Nexa Resources Announces Closing Transaction of Pukaqaqa Project Sale to Olympic
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 (NYSE: NEXA) ha completato la vendita precedentemente annunciata del Pukaqaqa Project a Olympic Precious Metals. La transazione ha comportato il trasferimento del 100% delle azioni di Compañia Minera Cerro Colorado S.A.C., che detiene le proprietà minerarie del Pukaqaqa Project situato nella regione di Huancavelica in Perù. Il completamento è avvenuto dopo il soddisfacimento di tutte le condizioni di chiusura, con Nexa che ha trasferito tutte le azioni, diritti, titoli e interessi relativi al Pukaqaqa a Olympic.
Nexa Resources (NYSE: NEXA) ha completado la venta previamente anunciada del Pukaqaqa Project a Olympic Precious Metals. La transacción involucró el traslado del 100% de las acciones de Compañia Minera Cerro Colorado S.A.C., que posee las propiedades minerales del Pukaqaqa Project ubicado en la región de Huancavelica en Perú. La finalización sigue al cumplimiento de todas las condiciones de cierre, y Nexa ha transferido todas las acciones, derechos, títulos e intereses en Pukaqaqa a Olympic.
넥사 리소스 (NYSE: NEXA)는 올림픽 프레셔스 메탈스에 푸카카카 프로젝트의 판매를 완료했습니다. 이 거래는 페루의 완카베리카 지역에 위치한 푸카카카 프로젝트의 광물 소유권을 보유한 컴파니아 미네라 세로 콜로라도 S.A.C.의 100% 주식 양도를 포함했습니다. 모든 마감 조건이 충족된 후 완료되었으며, 넥사는 푸카카카에 대한 모든 주식, 권리, 제목 및 이익을 올림픽에 이전했습니다.
Nexa Resources (NYSE: NEXA) a achevé la vente précédemment annoncée du Projet Pukaqaqa à Olympic Precious Metals. La transaction a impliqué le transfert de 100 % des actions de Compañia Minera Cerro Colorado S.A.C., qui détient les propriétés minérales du Projet Pukaqaqa situé dans la région de Huancavelica au Pérou. L'achèvement a suivi la satisfaction de toutes les conditions de clôture, Nexa ayant transféré toutes les actions, droits, titres et intérêts relatifs au Pukaqaqa à Olympic.
Nexa Resources (NYSE: NEXA) hat den zuvor angekündigten Verkauf des Pukaqaqa-Projekts an Olympic Precious Metals abgeschlossen. Die Transaktion umfasste die Übertragung von 100% der Anteile an der Compañia Minera Cerro Colorado S.A.C., die die mineralischen Eigenschaften des Pukaqaqa-Projekts in der Region Huancavelica in Peru hält. Der Abschluss erfolgt nach Erfüllung aller Abschlussbedingungen, wobei Nexa alle Anteile, Rechte, Titel und Interessen an Pukaqaqa an Olympic übertragen hat.
- Successfully completed divestment of non-core asset Pukaqaqa Project
- None.
Insights
The sale of Nexa's Pukaqaqa copper project marks a strategic divestment from their Peruvian portfolio. While the announcement doesn't disclose financial terms, this asset sale could strengthen Nexa's balance sheet and allow for capital reallocation to more promising projects. Pukaqaqa, a copper-gold-molybdenum project, had been in Nexa's pipeline for years without significant development progress. The transaction with Olympic Precious Metals suggests a shift in Nexa's strategic focus, potentially towards more advanced-stage assets or core operations. For investors, this streamlining of the project portfolio could lead to improved capital efficiency, though the actual impact will depend on the undisclosed transaction value.
LUXEMBOURG / ACCESSWIRE / November 22, 2024 / Nexa Resources S.A. ("Nexa Resources", "Nexa" or the "Company") (NYSE Symbol:NEXA) announces today that it has completed the previously announced sale (the "Transaction") of
With the completion of the Transaction, and pursuant to the terms of the definitive agreement, Nexa has sold and transferred all shares, rights, titles, and interests in Pukaqaqa to Olympic Precious Metals Ltd ("Olympic"). The Transaction was completed following the fulfillment of all closing conditions.
About Olympic Precious Metals Ltd
Olympic Precious Metals Ltd is a Canadian company dedicated to the development of copper and gold opportunities across the Americas. Olympic is committed to preserving, growing, and realizing long-term shareholder value in a responsible manner, delivering lasting benefits to local communities and stakeholders. The Olympic team brings deep, proven expertise in efficiently exploring, rapidly advancing, and successfully delivering sustainable mining projects. The Company creates value by building and optimizing mines that prioritize local employment, engage local suppliers, and empower local communities. For more information, visit: www.olympicpreciousmetals.com.
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 five long-life mines, three of which are located in the central Andes region of Peru, and two of which are located in Brazil (one in the state of Minas Gerais and one in the state of Mato Grosso). 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 Cajamarquilla, located in Lima, 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.
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FAQ
What did Nexa Resources (NEXA) sell to Olympic Precious Metals in November 2023?
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