Boliden to Buy Majority Stake in Nexa Resources, Expands to Americas
Boliden AB agreed to acquire a majority stake in Nexa Resources, CEO Mikael Staffas said on Tuesday, marking the Swedish miner's first expansion outside Europe.
Boliden AB agreed to acquire a majority stake in Nexa Resources, a base metals producer with mines and smelters in Peru and Brazil, CEO Mikael Staffas said on a conference call Tuesday.
The acquisition gives the Swedish miner its first foothold outside Europe, Staffas said. He said Boliden is ready for a next step, citing a strong balance sheet and financial position. The company has built a leading position in Europe and demonstrated organic growth through profitable investments and exploration.
Staffas said Boliden has a well-developed project portfolio and efficient operations that will help integrate the new assets. No financial terms were disclosed.
Nexa produces zinc and copper. The deal expands Boliden's geographic reach and adds exposure to Latin American mining, a region that accounts for a major share of global commodities production.
The acquisition marks a departure from Boliden's focus on European operations. Staffas said the company's balance sheet strength enabled the deal.
Nexa runs mines and smelters in Peru and Brazil, producing zinc and copper.
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