Nexa Resources (NEXA) has released an update.
Nexa Resources has announced the suspension of mining operations at its Morro Agudo Complex in Brazil starting May 1, 2024, as part of an optimization process to enhance free cash flow and shareholder value, while limestone production continues at full capacity. The Morro Agudo mine, contributing to 5% and 6% of Nexa’s zinc and lead output respectively, has ceased its zinc and lead mining due to a lack of estimated Mineral Reserves. Despite the suspension, Nexa’s 2024 consolidated guidance remains unaffected, signaling stable expectations for the company’s financial performance.
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