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.
Nexa Resources (NYSE: NEXA) has announced a new dividend policy effective January 1, 2025. The policy targets an annual dividend distribution of up to 20% of free cash flow pre-events, with a minimum payment of US$0.08 per common share. The dividend amount will be determined based on multiple factors, including cash balance, free cash flow, earnings, leverage ratio, capital investments, future cash flow projections, market volatility, and strategic planning.
The policy applies to distributions related to fiscal year 2024 onwards and defines free cash flow pre-events as cash flow before accounting for significant, non-recurring, or extraordinary events such as debt amortization, new funding, dividend payments, and other extraordinary outflows.
Nexa Resources (NYSE: NEXA) has completed the sale of Minera Pampa de Cobre S.A.C. (MPC), which owns the Chapi copper mine, to Quilla Resources Peru S.A.C. The transaction involved the transfer of all shares, rights, titles, and interests in Chapi to Quilla, following the fulfillment of all closing conditions. This sale completion follows a previously disclosed agreement between the parties.
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.