NYRSTAR NV Budel-Dorplein, 30 April, 2024 - Following a care and maintenance period from the second half of January 2024, Nyrstar's Budel operations in the Netherlands will restart at a reduced production capacity in the week commencing 13 May. This decision follows a thorough and comprehensive review and reflects recent improvements in market conditions and the temporary reinstatement of indirect cost compensation in the Netherlands that will help reduce Nyrstar Budel's overall energy costs.
Despite the decision to restart the Budel operations, the situation remains challenging, particularly in the Netherlands, as our Nyrstar Budel business is at a significant disadvantage compared to similar operations in other European member states due to the Dutch government's discontinuation of support measures for energy-intensive industries including critical metals operations.
Guido Janssen, CEO of Nyrstar says: "We are pleased to announce the restart of Nyrstar Budel, to resume production of zinc and critical metals at this highly efficient electrolytic operation, in view of improving market conditions and temporary cost relief from the government of the Netherlands. I would like to thank our staff for their support and loyalty during a period of care and maintenance.
We continue to urge the government to introduce longer-term, sustainable support for high energy costs to provide a level playing field compared to other EU member states, and to enable solutions to reduce electricity network and transport costs, to underpin the longer-term economic viability of Nyrstar Budel. This will support future targeted investment in further electrification, flexible off-take and domestic production of essential metals at the site, as well as underpinning a sustainable future for our 500 direct employees and thousands of indirect employees."
Nyrstar Budel's nameplate capacity is [315ktpa] of zinc, but the smelter has been operating on a flexible basis since Q4 2021. The situation remains under constant review and Nyrstar continues to actively manage production capacity across its European operations to respond to the continued uncertain near-term market conditions.
ENDS
About Nyrstar:
Nyrstar is an international producer of critical minerals and metals essential for a low carbon future. With a market leading position in zinc and lead, Nyrstar has mining, smelting and other operations located in Europe, the U.S. and Australia and employs approximately 4,000 people. Its Corporate Office is based in Budel-Dorplein, the Netherlands.
The company's operations are located close to key customers and major transport hubs to facilitate reliable and efficient delivery of raw materials and distribution of finished products. Nyrstar's operating business is wholly owned by Trafigura, one of the world's leading independent commodity trading and supply chain logistics companies. Visit www.nyrstar.com.
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Nyrstar NV published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 13:14:46 UTC.
