Nexa Updates 2024 Guidance: Production and Costs Revised

Nexa Resources S.A. reaffirmed its 2024 zinc and lead production targets while lowering expenditure projections. The announcement highlights adjusted expectations for multiple mining sites. Cerro Lindo, Vazante, and Atacocha will see increased zinc output, compensating for reductions at Aripuanã and the sold Morro Agudo. Lead production remains steady as increased outputs at key sites offset declines. Copper and silver projections remain unchanged.

Notably, revised cost efficiencies contribute to a downward shift in estimated cash costs by 64%, driven by heightened metal prices and reduced treatment charges. Simultaneously, the company's capital expenditure guidance decreased by $11 million to $300 million due to favorable forex movements and strategized capital allocation.