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Nexa Resources Update on Aripuana Polymetallic Mine Project

Mining News - Published on Mon, 12 Oct 2020

Image Source: Nexa Resources Aripuana Polymetallic Mine
Nexa Resources SA announced an update regarding its 100% owned Aripuanã project. Aripuanã is an underground polymetallic mine and concentrate processing facility located in the state of Mato Grosso in Brazil. Production is scheduled to start at the beginning of 2022. Zinc equivalent production is estimated at 119kt per year for approximately 11 years, based on the current Mineral Reserves estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum 2014 Definition. The total estimated CAPEX has escalated to USD 547 million, compared to the USD 392 million set out in the Aripuana feasibility study published in 2018, based on a detailed review and update of the Project, including the impact of COVID-19.

Nexa Resources CEO Tito Martins said "In addition to external factors, we experienced problems during the project execution. Earthworks activities were more challenging than anticipated and we also faced issues that affected engineering, procurement and contractors. As a result, the Project timeline has been extended and estimated capital costs have increased. We have reorganized the Project team and changed the scope of key contractors to address certain of these issues and mitigate further potential risks. The Project is progressing according to the updated plan and we believe the main challenges lie behind us. We remain confident that Aripuanã will be a low-cost and long-life mine operation. Based on the updated Mineral Resources, mine production has the potential to extend beyond 20 years. Aripuanã is also one of the few zinc projects under development in the world and is consistent with our strategy of further increasing the integration of our mining and smelting operations.”

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Posted By : Yogender Pancholi on Mon, 12 Oct 2020
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