We are a mining and smelting company with an emphasis on zinc and copper, with over 60 years of experience in asset development and integrated production in Brazil and Peru. Our shares have been traded since October 2017 on the New York (USA) and Toronto (Canada) stock exchanges. Our main shareholder is Votorantim S.A., which owns 64.3% of our capital. GRI 102-1, 102-5
We operate five polymetallic mines, three of which are located in the central Andes of Peru (Cerro Lindo, El Porvenir and Atacocha) and two in the state of Minas Gerais, Brazil (Vazante and Morro Agudo). Our operations consist of large-scale underground and modern and mechanized open-pit mines, which produced 556 thousand tonnes of equivalent zinc1 in 2018. Cerro Lindo and Vazante are among the world’s 15 largest zinc mines and, combined with our other mining operations, placed us among the world’s top five zinc producers, according to Wood Mackenzie. GRI 102-2, 102-4, 102-7
We also have three zinc smelters: one in Peru (Cajamarquilla) and two in Brazil (Três Marias and Juiz de Fora), which produce metallic zinc, zinc oxide and by-products. Cajamarquilla is the only zinc smelter operation in Peru and the seventh largest in the world by volume produced, according to Wood Mackenzie’s survey (2018 data). In the year, our our smelters produced 638 thousand tonnes, of which 607 thousand tonnes were metallic zinc and 31 thousand tonnes were zinc oxide. GRI 102-4, 102-7
Our main headquarters are in Luxembourg, with administrative offices in the cities of São Paulo (Brazil) and Lima (Peru). Our commercial offices are located in Brazil, Peru, the United States, Austria and China. GRI 102-3, 102-4
In December 2018, we received the license to install the Aripuanã Mining Project in the state of Mato Grosso, and we plan to build the project starting in the first quarter of 2019, with operations beginning in 2021. Annual production capacity is estimated at 2.3 million tonnes of ore, according to the Technical Report published on our Investor Relations website and also filed with regulators in the United States and Canada. In May, we sold the assets of the Fortaleza de Minas unit, where we produced sulfuric acid, a product that lost relevance in our business portfolio. We also shut down a commercial office in Canada, a market that is now being serviced by the Houston unit (USA). GRI 102-10
Net revenue totaled US$ 2.5 billion in 2018, an increase of 1.7% over the previous year (US$ 2.4 billion) and adjusted EBITDA was US$ 605 million (US$ 668 million in last year). At the end of the year, we had 5,591 own employees2 and 11,345 outsourced employees. GRI 102-7
1 Consolidated mineral production in thousand tonnes of zinc equivalent, calculated by converting volumes of copper, lead, silver and gold to an equivalent volume of zinc at the benchmark average prices for 2018. The prices used for conversion are: zinc: US$ 2,922/t; copper: US$ 6,523/t; lead: US$ 2,242/ton; silver: US$ 16/ounce; gold: US$ 1,268/ounce.
2 This value disregards trainees and young apprentices.
The integration between mines and smelters represents a distinguishing characteristic in our operations. In Brazil, the zinc concentrates produced in the Vazante and Morro Agudo mines are transformed into metallic products at the Três Marias unit. The Juiz de Fora plant, in addition to concentrates, also uses recyclable materials (such as steel scrap metal and powder) for the production of zinc. In Peru, most of the zinc concentrates produced at the Cerro Lindo, El Porvenir and Atacocha mines are processed by the Cajamarquilla unit.
Our level of integration is around 60% and we always strive to reduce the supply of zinc concentrate received from third parties. For example, the start-up of Aripuanã in 2021 will contribute to greater integration because the expected average annual production of concentrate from this project is equivalent to 28% of the volume purchased from suppliers.
PROPÓSITO GRI 102-16
Levamos a essência da nossa mineração para a vida das pessoas.
A essência da nossa mineração está nos produtos e serviços que vão sustentar a base do que precisamos para nos desenvolver. Ela está nas pessoas, na maneira como trabalhamos, no que ajudamos a construir e no legado que queremos deixar. A essência da nossa mineração impulsiona o desenvolvimento para transformar, prosperar e, juntos, evoluirmos.
Os valores permeiam todas as ações, decisões e relacionamentos da Votorantim com seus públicos, representam nosso jeito de ser e de agir. Formam a sigla SEREU.
Solidez: Buscar crescimento sustentável com geração de valor
Ética: Atuar de forma responsável e transparente
Respeito: Respeito às pessoas e disposição para aprender
Empreendedorismo: Crescer com coragem para fazer, inovar e investir
União: O todo é mais forte
Nossas crenças e nossos valores estão detalhados na internet (www.nexaresources.com/beliefs-and-values).