Nyrstar

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Nyrstar N.V.
Naamloze vennootschap (a Dutch public company structure)
Traded as EuronextNYR
Industry Metallurgy
Founded 2007
Headquarters Zurich, Switzerland (corporate), Balen, Belgium (operational)
Key people
Bill Scotting (CEO),[1] Martyn Konig (Chairman) [2]
Products Smelting and alloying of zinc and lead; sulphuric acid production; gold, silver and copper (as by-products)
Revenue €3.139 billion (2015)[3]
Number of employees
5,000 (Feb 2016)[4]
Website www.nyrstar.com

Nyrstar N.V is a mining and metals business that specialises in zinc. Nyrstar has mining, smelting, and other operations located in Europe, the Americas, China and Australia. Nyrstar was created in 2007 by combining the zinc smelting and alloying operations of Zinifex (an Australian mining company, now merged with Oxiana Limited to form OZ Minerals) and Umicore (a Belgian materials technology company).[5] It is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels.[6]

Operations[edit]

Nyrstar has 9 mines in total: in Canada, Chile, Honduras, Mexico, Peru and the United States. Nyrstar has 6 smelters (in Australia, Belgium, France, Netherlands, and the United States) and 1 fumer in Norway. In January 2016, Nyrstar formally launched a sales process for all its mining assets.[6][7]

History[edit]

On 29 October 2007, Nyrstar listed on the Euronext Brussels stock exchange through an initial public offering (IPO) and joined the BEL20 index in its annual reshuffle on 4 March 2008.[8] The firm lost its position in the index a year later.

On May 5, 2011 Nyrstar announced that it had successfully completed the placement of its five-year 5.375% fixed rate bonds due 2016 through a public offering in Belgium and Luxembourg. The offering was increased from EUR 150 million to EUR 525 million and the subscription period, initially planned to close on 6 May 2011, was closed early on 2 May 2011.[9] A further rights offering was completed by the company on the 29th of February 2016 for around EUR 274 million. The equity raise was part of a wider package of balance sheet strengthening actions announced by the CEO Bill Scotting on 9 November 2015. The measures also included a zinc metal pre-pay agreement of $150m which was unveiled in December 2015. Scotting came to Nyrstar from ArcelorMittal in August 2015, replacing the then Acting CEO, Heinz Eigner, who had held this interim role since the departure of Roland Junck in November 2014. Scotting has since early 2016 started re-positioning Nyrstar as a company focused mainly on smelting as its core operations, moving the strategy away from the vertical integration plan (smelting & mining) of the Junck era.[10][11][12]

On 27 April 2016, the Board appointed a new Chairman, Martyn Konig, after Julien De Wilde stepped down from that position. Konig had been voted onto the Board in April 2015 as a Non-Executive Independent Director.

[2]

Nyrstar zinc works at Lutana in Hobart, Tasmania

References[edit]

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