Boliden to Acquire Votorantim’s Stake in Nexa Resources
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Boliden and Votorantim have entered into a definitive agreement where Boliden will acquire all of Votorantim’s shares in Nexa Resources.
“In addition to positioning Boliden as one of the leading zinc providers in the world, the transaction will reinforce our standing as a globally important base metal producer and bring a healthy addition to our precious metal business with a large increase to our output of silver in concentrate. Boliden’s and Nexa’s combined project portfolio will be highly attractive and present a solid foundation for future growth,” said Mikael Staffas, president and CEO, Boliden.
“I am very confident that entering two highly attractive mining and smelting jurisdictions in Latin America together with an experienced partner, who will also become a significant Boliden owner, will bring benefits to internal and external stakeholders both short-term and long-term,” added Staffas.
Boliden will become the majority shareholder in Nexa, a zinc and silver producer with operations in Brazil and Peru, expanding Boliden’s position as one of the global leaders in zinc mining and smelting, and reinforcing Boliden’s standing within both base and precious metals. The transaction enhances Boliden’s growth profile and expands its presence into two highly prolific mining jurisdictions in Latin America.
Closing is subject to certain conditions, including approvals by Boliden’s shareholders at an EGM, and receipt of regulatory approvals, and is currently expected to take place during the first quarter of 2027.
Following closing, Boliden will operate a portfolio of 12 mining units and eight smelter units across Europe and Latin America. The transaction is expected to lead to a significant increase in Boliden’s production of finished metals as well as metals in concentrate.
Boliden operates mines and smelters in Sweden, Norway, Finland, and Ireland. The company processes zinc, copper, gold, silver and other metals and is engaged in exploration, mining, smelting, and metals recycling. The company has two operating segments: the business area smelters and the business area mines. The business area mines division comprises mining areas: Aitik, the Boliden area, and Garpenberg in Sweden; Kevitsa in Finland; and the Tara mine in Ireland. It includes both underground mines and open-pit mines.
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