Nexa Resources Announces Board and Management Changes

Rhea-AI Summary

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.

Positive

• Appointment of Flavio Aidar to the Board, bringing extensive experience in relevant sectors
• Aidar's background in financial capital markets and corporate sectors may contribute to growth and shareholder value

Negative

• Departure of João Schmidt from the Board of Directors
• Resignation of Marcio Godoy, Senior VP of Technical Services and Projects

LUXEMBOURG / ACCESSWIRE / October 1, 2024 / Nexa Resources S.A. ("Nexa Resources", "Nexa" or the "Company") (NYSE Symbol:NEXA) announces today changes to its Board of Directors and senior leadership team.

The Company announces the departure of Mr. João Schmidt, who has stepped down from his role as a Board member, effective October 1, 2024.

At the same time, Nexa is pleased to announce the appointment of Mr. Flavio Aidar to the Board of Directors.

Mr. Aidar holds a degree in Business Administration from Fundação Getúlio Vargas and brings over 7 years of experience in the industrial, infrastructure, and mining sectors, along with extensive board experience in various countries and financial markets. He is currently a Managing Director of Votorantim S.A. and previously served as CEO of InterCement, a leading global cement company with a presence in Latin America, Europe, and Africa. His previous board roles include: Director of CCR S.A. (B3: CCRO3), Chairman of Loma Negra (NYSE: LOMA), Chairman of lnterCement Brasil S.A., and Chairman of Brazil's Cement Industry Associations (SNIC and ABCP). Before holding these positions, Mr. Aidar was a Managing Director in the Investment Banking Division of Goldman Sachs and a member of its management committee in Brazil.

In addition, Mr. Marcio Godoy, Senior Vice President of Technical Services and Projects at Nexa, decided to step down effective October 15, 2024. His responsibilities will be distributed across other management functions.

"On behalf of the entire board, I want to express our deepest gratitude to João, who was a valued member of the Board of Directors since 2016, providing invaluable insight and guidance to the Company through his work on the board and committees. We warmly welcome Flavio Aidar, whose extensive experience in financial capital markets and corporate sectors will bring a unique and valuable perspective as we continue to explore new avenues for growth and maximize shareholder value. We also extend our thanks to Marcio for his dedication and leadership over the last four years, and we wish him all the best in his future professional endeavors" - said Jaime Ardila, Chairman of the Board of Directors of Nexa Resources.

About Nexa

Nexa is a large-scale, low-cost integrated zinc producer with over 65 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates four long-life mines, three of which are located in the central Andes region of Peru, and one of which is located in the state of Minas Gerais in Brazil. Nexa is ramping up Aripuanã, its fifth mine, in the state of Mato Grosso in Brazil. Nexa also currently owns and operates three smelters, two of which are located in the state of Minas Gerais in Brazil, and one of which is located in Cajamarquilla in Peru, which is the largest smelter in the Americas.

Nexa was among the top five producers of mined zinc globally in 2023 and one of the top five metallic zinc producers worldwide in 2023, 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 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; and the impacts of COVID-19 on 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, as well as risks relating to ongoing or future investigations by local authorities with respect to our business and operations and the conduct of our customers, including the impact to our financial statements regarding the resolution of any such matters.

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.sedarplus.ca) and on EDGAR (www.sec.gov).

For further information, please contact:
Investor Relations Team
ir@nexaresouces.com

SOURCE: Nexa Resources S.A.

View the original press release on accesswire.com

FAQ

Who is joining Nexa Resources' Board of Directors?

Flavio Aidar is joining Nexa Resources' Board of Directors, effective October 1, 2024.

What experience does Flavio Aidar bring to Nexa Resources?

Flavio Aidar brings over 7 years of experience in industrial, infrastructure, and mining sectors, along with extensive board experience in various countries and financial markets.

Who is leaving Nexa Resources' Board and management team?

João Schmidt is stepping down from the Board, and Marcio Godoy, Senior VP of Technical Services and Projects, is leaving the management team.

When will the management changes at Nexa Resources (NEXA) take effect?

João Schmidt's departure is effective October 1, 2024, while Marcio Godoy will step down effective October 15, 2024.