SMM11, September 9: yesterday, Nyrstar received a lot of attention after reports that its Pirigang (Port Pirie) smelter in South Australia may violate environmental operating standards. The Australian Broadcasting Corporation (Australian Broadcasting Corporation) said a recent report by the Environmental Protection Agency (environmental Protection Authority) showed that lead levels in the air had risen to their highest level since 2014. Debt-ridden Nyrstar has invested hundreds of millions of dollars in redeveloping the port of Peary. If the project goes well, it should boost profits significantly between now and 2020.
"as we accelerate the pace of new environmental technologies, we are also operating old sintering plants, which increases the complexity of managing emissions and achieving environmental goals," Nystar said in a statement. With the continuous increase in the capacity of the system, the air limit is likely to temporarily exceed the lead level set by the government at the end of the quarter. Therefore, as a precaution, in order to ensure that we comply with our environmental obligations, Nyrstar decided not to operate the old plant in December to further support emission reduction efforts. This is not expected to have a substantial financial impact in the fourth quarter of 2018. Nyrstar has also developed a series of other plans aimed at addressing emissions from the Pirigang plant.
(environmental Protection Authority), the Environmental Protection Agency of South Australia, said publicly that it was satisfied with the measures currently being taken by Nyrstar.
Nyrstar shares have fallen more than 80 per cent this year to record lows. The largest shareholder in the Belgium-based company is Trafigura, one of the world's largest commodities traders. The company has acquired a 24.6 per cent stake in Nyrstart and has reached a number of supply and marketing agreements.
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