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Hon Rob Lucas MLC,
Treasurer

Premier Steven Marshall and Treasurer Rob Lucas have this afternoon met with the global Chairman and CEO of Nyrstar’s largest shareholder, Trafigura, and other senior executives who confirmed payment of $43 million from Nyrstar Port Pirie towards the $291.25 million taxpayer-guaranteed loan for the smelter operations.

Trafigura head, Mr Jeremy Weir, had made a special trip to Adelaide to meet with the State Government, as part of a tour of Nyrstar’s Australian operations.

Treasurer Lucas welcomed the payment as a sign the company was acting in good faith ahead of the implementation of Nyrstar’s capital restructure.

The global commodity trading company has entered into a conditional restructuring arrangement that may lead to it becoming the majority owner of the Port Pirie smelter.

“This was the first time the Premier and I have had the opportunity to meet face-to-face with Trafigura’s Chairman and CEO, Mr Jeremy Weir, and our discussions were both productive and positive,’’ Mr Lucas said.

“Mr Weir reaffirmed the critical importance of the Port Pirie smelter to Nyrstar’s ongoing operations and that he saw it as a long-term investment.

“Whilst negotiations about the restructuring arrangement have not yet concluded, they are proceeding productively and we are hopeful they will be successfully resolved in the near future.”
Mr Weir will visit Port Pirie tomorrow before heading to Hobart.

27 May 2019