Business
Nexa Resources Announces Closing of Otavi Project Sale to Midnab Resources
Luxembourg, Luxembourg--(Newsfile Corp. - December 22, 2025) - Nexa Resources S.A. (NYSE: NEXA) ("Nexa Resources", "Nexa" or the "Company") announces today the completion of the previously disclosed sale (the "Transaction") of ten Exclusive Prospecting Licenses ("EPLs") forming part of the Otavi and Namibia North projects (the "Project") by its subsidiary, Votorantim Metals Namibia (Pty) Ltd., to Midnab Resources (Pty) Ltd. ("Midnab"), a subsidiary of Midas Minerals Ltd. (ASX: MM1). The Project.
About this update from Midas Minerals Limited
[{"type":"text","content":"Luxembourg, Luxembourg--(Newsfile Corp. - December 22, 2025) - Nexa Resources S.A. (NYSE: NEXA) ("Nexa Resources", "Nexa" or the "Company") announces today the completion of the previously disclosed sale (the "Transaction") of ten Exclusive Prospecting Licenses ("EPLs") forming part of the Otavi and Namibia North projects (the "Project") by its subsidiary, Votorantim Metals Namibia (Pty) Ltd., to Midnab Resources (Pty) Ltd. ("Midnab"), a subsidiary of Midas Minerals Ltd. (ASX: MM1). The Project was previously part of a joint venture between Nexa Recursos Minerais S.A. ("Nexa Brazil") and the Japan Organization for Metals and Energy Security ("JOGMEC"), a Japanese state-owned enterprise. JOGMEC retains rights to 49% of the proceeds from this sale.","length":851,"tagName":"p"},{"type":"text","content":"Under the terms of the definitive agreement, all EPLs have been sold and transferred, as well as related rights, titles, and interests in the Project to Midnab. The Transaction was completed following the fulfillment of all closing conditions.","length":243,"tagName":"p"},{"type":"text","content":"As previously disclosed, Nexa continues to evaluate risk-return alternatives across its portfolio. This divestment marked another step in the Company's ongoing portfolio optimization strategy, which focuses on prioritizing return-generating assets, enhancing free cash flow, and supporting a disciplined capital allocation framework. Namibia remains a strategic region for Nexa as the Company advances its copper exploration initiatives beyond Latin America.","length":462,"tagName":"p"},{"type":"text","content":"About Midnab Resources (Pty) Ltd.","length":33,"tagName":"p"},{"type":"text","content":"Midnab Resources (Pty) Ltd is a wholly owned subsidiary of Midas Minerals Limited, a mineral exploration company listed on the Australian Securities Exchange with a primary focus on precious and base metals. Midas' Board and management have a strong track record of delivering value for stakeholders through world-class mineral discoveries and mine development in Africa and Australia.","length":389,"tagName":"p"},{"type":"text","content":"About Nexa","length":10,"tagName":"p"},{"type":"text","content":"Nexa is a large-scale, low-cost, integrated poly...