Nexa Resources S.A. will shift its exploration focus in Namibia to surface work and target generation in the Kalahari Copper Belt during the second half of 2025, following a broader portfolio restructuring aimed at prioritising higher-return assets.
The update was confirmed in the company’s 2025 First Half Exploration Results report, which outlines a strategy of divesting from non-core assets while maintaining Namibia as a key exploration region.
“Namibia remains a strategically important region as we expand our copper exploration footprint beyond Latin America,” the company stated.
Nexa has completed the divestment of its Otavi and Namibia North projects as part of this repositioning. “As part of our ongoing portfolio optimization strategy announced on May 15, 2025, Nexa has divested its Otavi and Namibia North projects. The completion of the transaction is expected by December 31, 2025, subject to customary conditions precedent,” the report noted.
The Otavi Project was sold for US$3 million upfront, with a further US$7 million in contingent payments. Nexa has retained royalty rights over the assets.
The company said the move is in line with efforts to enhance capital efficiency. “This strategic decision aligns with our focus on prioritizing return-generating assets, enhancing free cash flow, and maintaining disciplined capital allocation while streamlining our portfolio,” the report added.
During the first half of 2025, Nexa carried out 656.2 metres of drilling at the Leulaghtee target, although no significant intercepts were reported. As a result, the company said it would now focus on more targeted surface exploration within the Kalahari Copper Belt’s prospective zones.
Nexa Resources, which operates five mines and three smelters across Peru and Brazil, ranked among the top five global producers of mined and metallic zinc in 2024, according to Wood Mackenzie. The company also operates Cajamarquilla, the largest zinc smelter in the Americas.
