Nexa Resources Announces Closing of Otavi Project Sale to Midnab Resources

Core Viewpoint - Nexa Resources S.A. has completed the sale of ten Exclusive Prospecting Licenses (EPLs) related to the Otavi and Namibia North projects to Midnab Resources, marking a strategic move in its portfolio optimization efforts [1][2][3] Group 1: Transaction Details - The sale includes all EPLs and associated rights, titles, and interests in the Project, completed after fulfilling all closing conditions [2] - JOGMEC retains rights to 49% of the proceeds from the sale, indicating a continued interest in the project [1] Group 2: Strategic Implications - This divestment is part of Nexa's ongoing strategy to optimize its portfolio by focusing on return-generating assets and enhancing free cash flow [3] - Namibia remains a strategic region for Nexa as it advances its copper exploration initiatives beyond Latin America [3] Group 3: Company Overview - Nexa is a large-scale, low-cost, integrated polymetallic producer, primarily focused on zinc, with over 65 years of experience in mining and smelting in Latin America [5] - The company operates five polymetallic mines and three smelters, with a significant presence in the Americas [5] - In 2024, Nexa was among the top five producers of mined zinc globally, highlighting its competitive position in the market [6]