Welcome to our dedicated page for Nexa Resources S.A. Common Shares news (Ticker: NEXA), a resource for investors and traders seeking the latest updates and insights on Nexa Resources S.A. Common Shares stock.
Nexa Resources S.A. (NYSE: NEXA) is a prominent player in the global non-ferrous metals market, primarily focusing on zinc production while also generating copper, silver, and gold as byproducts. With over 65 years of expertise in the industry, Nexa operates as a low-cost, integrated producer, maximizing efficiency through its vertically integrated operations.
Nexa's business is divided into two main segments: Mining and Smelting. The Mining segment involves mineral exploration and the production of zinc and copper concentrates. This segment is currently driven by five long-life mines located in the central Andes region of Peru and the state of Minas Gerais in Brazil. Their sixth mine, Aripuanã, is being ramped up in the state of Mato Grosso, Brazil.
The Smelting segment includes the refining and recovery of zinc metal from concentrates and other secondary materials. Nexa operates three smelters: two in the state of Minas Gerais, Brazil, and one in Cajamarquilla, Peru, which boasts the title of the largest smelter in the Americas. This segment generates the majority of the company's revenue.
Nexa Resources continues to make strides in sustainability and innovation. In March 2024, they announced the suspension of operations at the Morro Agudo Complex in Brazil, aligning with their strategy to optimize their portfolio and improve cash flow. This decision underscores their commitment to disciplined capital allocation and long-term value maximization for shareholders.
The company is also focused on enhancing its operational efficiency and safety standards. Despite challenging market conditions and the recent fatalities at the El Porvenir and Vazante mines, Nexa remains committed to achieving zero fatalities and improving safety protocols. Their focus on high performance is propelled by inspirational leadership and significant investment in the development of their talented workforce.
Geographically, Nexa has a diverse presence, operating in countries such as Brazil, Peru, the United States, Switzerland, Japan, Argentina, South Korea, Colombia, Vietnam, and Malaysia, among others. This extensive reach allows them to effectively navigate the complexities of the global metals market.
Nexa's forward-looking strategies include robust mineral exploration programs aimed at identifying new mineralized zones in their existing mines and expansion projects. They plan to conduct over 66,000 meters of drilling in 2024, focusing on both brownfield and greenfield targets, to ensure sustained growth and resource replenishment.
In terms of financial performance, Nexa reported solid operating results for the first quarter of 2024, despite lower global zinc prices and other macroeconomic challenges. Their disciplined approach to capital expenditure and portfolio optimization ensures they continue to deliver value to stakeholders, reinforcing their position as a leading and sustainable investment option in the mining industry.
Nexa Resources (NYSE: NEXA) has increased its equity stake in Tinka Resources through a non-brokered private placement. Nexa acquired 9,859,155 units at C$0.10 per unit, totaling C$985,915.50 (US$700,000). Each unit includes one common share and half a warrant, with each whole warrant allowing purchase of one additional share at C$0.15 within 18 months.
Following this transaction, Nexa's ownership in Tinka increased from 18.23% to 19.86% (81,202,208 shares), plus 4,929,577 warrants representing 56.68% of outstanding warrants. Nexa's warrant exercise is restricted to maintain ownership below 19.99% unless approved by TSXV and Tinka's shareholders.
Nexa Resources (NYSE: NEXA) has completed the previously announced sale of the Pukaqaqa Project to Olympic Precious Metals The transaction involved the transfer of 100% of shares in Compañia Minera Cerro Colorado S.A.C., which holds the mineral properties of the Pukaqaqa Project located in Peru's Huancavelica region. The completion follows the fulfillment of all closing conditions, with Nexa transferring all shares, rights, titles, and interests in Pukaqaqa to Olympic.
