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Major zinc miner Nexa suspends production at its Cerro Lindo mine in Peru due to Cyclone Yaku

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(Kitco News) - Major zinc producer Nexa Resources (NYSE: NEXA) informed yesterday that production at the Cerro Lindo mine in Peru is suspended due to unusual heavy rainfall levels and overflowing rivers caused by Cyclone Yaku, which has been affecting the region, as well as other parts of the country.

In a press release, Nexa said that its underground mine received more water than it could pump to the surface, partially flooding some lower levels of the mine, adding that road access was also compromised.

"The company is closely monitoring and evaluating the situation as it develops and is taking all necessary precautions to ensure the safety of its employees, contractors and host communities," Nexa said. "On a daily basis, Cerro Lindo produces approximately 233t of zinc. Production has not yet been impacted month to date."

Importantly, the company noted it expects to be able to resume production within the next ten to twelve days, subject to the dewatering process in the underground mine and the impact of rainfall on other areas of the operation.

"The potential impact on the 2023 guidance and its results are under review. The company reiterates its commitment to the health and safety of its employees and will keep the market informed of further developments," Nexa added.

Nexa is a large-scale integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five long-life underground mines - three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil - and is ramping up the Aripuanã mine as its sixth underground mine in Mato Grosso, Brazil.

Nexa was among the top five producers of mined zinc globally in 2022 and one of the top five metallic zinc producers worldwide in 2022, according to Wood Mackenzie.

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By

Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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