Nexa Resources Reports Increased Year-End Mineral Reserves and Resources for 2023

Nexa Resources S.A., a leading polymetallic mine operator and the 5th largest zinc producer worldwide, has announced its 2023 Year-End Mineral Reserves and Mineral Resources updates for its operations in Peru and Brazil. The company noted a significant increase in Mineral Reserves and Resources, attributing it to successful exploration and drilling activities, especially at the Aripuanã mine.

The report highlighted an increase in Proven and Probable Mineral Reserves to 110.4 million tonnes containing 4,031kt of zinc as of December 31, 2023. This marks a notable rise from the previous year, driven largely by the infill and brownfield drilling at Aripuanã. The re-inclusion of the Atacocha Mineral Reserves from both underground and open pit mines also contributed after being absent in 2022.

Despite overall growth, the report cited a net revision of -34kt of zinc, primarily due to an increase in the cut-off at Aripuanã. However, stope layout and cut-off revisions at Cerro Lindo and El Porvenir balanced this decline. Mineral Reserve estimates across several mines, including the Cerro Lindo, Vazante, El Porvenir, Atacocha, and Aripuanã, reflected changes in zinc content due to varying factors such as mining production depletion and geological revisions.

Looking ahead, Nexa Resources plans to focus its 2024 exploration strategy on Mineral Resource expansion through brownfield and infill drilling near operating mines and extension drilling on advanced projects. The company has outlined a comprehensive drilling program, totaling 66,050 meters across its operational regions, to support this goal.

This announcement underscores Nexa Resources' ongoing commitment to enhancing its exploration capabilities and securing the long-term viability of its mining operations. The company emphasizes the strategic importance of continuous exploration and development activities in maintaining and expanding its mineral reserves and resources portfolio.