TMX Group (TSX:X) announced Brazilian mining company Nexa Resources S.A (Nexa), formerly known as Votorantim Metais Holding S.A, has began trading on Toronto Stock Exchange (TSX) under the symbol TSX:NEXA.
We are extremely proud to welcome Nexa to Toronto Stock Exchange, in a celebration marking one of the largest mining IPOs in our 165-year history,” said Nick Thadaney, President & CEO, Global Equity Capital Markets, TMX Group. “TMX is honoured that a large multinational mining company such as Nexa chose our Exchange as its listing partner. We are steadfastly committed to enhancing the value proposition that our unique ecosystem offers companies of all sizes and stages in pursuit of their growth objectives.
To celebrate the listing, Jones Belther, Senior Vice President of Mineral Explorations & Technology, Nexa will join Mr. Thadaney to open the market this morning at 9:30 a.m. ET.
TSX is the premier mining market in the world, and this listing allows us to introduce ourselves to an investor base with a deep mining knowledge,” said Tito Martins, Chief Executive Officer of Nexa. “We are one of the world’s largest zinc producers, known for our large-scale, low-cost, vertically integrated approach. Our company has grown significantly in recent years, and maintaining that momentum requires investment in our assets, our business and our people. This IPO will be an important source of capital to continue our strong track record of growth.
Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. The company operates and owns five long-life underground mines, three located in the Central Andes, in Peru and two located in the state of Minas Gerais in Brazil. Two of the company’s mines, Cerro Lindo in Peru and Vazante in Brazil, are among the 12 largest zinc mines in the world, and, combined with the company’s other mining operations, places the company among the top five producers of mined zinc globally in 2016, according to Wood Mackenzie. Nexa also operates three smelting assets, two in Brazil located in the state of Minas Gerais and one in Peru, in Cajamarquilla.
Momentum in the mining sector continues with two mining IPOs closing on TSX last week – Titan Mining Corporation (TSX:TI) and Ero Copper Corp. (TSX:ERO) with projects in the U.S. and Brazil, respectively. TSX and Venture Exchange are home to 1,214 mining companies with a market capitalization of approximately $293 billion, as at September 30, 2017.