Nexa Resources Announces Temporary Suspension of Mining Operations at Morro Agudo Complex

Nexa Resources S.A., a prominent mining company, has declared an indefinite suspension of its mining operations at the Morro Agudo Complex in Minas Gerais, Brazil, starting May 1, 2024. Until the suspension takes effect, the company will reduce mining activities but maintain limestone production at full capacity. This decision is aimed at minimizing the impact on both the business and its surrounding community.

In 2023, the Morro Agudo mine produced significant amounts of zinc and lead but currently holds no estimated Mineral Reserves. The closure of the Ambrósia mine at the end of 2020 is aligned with Nexa’s strategy for portfolio optimization to enhance free cash flow and long-term value creation for shareholders. Despite the suspension, the company's 2024 consolidated guidance remains unaffected.

The Morro Agudo Complex's contributions to Nexa's zinc and lead production underscore the company's position as a substantial player in the global zinc market. Nexa Resources continues to evaluate risk-return alternatives for the complex, ensuring alignment with its strategic objectives. The decision reflects the company's disciplined approach to capital allocation and its commitment to operational efficiency.