Nexa Resources Exceeds Copper Production Targets and Meets 2024 Guidance

Nexa Resources S.A. has announced its operational results for the three- and twelve-month periods ending December 31, 2024. The preliminary and unaudited figures reflect a strong year for the company, with final financial results scheduled for release on February 20, 2025.

In 2024, Nexa met its consolidated mining production guidance for zinc, lead, and silver, while copper production exceeded expectations. Zinc output totaled 327kt, with the Cerro Lindo, El Porvenir, Vazante, and Aripuanã mines meeting the lower end of revised guidance, and Atacocha achieving mid-range targets. Copper production reached 36kt, surpassing the upper guidance range, and lead production was 69kt, within the expected range. Silver production totaled 12 million ounces, hitting the mid-point of guidance, with Cerro Lindo’s output exceeding forecasts, reinforcing Nexa’s position as a key silver producer.

Metal sales reached 591kt, aligning with mid-range guidance. This was driven by increased production at the Cajamarquilla and Juiz de Fora smelters, enhanced operational stability, reduced downtime, rising demand, and efficient supply chain logistics.

Nexa successfully met its consolidated run-of-mine mining costs and C1 cash cost guidance, reduced by 65% in October 2024. This was achieved through improved operational efficiencies, cost management, and disciplined execution of production plans. Key factors included reduced energy consumption, optimized personnel expenses, lower third-party service costs, favorable treatment charges, foreign exchange effects, and higher by-product prices.

In smelting operations, conversion costs and C1 cash cost guidance were also met, supported by lower operational costs at Brazilian smelters, higher throughput at Cajamarquilla, and process efficiencies. Favorable freight negotiations and foreign exchange effects further contributed to cost control.

Capital expenditures and other operating expenses came in well below revised guidance, highlighting Nexa’s commitment to financial discipline and operational efficiency. Strategic optimization initiatives throughout 2024 played a key role in controlling expenditures while maintaining operational reliability and advancing long-term projects.