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Consolidated statement of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
(Loss) Income before income tax $ (71,851) $ (296,084) $ 227,971
Depreciation and amortization 330,198 310,475 292,140
Impairment loss of long-lived assets 32,870 114,643 32,512
Share in the results of associates (21,223) (23,536) (1,885)
Interest, foreign exchange and other financial effects 230,858 137,405 127,630
Loss on sale and write-off of property, plant and equipment 16,183 3,734 698
Gain on divestments (9,028)
Other restoration obligations 6,960
Tax voluntary disclosure – VAT matters 102,939
Changes in provisions and other assets impairments   (15,512) (37,800) 84,393
Changes in fair value of loans and financings 3,627 525 1,472
Debt modification gain (3,142)
Changes in fair value of derivative financial instruments (194) (12,514) (14,947)
Changes in fair value of energy forward contracts (81) 15,663
Changes in fair value of offtake agreement 3,347 (2,268) (24,267)
Contractual obligations 21,084 10,121 10,565
Price cap on offtake agreement (3,246)
Decrease (increase) in assets      
Trade accounts receivable (85,208) 58,067 (29,215)
Inventory (34,728) 127,002 (75,071)
Other financial instruments (4,762) 13,271 8,648
Other assets (117,318) (70,948) (72,607)
Increase (decrease) in liabilities      
Trade payables 139,089 (451) (32,476)
Confirming payables 38,335 17,074 (16,348)
Other liabilities 82,980 (42,785) (17,448)
Cash provided by operating activities 532,278 431,493 501,765
Interest paid on loans and financings (128,068) (113,018) (109,263)
Interest paid on lease liabilities (11,645) (6,086) (1,543)
Premium paid on bonds repurchase (7,069) (3,277)
Income tax paid (35,776) (56,191) (118,719)
Net cash provided by operating activities 349,720 256,198 268,963
Cash flows from investing activities      
Additions of property, plant and equipment (259,010) (310,150) (382,468)
Additions of intangible assets (5,748) (3,087) (4,595)
Net sales of financial investments (663) 19,556 10,647
Purchase of stake in subsidiary from non-controlling shareholders 510
Proceeds from the sale of property, plant and equipment 738 1,229 751
Proceeds from the sale of Morro Agudo 2,078
Dividends received 25,185 22,100 7,867
Investments in equity instruments (700) (7,000)
Acquisition of additional shares in associates (4,136)
Net cash used in investing activities (237,610) (270,352) (378,934)
Cash flows from financing activities      
New loans and financings 799,439 56,408 95,621
Debt issue costs (7,577) (74) (128,533)
Payments of loans and financings (681,475) (27,087) (24,639)
Payments of lease liabilities (32,056) (15,170) (19,424)
Dividends paid (15,529) (23,713) (68,466)
Contribution of non-controlling interest capital (866)
Payments of share premium (25,000) (6,126)
Net cash provided by (used in) financing activities 61,936 (34,636) (151,567)
Foreign exchange effects on cash and cash equivalents (10,768) 8,223 15,547
Increase (decrease) in cash and cash equivalents 163,278 (40,567) (245,991)
Cash and cash equivalents at the beginning of the year 457,259 497,826 743,817
Cash and cash equivalents at the end of the year 620,537 457,259 497,826
Non-cash investing and financing transactions      
Additions to right-of-use assets   (64,955) (68,428) (2,450)
Additions to property, plant and equipment (18,581)
Write-offs of property, plant and equipment 16,579 4,089 1,449
Write-offs of right of use assets   (5,348) (7,374)
Additions to intangible assets related to offtake agreement and other intangibles (52,934)
Increase in investment in associates (32,456)
Derecognition of Nexa’s share of Enercan’s property, plant and equipment, intangible assets and financial investments $ 46,858