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Nexa posts net income of $95.3 million for 2022, sees 'strong' fundamentals for zinc and copper

Kitco Media
By Vladimir Basov
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(Kitco News) - South America-focused zinc producer Nexa Resources (NYSE: NEXA) announced Wednesday that in 2022, its net revenues were US$892 million, up 8% over 2021 due to higher LME zinc prices and higher sales volume of copper, lead, and silver.

The company's adjusted EBITDA for the twelve months ended December 31, 2022, was US$329 million compared with US$331 million in 2021, while net income amounted to US$95.3 million, down 30.1% from 2021 (net income of US$136.4 million).

"Our current available liquidity remains strong at US$244 million," Nexa said.

According to a news release, the company's zinc equivalent production totaled 333.1kt in 2022, which is an increase of 2.1% compared to 326.3kt in 2021.

The company said that the global demand for zinc and copper "is still supported by strong fundamentals and the global net-zero transition."

Nexa is an 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 starting the Aripuanã Project as its sixth underground mine in Mato Grosso, Brazil. Nexa also currently owns and operates three smelters, two located in Brazil and one in Peru.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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