Nexa Resources reported solid Q3 2024 results with net income of US$6 million, compared to a net loss of US$64 million in Q3 2023. Adjusted EBITDA doubled to US$183 million from US$87 million year-over-year, driven by higher zinc prices and improved by-products contribution. Net revenues increased 9% to US$709 million. Free cash flow reached US$51 million despite negative working capital variation. Zinc production was 83,000 tons, down 5% year-over-year, while copper production remained flat at 9,000 tons. The company reaffirmed its 2024 production guidance and revised mining cash cost guidance downward.
Nexa Resources (NYSE: NEXA) has reaffirmed its 2024 guidance for total zinc and lead production in its mining segment. The company has also announced updates to production guidance for specific mines while lowering its mining cash cost and capital expenditures guidance for 2024. This update suggests potential operational cost improvements while maintaining production targets.
Nexa Resources has released its exploration drilling and assay results for the third quarter of 2024. The press release appears to be incomplete as it only contains the announcement of the results without providing specific details about the drilling outcomes, locations, or any quantitative data from the exploration activities.
Nexa Resources (NYSE: NEXA) has announced changes to its Board of Directors and senior leadership team. João Schmidt has stepped down from the Board, effective October 1, 2024. Flavio Aidar has been appointed to the Board, bringing over 7 years of experience in industrial, infrastructure, and mining sectors. Aidar is currently a Managing Director of Votorantim S.A. and has held various leadership positions, including CEO of InterCement and board roles in multiple companies.
Additionally, Marcio Godoy, Senior Vice President of Technical Services and Projects, will step down effective October 15, 2024. His responsibilities will be distributed across other management functions. The Chairman of the Board, Jaime Ardila, expressed gratitude to the departing members and welcomed Aidar, highlighting his potential contribution to exploring new growth avenues and maximizing shareholder value.
Nexa Resources reported strong financial results for 2Q24, with Adjusted EBITDA reaching US$ 200 million, up 64% quarter-over-quarter and 180% year-over-year. Net revenues increased to US$ 736 million, driven by higher LME metal prices and increased sales volumes. The company achieved free cash flow of US$ 149 million, partly due to the issuance of an ESG-Linked debenture. Operationally, zinc production totaled 83,000 tons, up 2% year-over-year, while copper production reached 10,000 tons, up 13% from 2Q23. Nexa continues to focus on operational efficiency, portfolio optimization, and ESG initiatives, including safety improvements and community support programs.
Nexa Resources has released its exploration results for the second quarter of 2024. The company, which focuses on zinc mining and production, has been conducting drilling activities across its various projects. While specific details are not provided in this summary, the release of exploration results is typically a significant event for mining companies as it can indicate the potential for future resource expansion and production growth.
Investors and analysts often closely scrutinize these results to assess the company's prospects for mineral reserves and future production capacity. The exploration activities are important for Nexa's long-term strategy in maintaining and potentially increasing its position in the zinc market. The full report likely contains detailed information on drill hole locations, mineral grades, and potential resource estimates, which are essential for evaluating the company's exploration success and future mining potential.
Nexa Resources has announced the completion of the sale of its Morro Agudo Complex in Minas Gerais, Brazil, to Casa Verde Holding. This transaction was initially announced on April 5, 2024. With this completion, Nexa has transferred all rights, titles, and interests in the Morro Agudo Complex to Casa Verde. The closing conditions for the transaction have been fulfilled, marking the finalization of this significant divestment for Nexa.
Nexa Resources S.A. (NYSE:NEXA) held its Annual General Meeting (AGM) on June 13, 2024, with 77.65% of outstanding shares voted. All proposed resolutions were approved, including the election of board members Jaime Ardila, Gianfranco Castagnola, Daniella Elena Dimitrov, Luis Ermírio de Moraes, Hilmar Rode, Edward Ruiz, Jane Sadowsky, João Henrique Batista de Souza Schmidt, and new member Paulo Macedo. PricewaterhouseCoopers LLP was appointed as the statutory auditor with 91.45% approval. The 2023 annual accounts and consolidated financial statements were also approved. Two board members, Diego Hernandez and Eduardo Borges de Andrade Filho, ended their terms.
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