Nexa Resources Reports 4.4% Increase in Mineral Reserves, Extends Mine Life
Summary
Nexa Resources reported a 4.4% increase in 2025 year-end mineral reserves and a 92.4% zinc reserve replacement ratio, extending mine life at several operations and budgeting $68 million for 2026 exploration.
Key Events
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Consolidated Mineral Reserves Increased
Proven and Probable Mineral Reserves grew by 4.4% to 115.1 million tonnes as of December 31, 2025.
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High Zinc Reserve Replacement Ratio
The company achieved a 92.4% zinc reserve replacement ratio in 2025, with 282 thousand tonnes of contained zinc added, largely offsetting annual depletion.
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Mine Life Extended at Key Operations
Life-of-mine plans were extended at Aripuanã (to 2041), Vazante (to 2034), Cerro Lindo (to 2032), and El Porvenir (to 2036).
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Significant Inferred Resource Addition
The Integración target at the Cerro Pasco Complex added 116 thousand tonnes of contained zinc in Inferred Mineral Resources, a key milestone for the Integration Project.
Analysis
Nexa Resources announced a strong 2025 year-end update, demonstrating successful near-mine exploration and resource conversion. The 4.4% increase in consolidated mineral reserves and a high 92.4% zinc reserve replacement ratio indicate the company's ability to organically sustain and grow its asset base. Extensions to the life-of-mine at several key operations provide long-term production visibility, while significant additions to inferred resources at the Cerro Pasco Integration Project highlight future growth potential. The substantial 2026 exploration budget reinforces a commitment to further expand mineral assets.
At the time of this filing, NEXA was trading at $9.48 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $4.44 to $14.94. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.