NEXA Provides Update on Cerro Lindo Mine Operation
Nexa Resources has announced the resumption of operations at its Cerro Lindo mine following the restoration of road access. The plant is currently operating at a production rate of 17ktpd, while underground mine dewatering is on track to be completed within 15 days. The mine produces around 233t of zinc per day, with an expectation to recover production losses from Q1 2023 in the coming quarters. The company's 2023 production guidance remains unchanged. Nexa is a leading integrated zinc producer in Latin America, with over 60 years of experience.
- Cerro Lindo mine operations have resumed after road access restoration.
- Current production rate at the plant is 17ktpd.
- Underground mine dewatering process is on track for completion in 15 days.
- Daily zinc production is approximately 233t.
- Production losses in Q1 2023 are expected to be recovered in upcoming quarters.
- 2023 production guidance remains unchanged.
- Some drainage systems at Cerro Lindo are still under repair.
LUXEMBOURG / ACCESSWIRE / March 28, 2023 / Nexa Resources S.A. ("Nexa Resources" or "Nexa" or the "Company") (NYSE Symbol:NEXA) is pleased to announce that Cerro Lindo has resumed its operations. The road access has been restored. However, some drainage systems are still being repaired.
The plant is currently operating according to our production plan, 17ktpd, while the underground mine dewatering process is progressing as planned and is expected to be completed within 15 days.
Cerro Lindo produces approximately 233t of zinc per day. The 1Q23 production loss is expected to be recovered in the upcoming quarters. The 2023 guidance remains unchanged as of the date of this press release.
About Nexa
Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life mines - three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil - and it is ramping up Aripuanã, its sixth mine in Mato Grosso, Brazil.
Nexa was among the top five producers of mined zinc globally in 2022 and one of the top five metallic zinc producers worldwide in 2022, according to Wood Mackenzie.
Cautionary Statement on Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this news release as "forward-looking statements"). Forward-looking statements contained in this news release may include, but are not limited to, zinc and other metal prices and exchange rate assumptions, projected operating and capital costs, metal or mineral recoveries, head grades, mine life, production rates, and returns; the Company's potential plans; the estimation of the tonnage, grade and content of deposits and the extent of the Mineral Resource and Mineral Reserve estimates; timing of commencement of production; exploration potential and results; the timing and receipt of necessary permits for future operations; the impacts of COVID-19 in our operations.
These statements are based on information currently available to the Company and the Company provides no assurance that actual results and future performance and achievements will meet or not differ from the expectations of management or qualified persons. All statements other than statements of historical fact are forward-looking statements. The words "believe," "will," "may," "may have," "would," "estimate," "continues," "anticipates," "intends," "plans," "expects," "budget," "scheduled," "forecasts" and similar words are intended to identify estimates and forward-looking statements. Forward-looking statements are not guarantees and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them, the activities of our competition, the future global economic situation, weather conditions, market prices and conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the abovementioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements. Our estimates and forward-looking statements may also be influenced by, among others, legal, political, environmental, or other risks that could materially affect the potential development of the Project, including risks related to outbreaks of contagious diseases or health crises impacting overall economic activity regionally or globally.
These forward-looking statements related to future events or future performance and include current estimates, predictions, forecasts, beliefs and statements as to management's expectations with respect to, but not limited to, the business and operations of the Company and mining production, our growth strategy, the impact of applicable laws and regulations, future zinc and other metal prices, smelting sales, capex, expenses related to exploration and project evaluation, estimation of Mineral Reserves and/or Mineral Resources, mine life and our financial liquidity.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable and appropriate by management and qualified persons considering their experience are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, full integration of mining and smelting operations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labor disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in metal prices, exchange rates, or the cost of energy, supplies or transportation, among other assumptions.
Estimates and forward-looking statements refer only to the date when they were made, and we do not undertake any obligation to update or revise any estimate or forward-looking statement due to new information, future events or otherwise, except as required by law. Estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our public disclosures filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov).
For further information, please contact:
Roberta Varella - Head of Investor Relations
ir@nexaresouces.com
+55 11 3405-5601
SOURCE: Nexa Resources S.A.
View source version on accesswire.com:
https://www.accesswire.com/746194/NEXA-Provides-Update-on-Cerro-Lindo-Mine-Operation
FAQ
What recent update did Nexa Resources share regarding Cerro Lindo?
What is the current production rate of the Cerro Lindo plant?
How much zinc does Cerro Lindo produce daily?
Will Nexa Resources recover its Q1 2023 production losses?
Has Nexa updated its production guidance for 2023?
