Peru Mines Minister: Doe Run Peru Promises Smelter Restart

LIMA, Jun 21, 2010 (Dow Jones Commodities News via Comtex) -- Peru's Minister of Energy and Mines, Pedro Sanchez, said Monday that Doe Run Peru, a unit of the U.S.-based Renco Group Inc., has promised to restart operations at its La Oroya smelter by July 27 at the latest.

Doe Run's polymetallic smelter, which normally produces copper, lead and zinc, was closed following a cutoff in bank loans that prevented it from paying for metal concentrates.

In a statement, Sanchez said that the government won't change any government regulations. The company has been demanding the government modify various regulations before it could restart operations at the smelter.

The announcement by Sanchez came following meetings on Monday with Doe Run Peru executives.

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