Nexa Resources S.A. (NYSE:NEXA) Q3 2019 Earnings Conference Call - Final Transcript
Nov 01, 2019 • 11:00 am ET
already committed and we maintain our investment guidance of $140 million for 2019. In August Nexa announced the acquisition of Karmin and the Aripuana zinc project for $70 million. The transaction was concluded in October and now Nexa and its affiliates on 100% of the project. The acquisition reinforces not only our commitment to the project but the perspective to increase shareholder return to potential life of mine expansion and operational and tax synergies with our operations in Brazil. During the third quarter of 2019 we also began the training program for future miners and plant professionals as well as the refurbishment of the local school. Moving to our final slide. As we have been discussing over the past two years we expect to generate value through the performance of our operations and execution of our growth projects. Our balance sheet was prepared to support our investment cycle even in a different market scenario.
Our liquidity remains strong and we have just reinforced it with the new revolving credit facility. We have revised our short-term capital allocation strategy prioritizing operational efficiency initiatives without jeopardizing our long-term growth. The construction of Aripuana project continue to advance as expected. Mineral exploration activities also continue to progress in efforts to increase reserves and resources ensuring long-term sustainability. In respect to our current operations as previously mentioned we've signed a new energy agreement which would generate savings in Peru and Brazil starting January 2020. And in order to keep market update in terms of our potential value creation we plan on filing updated technical reports on Hilarion Cerro Lindo and Magistral in the short term.
Thank you all for your time and let's move on to the Q&A session.