A Boliden, Nexa Resources Combination Would Create a Major Zinc Player

Dow Jones

07/03

1320 GMT - Swedish miner Boliden's potential acquisition of Votorantim's 64.7% stake in Nexa Resources could create a dominant player in the global zinc market, UBS analyst Daniel Major writes. A combination of Nexa's and Boliden's operations would create the third largest zinc miner and smelter globally, he adds. Adding scale and diversification in both mining and smelting could generate some synergies from things like marketing, but UBS sees limited potential operational synergies between Boliden in Europe and Nexa in Latin America. Nexa's current consensus valuation is cheaper than Boliden's, and Nexa has more financial leverage and lower asset quality, the bank says. Nexa has $1.7 billion market capitalization, implying a current equity valuation for Votorantim's stake of around $1.1 billion, equating to around 7% of Boliden's market capitalization. Shares in Boliden rise 0.5%. (dominic.chopping@wsj.com)

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July 03, 2026 09:20 ET (13:20 GMT)

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A combination of Nexa's and Boliden's operations would create the third largest zinc miner and smelter globally, he adds. Adding scale and diversification in both mining and smelting could generate some synergies from things like marketing, but UBS sees limited potential operational synergies between Boliden in Europe and Nexa in Latin America. Nexa's current consensus valuation is cheaper than Boliden's, and Nexa has more financial leverage and lower asset quality, the bank says. Nexa has $1.7 billion market capitalization, implying a current equity valuation for Votorantim's stake of around $1.1 billion, equating to around 7% of Boliden's market capitalization. Shares in Boliden rise 0.5%. 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A combination of Nexa's and Boliden's operations would create the third largest zinc miner and smelter globally, he adds. Adding scale and diversification in both mining and smelting could generate some synergies from things like marketing, but UBS sees limited potential operational synergies between Boliden in Europe and Nexa in Latin America. Nexa's current consensus valuation is cheaper than Boliden's, and Nexa has more financial leverage and lower asset quality, the bank says. Nexa has $1.7 billion market capitalization, implying a current equity valuation for Votorantim's stake of around $1.1 billion, equating to around 7% of Boliden's market capitalization. Shares in Boliden rise 0.5%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 03, 2026 09:20 ET (13:20 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DBB","symbol_name":"基础金属ETF-PowerShares","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2648669375","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2648669375","pubTimestamp":1783084800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1320 GMT - Swedish miner Boliden's potential acquisition of Votorantim's 64.7% stake in Nexa Resources could create a dominant player in the global zinc market, UBS analyst Daniel Major writes. A combination of Nexa's and Boliden's operations would create the third largest zinc miner and smelter globally, he adds. Adding scale and diversification in both mining and smelting could generate some synergies from things like marketing, but UBS sees limited potential operational synergies between Boliden in Europe and Nexa in Latin America. Nexa's current consensus valuation is cheaper than Boliden's, and Nexa has more financial leverage and lower asset quality, the bank says. Nexa has $1.7 billion market capitalization, implying a current equity valuation for Votorantim's stake of around $1.1 billion, equating to around 7% of Boliden's market capitalization. Shares in Boliden rise 0.5%.  Dow Jones NewswiresJuly 03, 2026 09:20 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"DBB":"基础金属ETF-PowerShares","BK4168":"多种金属与采矿","NEXA":"Nexa Resources S.A."},"translate_title":"Boliden和Nexa Resources的合并将创建一家主要的锌公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DBB":1.5,"NEXA":0.9},"content_text":"1320 GMT - Swedish miner Boliden's potential acquisition of Votorantim's 64.7% stake in Nexa Resources could create a dominant player in the global zinc market, UBS analyst Daniel Major writes. A combination of Nexa's and Boliden's operations would create the third largest zinc miner and smelter globally, he adds. Adding scale and diversification in both mining and smelting could generate some synergies from things like marketing, but UBS sees limited potential operational synergies between Boliden in Europe and Nexa in Latin America. Nexa's current consensus valuation is cheaper than Boliden's, and Nexa has more financial leverage and lower asset quality, the bank says. Nexa has $1.7 billion market capitalization, implying a current equity valuation for Votorantim's stake of around $1.1 billion, equating to around 7% of Boliden's market capitalization. Shares in Boliden rise 0.5%. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 03, 2026 09:20 ET (13:20 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}