Key Facts
- Nexa Resources, the zinc miner, rose 2.87% to US$11.48 on Friday while a takeover by Boliden awaits approval.
- The deal, announced on 27 August, implied US$15.29 a share at the time; it is paid in Boliden shares, so the value moves with their price.
- Peru’s Buenaventura fell 2.00% to US$27.92 as gold and silver miners weakened.
- Boliden will take 64.68% of Nexa from Votorantim in a deal worth about US$1.31 billion; closing is expected in the first quarter of 2027.
- No zinc price is in our verified feed, so the miners’ shares serve as proxies.
Today’s Focus
Zinc producer Nexa Resources rose on Friday, 23 October, while the takeover agreed with Sweden’s Boliden still awaits approvals. Nexa’s New York shares gained 2.87% to US$11.48.
Peru’s Buenaventura moved the other way and fell 2.00%, in a day when gold and silver miners weakened.
What matters today. Nexa trades on a takeover story that has weeks of approvals ahead, while the zinc price itself is not in our verified feed.
01 The session in one read
Boliden, a Swedish mining and smelting company, announced on 27 August that it had signed a final agreement with Brazil’s Votorantim to acquire all its Nexa shares, or 64.68% of the company. Votorantim receives 0.250 new Boliden shares for each Nexa share, and the deal is worth about US$1.31 billion.
The transaction still needs shareholder, competition and foreign-investment approvals. Closing is expected in the first quarter of 2027.
Nexa produces zinc and silver in Peru and Brazil. Its shares closed at US$11.48 on Friday, up 2.87%.
Assessment — A takeover story against a weak metals tape MEDIUM
The exchange ratio fixes the number of Boliden shares, not a price in dollars, so Nexa’s implied value follows Boliden’s share price. The US$15.29 figure applied at announcement.
Gold and silver miners fell on Friday, so Buenaventura’s 2.00% drop reflects precious metals more than zinc.
02 The board
Nexa closed at US$11.48, up 2.87%. Buenaventura closed at US$27.92, down 2.00%.
We do not show a zinc price, because none is in our verified feed. The two shares are the clearest Latin American proxies.
| Asset | Level | Change |
|---|---|---|
| Nexa Resources (NEXA) | US$11.48 | +2.87% |
| Buenaventura (BVN) | US$27.92 | −2.00% |
| Gold miners fund (GDX) | US$80.20 | −1.82% |
Source: RT close, 2026-10-23. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
Live Market IntelligenceThe live market boardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
Regional
Oct 23, 2026 · 22:02
Ibovespa · benchmark
205,082.56 +0.47%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 4 names
50% advancing
2 ▲ advancing2 declining ▼
Currencies, rates & key inputs
USD / BRL
5.16
+0.01%
USD / MXN
17.06
-0.24%
USD / CLP
913.98
+0.04%
USD / COP
3,140
+0.03%
USD / ARS
1,493
+0.10%
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil 205,082.56 +0.47%
S&P/BMV IPCMexico 69,678.08 -0.30%
S&P IPSAChile 10,746.36 -0.31%
S&P MERVALArgentina 3,017,221 —
MSCI COLCAPColombia 2,540.10 +0.46%
BVL S&P PerúPeru 57,021.19 +0.13%
Full instrument board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,082.56 | +0.47% | +21.85% | 204,120.12 | 168,310 | 167,142 | — |
| IPSA | 10,746.36 | -0.31% | — | 10,780.31 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 69,678.08 | -0.30% | +12.17% | 69,889.73 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 3,017,221 | — | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,540.10 | +0.46% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 57,021.19 | +0.13% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
Largest moves today
USD/PYG 5,939 +1.68%
USD/DOP 58.34 +1.25%
USD/UYU 40.27 +1.24%
EUR/BRL 5.95 +1.01%
USD/CRC 445.92 +0.89%
USD/BOB 11.64 -0.76%
USD/PEN 3.36 -0.66%
IBOV 205,082.56 +0.47%
The session read
The Ibovespa rose 0.47%, with breadth evenly split — 2 of 4 names higher. COLCAP led, while IPSA lagged.
03 What moved it
We found no news on Friday that explains Nexa’s gain. The shares follow the pending Boliden agreement and general market moves.
Metals weakened elsewhere. Gold fell 0.30% and the gold-miners fund 1.82%, and the US 10-year yield rose to 5.00%.
04 The Latin American read
Peru, Mexico and Bolivia are major zinc producers in Latin America. Nexa runs mines in Peru and Brazil.
For Brazil’s Votorantim, the deal swaps its Nexa stake for about 7.0% of Boliden.
05 The names to watch
Nexa is a takeover story. Buenaventura is a Peruvian gold, silver and base-metals miner, so it follows precious metals more than zinc.
Boliden’s own share price will determine the final value for Votorantim because the payment is in shares.
06 The outlook
The next steps are the shareholder meetings and the regulatory reviews. Until closing, Nexa’s shares will follow Boliden’s price and the market.
Zinc prices depend on Chinese demand and on mine supply, which we will cover when verified data are available.
07 What to watch
- Approvals: Shareholder meetings and competition reviews.
- Boliden’s share price: It sets the final value of the offer.
- Gold and silver: They drive Buenaventura.
- The Fed: Its decision on 28 October at 18:00 UTC.
Frequently Asked Questions
What did Boliden agree to buy?
Votorantim’s Nexa shares, or 64.68% of the company, for 0.250 new Boliden shares per Nexa share, about US$1.31 billion in total at announcement.
When will the deal close?
Boliden expects completion in the first quarter of 2027, subject to approvals.
Why did Buenaventura fall?
Gold and silver miners fell on Friday, and Buenaventura has broad precious-metals exposure.
Do you show a zinc price?
No, because none is in our verified data feed.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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