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Other financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Other Financial Instruments |
Schedule of derivative financial instruments |
Schedule of derivative financial instruments |  |  |  |  |  |  |
| Derivatives financial instruments |  | Offtake agreement measured at FVTPL |  | Energy forward contracts at FVTPL (i) |  | 2024
Current assets | 5,279 |  | - |  | - |  | 5,279
Non-current assets | 3 |  | - |  | - |  | 3
Current liabilities | (3,600) |  | (2,352) |  | (2,571) |  | (8,523)
Non-current liabilities | (198) |  | (17,314) |  | (11,099) |  | (28,611)
Other financial instruments, net | 1,484 |  | (19,666) |  | (13,670) |  | (31,852)
| Derivatives financial instruments |  | Offtake agreement measured at FVTPL |  | Energy forward contracts at FVTPL |  | 2023
Current assets | 7,801 |  | - |  | - |  | 7,801
Non-current assets | 92 |  | - |  | - |  | 92
Current liabilities | (10,343) |  | (2,091) |  | (6,643) |  | (19,077)
Non-current liabilities | (150) |  | (17,474) |  | (9,421) |  | (27,045)
Other financial instruments, net | (2,600) |  | (19,565) |  | (16,064) |  | (38,229)
(i) On December 31, 2024, due to the current scenario of high energy supply in Brazil, the Company has a projected energy surplus on forward contracts with some suppliers. Consequently, the Company recognized the fair value arising from the mark-to-market of current purchase until 2026, which resulted in an income in the amount of USD 81. This amount was accounted for as an income within “Other income and expenses, net” (Note 9) and will vary according to the market’s energy prices.
Schedule of fair value by strategy |
Schedule of fair value by strategy |  |  |  |  |  |  |
|  |  |  | 2024 |  |  | 2023
Strategy | Per Unit | Notional |  | Fair value |  | Notional | Fair value
Mismatches of quotational periods |  |  |  |  |  |  |
Zinc forward | ton | 232,717 |  | 1,449 |  | 209,951 | (3,175)
|  |  |  | 1,449 |  |  | (3,175)
Sales of zinc at a fixed price |  |  |  |  |  |  |
Zinc forward | ton | 2,584 |  | 203 |  | 7,233 | 1,026
|  |  |  | 203 |  |  | 1,026
Interest rate risk |  |  |  |  |  |  |
IPCA vs. CDI | BRL | 100,000 |  | (168) |  | 100,000 | (451)
|  |  |  | (168) |  |  | (451)
|  |  |  | 1,484 |  |  | (2,600)
Schedule of changes in fair value |
Schedule of changes in fair value |  |  |  |  |  |
Strategy | Cost of sales | Net revenues | Other income and expenses, net – Note 9 | Net financial results – Note 10 | Other comprehensive income | Realized (loss) gain
Mismatches of quotational periods | (33,063) | 27,514 | 746 | - | (872) | 10,299
Sales of zinc at a fixed price | - | 3,626 | - | - | - | (4,449)
Interest rate risk – IPCA vs. CDI | - | - | - | 135 | - | 148
Interest rate risk – EUR vs. CDI | - | - | - | 1,236 | - | (1,236)
2024 | (33,063) | 31,140 | 746 | 1,371 | (872) | 4,762
2023 | 14,988 | (483) | (1,385) | (606) | 732 | 13,271
Schedule of energy forward contracts |
Schedule of energy forward contracts |  |  |  |
|  |  | Notional | Notional
| 2024 | 2023 | 2024 | 2023
Balance at the beginning of the year | (16,064) | - | - | -
Changes in fair value | 81 | (15,663) | - | -
Foreign exchanges effects | 2,313 | (401) | - | -
Energy forward contracts (Megawatts) | - | - | 747,498 | 688,877
Balance at the end of the year | (13,670) | (16,064) | 747,498 | 688,877
Schedule of changes in fair value offtake agreement |
Schedule of changes in fair value offtake agreement |  |  |  |
|  |  | Notional | Notional
| 2024 | 2023 | 2024 | 2023
Balance at the beginning of the year | (19,565) | (21,833) | 27,562 | 30,810
Changes in fair value – note 9 | (3,347) | 2,268 | - | -
Deliveries of copper concentrates | - | - | (5,274) | (3,248)
Price cap realized (i) | 3,246 | - | - | -
Balance at the end of the year | (19,666) | (19,565) | 22,288 | 27,562
(i) During 2024, there were sales with the copper price higher than the price cap, therefore resulting in the reduction of the financial instrument liability for these sales, and the recognition of revenue at fair values.

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