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Buyers Guide News Markets Buyer's Guide Advertise RSS Newsletter The Northern Miner MINING.COM Canadian Mining Journal Sign In Join Profile Sign out Copper Gold Lithium Nickel Commodities Iron Ore Rare Earth Coal Uranium Cobalt Diamond Zinc Platinum Palladium Silver Potash Suppliers Equipment TOP 50 USA Canada Australia Regions Africa China Latin America Europe Asia TNM Maps TNM Marco Polo Trafigura to take over world’s second-largest zinc smelter Bloomberg News | April 15, 2019 | 9:46 am Base Metals Europe Zinc Nyrstar’s Balen smelter operations in Belgium. Image courtesy of Nyrstar NV
Trafigura Group Ltd. will take control of Nyrstar NV, Europe’s biggest zinc smelter, as part of a deal to restructure the struggling company’s debt and steer it away from bankruptcy.
Under the agreement, Trafigura — Nyrstar’s main shareholder as well as a top supplier, customer and financier — offered a package of its own debt securities to Nyrstar’s creditors in exchange for them writing off debt. Sign Up for the Copper Digest Sign Up
Trafigura gave Nyrstar a $650 million rescue package late last year to keep the company running smoothly in the face of cash shortages
The deal will stretch Trafigura’s balance sheet, which is already heavy with debt, and force the commodities trader to double down on an investment in a company that’s on the brink of collapse. It would also see Nyrstar’s creditors, many of them distressed debt specialists an...
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