Peru Ministry Says Closer To Agreement On Doe Run Peru's Smelter-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Silicon
  • Copper
  • Futures movement
  • Prebaked anode
  • Inventory data
  • NEV
  • Lead
  • Nickel
  • MMi Iron Ore Port Index
  • Evening comments
  • New Energy Vehicle
  • Production data
  • Market commentary

Peru Ministry Says Closer To Agreement On Doe Run Peru's Smelter

Industry News 10:47:31AM Jun 01, 2010 Source:SMM

LIMA, May 31, 2010 (Dow Jones Commodities News via Comtex) -- Peru's Ministry of Energy and Mines said Monday that it is moving closer to resolving its outstanding disputes with Doe Run Peru, a unit of U.S.-based Renco Group Inc.

Doe Run's smelter, which normally produces copper, lead and zinc, was closed following a cutoff in bank loans, which prevented it from paying for metal concentrates. It has said it wants to restart operations at its stalled polymetallic smelter by July 27.

The government has been pressuring the company to restart operations and also to finish an environmental clean-up program.

Officials from Peru's government met with Doe Run Peru officials for a meeting Monday.

The Energy and Mines Ministry said that of four outstanding issues tied to Doe Run Peru's guarantee that it will restart operations, three have been resolved.

The government said the one issue still outstanding, involving the guarantee of when the company will restart operations, will require a change in current legislation.

The government earlier gave Doe Run a 30-month extension to its environmental clean-up deadline, from the original deadline of Oct. 31, 2009.
 

Price

more
#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

Peru Ministry Says Closer To Agreement On Doe Run Peru's Smelter

Industry News 10:47:31AM Jun 01, 2010 Source:SMM

LIMA, May 31, 2010 (Dow Jones Commodities News via Comtex) -- Peru's Ministry of Energy and Mines said Monday that it is moving closer to resolving its outstanding disputes with Doe Run Peru, a unit of U.S.-based Renco Group Inc.

Doe Run's smelter, which normally produces copper, lead and zinc, was closed following a cutoff in bank loans, which prevented it from paying for metal concentrates. It has said it wants to restart operations at its stalled polymetallic smelter by July 27.

The government has been pressuring the company to restart operations and also to finish an environmental clean-up program.

Officials from Peru's government met with Doe Run Peru officials for a meeting Monday.

The Energy and Mines Ministry said that of four outstanding issues tied to Doe Run Peru's guarantee that it will restart operations, three have been resolved.

The government said the one issue still outstanding, involving the guarantee of when the company will restart operations, will require a change in current legislation.

The government earlier gave Doe Run a 30-month extension to its environmental clean-up deadline, from the original deadline of Oct. 31, 2009.