Nexa Resources Completes Sale of Otavi Project Licenses to Midnab Resources

Nexa Resources Finalizes Divestiture of Namibian Assets

Nexa Resources S.A. (NEXA), the Luxembourg-based mining company, announced on Monday, December 22, 2025, the completion of the sale of its Otavi and Namibia North projects to Midnab Resources. This transaction, which was previously disclosed, involves the transfer of ten Exclusive Prospecting Licenses (EPLs) that constituted the projects.

The sale was executed by Nexa’s subsidiary, Votorantim Metals Namibia (Pty) Ltd., marking a significant step in Nexa’s strategy to optimize its asset portfolio. The closing of the deal, referred to as the “Transaction,” was confirmed in a press release distributed via Newsfile Corp. and featured on Yahoo Finance.

Strategic Rationale and Project Scope

The Otavi and Namibia North projects comprised ten EPLs located in Namibia. While the specific financial terms of the sale to Midnab Resources were not detailed in the announcement, the divestiture aligns with a broader trend among major mining companies to shed non-core exploration assets to concentrate capital expenditure on high-return, producing mines.

For Nexa Resources, which is primarily focused on zinc mining and smelting operations in Latin America, the sale allows for a sharper focus on its core business and strategic initiatives. The company’s primary listing is on the New York Stock Exchange (NYSE: NEXA).

Market Implications and Forward View

The completion of the sale, which was finalized just before the end of 2025, provides clarity regarding the future ownership of these Namibian exploration assets. Although the Otavi project was not a producing asset for Nexa, its sale is a material event for the company’s balance sheet and operational focus.

Investors and industry analysts will be monitoring Nexa’s subsequent financial disclosures for details regarding the proceeds of the sale and how the capital will be redeployed. The successful closing demonstrates Nexa’s commitment to executing its portfolio management strategy.

“Nexa Resources S.A. (NYSE: NEXA) 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 transfer of the EPLs to Midnab Resources signals the latter’s commitment to advancing exploration activities in the region. For Nexa, the focus remains on maximizing value from its operating mines, including the flagship Aripuanã project and its established operations in Peru and Brazil.

Key Transaction Details

• Seller: Nexa Resources S.A. (NEXA) via its subsidiary, Votorantim Metals Namibia (Pty) Ltd.
• Buyer: Midnab Resources.
• Assets Sold: Ten Exclusive Prospecting Licenses (EPLs) forming the Otavi and Namibia North projects.
• Closing Date: December 22, 2025.
• Location: Namibia.