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Nexa Resources ups FY'19 zinc output guidance

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Nexa Resources ups FY'19 zinc output guidance

Luxembourg-headquartered Nexa Resources SA said Jan. 15 that it met its 2018 mining production guidance for all metals, with gold surpassing guidance by 16%, driven by a recovery in the fourth quarter of 2018.

For the fourth quarter of 2018, the company reported a 1.1% year-over-year increase in zinc production to 103,200 tonnes, a 15.6% fall in copper to 9,200 tonnes, a 2.3% decline in lead to 14,700 tonnes, a 3.3% decrease in silver to 2.2 million ounces and a 4.9% fall in gold output to 7,600 ounces.

Over the same period, Nexa noted a 2.2% rise in metallic zinc sales to 148,500 tonnes compared to a year ago, while zinc oxide sales for the quarter increased 1.1% to 9,800 tonnes.

For full year 2018, the company reported a 0.7% yearly decrease in zinc production to 372,800 tonnes, an 11.6% fall in copper to 39,000 tonnes, a 0.6% decline in lead to 52,300 tonnes, a 0.6% rise in silver to 8.0 million ounces and a 10.2% fall in gold output to 29,200 ounces.

The company gave production estimates for 2019, flagging zinc production between 375,000 and 395,000 tonnes, copper between 37,000 and 40,000 tonnes, lead between 52,000 and 57,000 tonnes, silver between 8 million and 8.6 million ounces and gold between 21,000 and 23,000 ounces.

Nexa also predicted smelting sales figures for 2019 at between 573,000 and 591,000 tonnes for zinc metal and between 37,000 and 39,000 tonnes for zinc oxide.