Nexa Resources S.A. Announces Closing of Otavi Project Sale to Midnab Resources

Nexa Resources S.A. has announced the completion of the sale of ten Exclusive Prospecting Licenses (EPLs) that were part of the Otavi and Namibia North projects. The sale was conducted by its subsidiary, Votorantim Metals Namibia (Pty) Ltd., to Midnab Resources (Pty) Ltd., a subsidiary of Midas Minerals Ltd. This transaction, which involved the transfer of all EPLs and related rights, was finalized after all closing conditions were met. JOGMEC, a participant in the original joint venture, retains rights to 49% of the sale proceeds. This divestment is part of Nexa’s strategy to optimize its portfolio by prioritizing return-generating assets and enhancing free cash flow. Despite the sale, Namibia remains a strategic region for Nexa’s copper exploration efforts outside of Latin America. Nexa Resources is a significant producer of zinc and operates mining and smelting facilities in Latin America, with a history of over 65 years in the industry. Midas Minerals Limited, the parent company of Midnab Resources, is an Australian Securities Exchange-listed mineral exploration company with a focus on base and precious metals.