Brazilian Mining Company Nexa Plans $310 Million Investment in 2023

Written by Bruno Teles

Published on 18/02/2023 at 13:09

Nexa (Foto/divulgação)

Be the first to react!

Nexa Resources, Company from Brazilian Mining and Metals, Announced an Investment Plan Worth US$ 310 Million for 2023. This Reduction Was Announced by CEO Ignacio Rosado, Who Commented: “We Know That 2023 Is Likely to Be Another Challenging Year, in Which the Risk of a Global Recession Remains High.”

The capex totaled US$ 381 million last year and US$ 508 million in 2021, while the company has invested heavily in recent years in its Aripuanã project, a subterranean mine of polymetals under construction in the state of Mato Grosso. The ramp-up of the mine continues to progress and has already generated its first revenue in the fourth quarter.

CEO Ignacio Rosado added that the company expects to continue advancing its exploration activities in the coming years, focusing mainly on identifying new ore bodies and updating the resource classification through filling drilling campaigns.

The sustainable investment for 2023 will total US$ 268 million, of which US$ 66 million will be earmarked for smelting and US$ 200 million for mining – including US$ 53 million for Aripuanã. Nexa also announced it will invest US$ 55 million in exploration this year.

ARTICLE CONTINUES BELOW

Nexa Resources Reports Loss of US$ 81.4 Million in 4th Quarter of 2022

Nexa Resources, formerly known as Votorantim Metais, listed on the New York Stock Exchange (NYSE), posted a net loss of US$ 81.4 million in the fourth quarter of 2022. This represented a significant decline compared to the net profit of US$ 11.4 million reported for the same period the previous year.

The company’s net revenue increased significantly year-on-year, reaching US$ 779.8 million. This growth was driven by metal sales in general, partially offset by lower metal prices.

Compared to the third quarter of 2022, net revenue also increased by 11%, mainly due to higher metal sales and copper concentrate volumes. However, this advancement was partially offset by lower zinc prices.

For the entire year of 2022, the net revenue of Nexa totaled US$ 3.03 billion – a growth of 16% compared to 2021. This was the result of higher zinc prices throughout the year.

Although revenue grew considerably, the financial result was negative at US$ 17.9 million in the last quarter of the previous year; a better performance than the negative US$ 38.4 million recorded in the fourth quarter of the previous year. Furthermore, the company’s adjusted EBITDA fell to US$ 120.2 million – 21% lower than in the same period of 2021 – and its EBITDA margin decreased to 15.4%.

In summary: although sales are healthy and metal prices are improving, Nexa Resources experienced a significant decline in financial results and adjusted EBITDA in the fourth quarter of 2022.

Brazilian Mining Company Nexa Plans $310 Million Investment in 2023

Nexa Resources Reports Loss of US$ 81.4 Million in 4th Quarter of 2022

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

While a traditional school may take several days just to raise walls, in Malawi a 3D-printed school had its structure ready in 18 hours, welcomed children in June, and showed a new solution to the lack of classrooms.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

Empty beer bottle turns into sand, and the sand turns into concrete: an American city has discovered how to recycle glass locally using a solar-powered truck that crushes five tons of bottles per day in a local circular economy project.

Soot from rocket launches remains in the atmosphere for years and has a climate impact 540 times greater than pollution emitted near the Earth’s surface. Mega constellations like Starlink will account for 42% of the space sector’s climate impact by 2029.

Brazil and the USA create a working group to negotiate tariffs and end Section 301 after a meeting between Lula and Trump at the White House, and representatives from both countries have already met via videoconference with a 30-day deadline.

NASA plans a network of fuel stations in space that could reduce the cost of missions to the Moon and Mars. A satellite will be launched by a Rocket Lab rocket and will test technology that allows spacecraft to be refueled in orbit instead of carrying all the fuel from Earth.

Russia and China advance on a gas pipeline of more than 2,500 kilometers that will carry gas from Siberia to northern China; Putin’s visit to Beijing is also expected to result in an agreement to facilitate payments in ruble and yuan between the two countries.

Honda launches Elevate cheaper than Honda HR-V, Toyota Corolla Cross, Hyundai Creta, Jeep Compass, and Volkswagen Taos in Brazil, with a 1.5 i-VTEC engine of 121 hp, manual or CVT transmission, and Honda Sensing; SUV shows a simpler, more rational, and accessible global Honda in India.

Brazilian Mining Company Nexa Plans $310 Million Investment in 2023

Nexa Resources Reports Loss of US$ 81.4 Million in 4th Quarter of 2022

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

While a traditional school may take several days just to raise walls, in Malawi a 3D-printed school had its structure ready in 18 hours, welcomed children in June, and showed a new solution to the lack of classrooms.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

Empty beer bottle turns into sand, and the sand turns into concrete: an American city has discovered how to recycle glass locally using a solar-powered truck that crushes five tons of bottles per day in a local circular economy project.

YPF: Horacio Marín reveals that starting in 2028 the Argentine state will collect dividends from Vaca Muerta with US$ 25 billion, marking a new era of oil in the country

While concrete and steel dominate the image of resilient buildings, a 10-story wooden building was shaken in a laboratory to test if it can withstand earthquakes and reduce permanent damage.

Small industry sinks to the worst result since the pandemic, as high interest rates, taxes, and expensive inputs crush businesses in Brazil.

The interior of Bahia surges in industry and GDP, reducing the weight of Salvador and transforming the West, Feira de Santana, and Vitória da Conquista into the new economic engines of the state.

While many roads bypass deep valleys, South Africa raises the Msikaba Bridge with 580 meters, a deck at 194 meters high, and a cable-stayed structure that promises to change the N2 Wild Coast route.

Soot from rocket launches remains in the atmosphere for years and has a climate impact 540 times greater than pollution emitted near the Earth’s surface. Mega constellations like Starlink will account for 42% of the space sector’s climate impact by 2029.

Brazil and the USA create a working group to negotiate tariffs and end Section 301 after a meeting between Lula and Trump at the White House, and representatives from both countries have already met via videoconference with a 30-day deadline.

NASA plans a network of fuel stations in space that could reduce the cost of missions to the Moon and Mars. A satellite will be launched by a Rocket Lab rocket and will test technology that allows spacecraft to be refueled in orbit instead of carrying all the fuel from Earth.

Russia and China advance on a gas pipeline of more than 2,500 kilometers that will carry gas from Siberia to northern China; Putin’s visit to Beijing is also expected to result in an agreement to facilitate payments in ruble and yuan between the two countries.

Honda launches Elevate cheaper than Honda HR-V, Toyota Corolla Cross, Hyundai Creta, Jeep Compass, and Volkswagen Taos in Brazil, with a 1.5 i-VTEC engine of 121 hp, manual or CVT transmission, and Honda Sensing; SUV shows a simpler, more rational, and accessible global Honda in India.