Regulated Information
29 February, 2012
Nyrstar NV (Nyrstar) and Sims Metal Management Limited (SimsMM) today announced that they have received the requisite regulatory approvals from the Australian Competition and Consumer Commission (AAAC) and the Foreign Investment Review Board (FIRB), and have now successfully completed the sale of Australian Refined Alloys' secondary lead producing facility in Sydney, Australia (ARA Sydney) to companies associated with Renewed Metal Technologies for a total sale price of approximately EUR 60 million (AUD 80 million).
The sale price is subject to a customary working capital adjustment. Assuming a sale price of EUR 60 million, Nyrstar would achieve a profit on the sale of its 50% share of ARA Sydney of at least EUR 15 million.
Nyrstar and SimsMM will retain ARA's secondary lead producing facility in Melbourne, Australia which will continue to be operated as a 50/50 joint venture allowing Nyrstar continued exposure (albeit on a smaller scale) to an important segment of the global lead market..
About Australian Refined Alloys (ARA)
ARA is a secondary lead producing 50/50 joint venture between Nyrstar and SimsMM. ARA has two facilities, ARA Sydney which is located in Alexandria (Sydney, Australia) and ARA Melbourne which is located in Laverton North (Melbourne, Australia). Total lead production in 2011 was approximately 30,600 tonnes (Sydney 20,000 tonnes and Melbourne 10,600 tonnes).
About Renewed Metal Technologies
Renewed Metals Technologies (RMT) is a privately held company that specialises in the recovery of renewable resources. RMT owns and operates a secondary lead producing facility in Wagga Wagga, New South Wales, Australia. For more information, visit www.rmt.au.com
About Nyrstar
Nyrstar is an integrated mining and metals business, with market leading positions in zinc and lead, and growing positions in other base and precious metals; essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting, and other operations located in Europe, the Americas, China and Australia and employs over 7,000 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on NYSE Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website, www.nystar.com
For further information contact:
Anthony Simms
Group Manager Investor Relations
T: +41 44 745 8157
M: +41 79 722 2152
anthony.simms@nyrstar.com
Geert Lambrechts
Manager Corporate Communications
T: +32 14 449 646
M: +32 473 637 892
geert.lambrechts@nyrstar.com
Kate Dinon
Group Manager Corporate Communications
T: +41 44 745 8154
M: +41 79 722 84 66
kate.dinon@nyrstar.com
The full press release can be downloaded from the following link: