Nexa Resources Announces 2024 Year-End Mineral Reserves and Mineral Resources

Core Viewpoint - Nexa Resources announced its 2024 Year-End Mineral Reserves and Mineral Resources update, highlighting successful mineral exploration efforts that resulted in the replacement and expansion of zinc reserves while maintaining a stable mineral resources base [2][3]. Mineral Reserves - As of December 31, 2024, Proven and Probable Mineral Reserves were estimated at 110.3 million tonnes, containing 4,075kt of zinc, showing a slight increase in contained zinc compared to 4,031kt as of December 31, 2023 [6]. - The increase in contained zinc was primarily driven by infill drilling at El Porvenir, Aripuanã, and Vazante, partially offset by mining depletion [6]. - The net revision of 172kt of contained zinc was mainly due to a new mining method at Vazante (+74kt) and geological model adjustments at Aripuanã (+81kt) [6][7]. - Proven and Probable Mineral Reserves at the Cerro Lindo Mine were estimated at 39.07Mt at 1.38% Zn, reflecting a 0.5% decrease from the previous year due to mining depletion [11]. - The Vazante Mine's Proven and Probable Mineral Reserves increased to 11.77Mt at 8.91% Zn, up 0.4% from the previous year, attributed to infill drilling and the new mining method [11]. - El Porvenir Mine's Proven and Probable Mineral Reserves increased to 15.23Mt at 4.15% Zn, reflecting a 0.4% increase due to infill drilling [11]. - Aripuanã Mine's Proven and Probable Mineral Reserves increased to 32.68Mt at 4.53% Zn, reflecting a 0.5% increase driven by infill drilling and geological model updates [11][12]. Mineral Resources - As of December 31, 2024, Measured and Indicated Mineral Resources were estimated at 3,163kt of contained zinc, a decrease from 3,259kt as of December 31, 2023, primarily due to the conversion of Mineral Resources into Mineral Reserves [10]. - Inferred Mineral Resources increased to 7,072kt of contained zinc compared to 6,897kt at the end of 2023, with an addition of 356kt due to geological model revisions and brownfield drilling [20]. - The reduction of 96kt in Measured and Indicated Mineral Resources was mainly due to the conversion of Mineral Resources into Mineral Reserves through infill drilling [10][20]. Company Overview - Nexa Resources is a leading polymetallic producer and the fifth largest zinc producer globally, with a portfolio of operating mines and strong exploration potential [3][14]. - The company operates four long-life underground polymetallic mines and one low-cost open pit mine in Peru, along with three smelters in Brazil and Peru [14]. - Nexa was recognized among the top five producers of mined zinc globally in 2024 according to Wood Mackenzie [15].