Nexa Resources: Suspends Jarosite project at Peru plant, shares fall
24/12/2019 15:32
** Shares of zinc producer NEXA.N down 2% at $8.21
** Company temporarily suspends its Jarosite conversion
project at the Cajamarquilla smelter in Peru due to problems
with its contractors and suppliers urn:newsml:reuters.com:*:nNDL89Kpqf
** See problems with the Jarosite conversion, which we had
previously considered to be lower risk, as potentially a
confirmation of bigger issues with project management and
execution - BMO Capital Markets
** Brokerage cuts PT to $9.25 from $10
** Including session's loss, stock has fallen ~31% this year
(Reporting by Shanti S Nair in Bengaluru)
((ShantiS.Nair@thomsonreuters.com))