**Nexa Resources S.A. announced the completion of its sale of the Otavi Project in Namibia to Midnab Resources (Pty) Ltd., a subsidiary of Midas Minerals Ltd., on December 22, 2025.** The transaction involved the transfer of 10 Exclusive Prospecting Licenses (EPLs) within the Damara Belt, a key area for copper mineralization in northern Namibia. The sale includes a purchase price of $3 million, potential milestone payments of up to $7 million, and retained royalty rights for Nexa.
The Otavi Project was co-held with Japan’s JOGMEC, which will receive 49% of the sale proceeds. This divestment is part of Nexa’s strategy to optimize its portfolio and focus on higher-return assets, while maintaining interest in future copper exploration in Namibia. Nexa’s shares have increased by 88.5% over the past six months, significantly outperforming the industry’s 19.6% rise.
