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Nexa Resources
Ignacio Rosado runs Nexa Resources, the Votorantim spinout operating zinc-copper mines and smelters across Brazil and Peru since 2017.
Nexa Resources
Nexa Resources took its current form in 2017 when Votorantim S.A., the Brazilian industrial conglomerate, combined its zinc and copper assets into a Luxembourg-domiciled vehicle and listed it on the NYSE and TSX. The transaction merged Votorantim Metais with Milpo, a Peruvian miner Votorantim had controlled since the early 2000s, creating a multi-jurisdictional base-metals producer. Ignacio Rosado, previously CFO of Votorantim Metais, assumed the CEO role at the new entity. The company operates across the full zinc value chain. On the mining side, five underground polymetallic operations — three in the Central Andes of Peru and two in Brazil's Minas Gerais state — produce zinc, copper, lead, and silver concentrates. Downstream, Nexa smelts and refines those concentrates at three Brazilian metallurgical facilities, making it one of the few integrated zinc producers outside China. The portfolio includes the Cerro Lindo mine in Peru, one of the world's largest zinc operations, and the Cajamarquilla smelter, a major supplier of SHG zinc to the North American galvanizing market. Nexa sells concentrates and metal to steel mills, automotive-parts galvanizers, battery-material processors, and chemical manufacturers across the Americas, Europe, and Asia. The firm is publicly listed, with Votorantim maintaining approximately 64% ownership. As of December 2023, Nexa reported proven and probable mineral reserves of 59 million tonnes. The firm has been directing capital toward mine-life extensions and tailings-dam safety upgrades, closing the Vazante tailings dam in 2022 and moving to dry-stacking in compliance with Brazilian and international dam-safety standards. In 2023, Nexa commissioned the Aripuanã greenfield zinc-copper mine in Mato Grosso, a project that reached commercial production in mid-year and added roughly 70 kt of annual zinc-equivalent capacity. Nexa's structural distinction is its vertical integration within a single commodity group combined with a dual-jurisdiction operational footprint. Few zinc miners also smelt and refine, and fewer still split production between the politically distinct mining jurisdictions of Peru and Brazil. That architecture gives Nexa flexibility to route concentrate to its own smelters or sell to third parties depending on treatment-charge economics, while spreading sovereign risk across two countries.
General information
Firm type
Asset Manager
Year founded
2017
AUM
Undisclosed
Location
Region
Europe
Country
Luxembourg
City
Luxembourg City
Corporate office
Luxembourg City, Luxembourg
Additional offices
São Paulo, Brazil · Lima, Peru
Principals
Ignacio Rosado
CEO
Sector focus
Frequently asked questions
Who controls Nexa Resources?
Votorantim S.A., the Brazilian industrial conglomerate, holds approximately 64% of Nexa's equity. The remaining shares trade publicly on the New York Stock Exchange and the Toronto Stock Exchange. Votorantim consolidated its zinc and copper assets into Nexa at the time of the 2017 IPO, and it remains the controlling shareholder.
Where does Nexa Resources operate?
Nexa operates five underground mines across two countries: three in Peru (Cerro Lindo, El Porvenir, Atacocha) and two in Brazil (Vazante, Morro Agudo). Three smelters — Cajamarquilla, Juiz de Fora, and Três Marias — are located in Brazil. The corporate headquarters is in Luxembourg.
How does Nexa's vertical integration affect its business?
Nexa is one of the few zinc producers globally that both mines and smelts. Its Brazilian smelters process its own concentrates and also buy from third parties, converting raw material into SHG zinc, zinc oxide, and byproduct sulfuric acid. This integration lets Nexa capture margin across the value chain and choose whether to sell concentrate or convert it based on prevailing treatment charges and metal premiums.
What commodities does Nexa produce?
Zinc is the primary metal, representing the majority of revenue. Nexa also produces meaningful volumes of copper, lead, and silver as co-products and byproducts. In 2023, the firm produced approximately 326 kt of zinc, 34 kt of copper, 56 kt of lead, and 10 million ounces of silver.
What is Nexa's posture on environmental and tailings safety?
Nexa has committed to eliminating upstream-raised tailings dams. It closed the Vazante dam in 2022, adopting filtered dry-stacking for tailings disposal at its Brazilian operations. The firm publishes annual sustainability reports aligned to GRI and SASB standards and reports progress against tailings-dam safety targets set by the International Council on Mining and Metals.
Is Nexa Resources a family office or asset manager?
Nexa is a publicly traded base-metals mining and smelting company — not a family office or fund manager. Votorantim, its controlling shareholder, is owned by the Ermirio de Moraes family, but Nexa operates as a standalone industrial enterprise with its own board, management, and public shareholders.
Why is Nexa domiciled in Luxembourg?
The Luxembourg holding structure was established at the 2017 IPO to facilitate access to European capital markets and to reflect the firm's multinational operational footprint. Tax and governance considerations common to global mining companies also influenced the domicile choice, though the firm's operating subsidiaries remain in Brazil and Peru.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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