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.
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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.
Nexa Resources reported robust 1Q22 results, achieving net revenues of US$722 million, up from US$603 million in 1Q21, driven by higher metal prices. Adjusted EBITDA reached US$208 million, a record for a first quarter. Net income rose to US$94 million from US$32 million. Despite strong operational performance, zinc production declined due to temporary capacity reductions, and a fatal accident involving contractors raised safety concerns. The company remains committed to its Aripuanã project, expecting commercial production in 3Q22.
Nexa Resources announced its first quarter 2022 drilling and assay results, achieving 27,721 meters of drilling across multiple sites. The exploration program, which aims for a total of 123,300 meters in 2022, faced initial challenges due to the rainy season. Key highlights include significant mineral intersections at Cerro Lindo and El Porvenir, with results showing high-grade mineralization. Ongoing efforts at Aripuanã and Morro Agudo aim to upgrade Mineral Resources classification. The company anticipates further production ramp-up starting in the second quarter.
Nexa Resources has announced that its Vazante operations have resumed full capacity after overcoming earlier disruptions caused by heavy rainfall. Production had dipped to 60% but showed gradual recovery, averaging 70% in March. Current throughput stands at 4.6 ktpd, with zinc production guidance for 2022 maintained at 118-127kt. Nexa is a major integrated zinc producer, operating five underground mines and three smelters across Latin America. The company aims to sustain its position as a top global zinc producer.