while enhancing life-of-mine in its operations.
Nexa Resources has commenced ramp-up activities at its Aripuanã polymetallic mine in Brazil, part of a project noted for its sustainable practices. The mine is projected to reach a milling capacity of 30-40% by 3Q22 and achieve full production by 2Q23. 2022 production estimates remain at 14-23kt zinc, with a long-term output of 70kt zinc annually over an 11-year mine life. Additionally, exploration efforts continue to enhance mineral resources, particularly in the Ambrex zone, with promising assay results indicating high-grade mineralization.
Nexa Resources announces that Mr. Rodrigo Menck will step down as Chief Financial Officer (CFO) effective July 6, 2022. Menck has been with Nexa since 2016, contributing significantly to its capital structure and involvement in the company’s IPO. Claudia Torres, with over 20 years of experience, has been appointed as interim CFO. Nexa operates five underground mines and is a leading zinc producer in Latin America. The company is currently searching for a permanent CFO.