Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Nexa Resources Atacocha will resume activities at its San Gerardo open-pit mine in mid-June following the Peruvian government’s decision to lift restrictions on medium-sized mines.


Atacocha features two mines, San Gerardo and another underground mine, the latter of which will remain suspended because of its higher costs and the uncertain macroeconomic climate. However, the company is attempting to make it more cost efficient, it said in a statement.


Thoroughput rates at Nexa Resources’ Cerro Lindo and El Porvenir mines in Peru, on the other hand, have risen as intended, with the ramp up phase concluded at the end of the month. The Cajamarquilla smelter has also enhanced its utilization rate and, while not yet at full capacity, is close to achieving it.


The company’s Três Marias smelter in Brazil is running normally, while the Juiz de For a smelter is at about 60pc of capacity, the company’s statement said, adding it will reach full capacity this quarter.


Nexa Resources’ 2020 guidance is unchanged at 338,000-375,000mt of zinc, 40,000-46,000mt of copper.


The company also announced that Gianfranco Castagnola has been elected to its Board of Directors. Castagnola, partner and chief executive officer at Apoyo Consultoría, a Peruvian economic, business and financial advisory firm, is also chairman of Apoyo subsidiary AC Capitales SAF.

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