South Australia has supported the transformation of Port Pirie’s metal processing facilities with a commercial financial arrangement that acknowledges both the importance of the strategic investment within Nyrstar’s global operations and the capacity to achieve better environmental and health outcomes for an important regional centre in the State’s Mid-North.
The South Australian Government’s role in the multi-million dollar Port Pirie Transformation is being led by the Resources Infrastructure and Investment Task Force and has delivered coordinated action across government to give Port Pirie’s smelting operations every chance to modernise in response to community demands for better environmental standards.
The high-powered Task Force is led by South Australian corporate director Bruce Carter and draws on technical and commercial expertise from the Department for Energy and Mining and its consultants, the Department of Treasury and Finance, the Attorney General’s Department and the Commonwealth’s export financing agency (EFA).
The Task Force regularly liaises with Nyrstar on the progress of the Port Pirie Transformation and the implications for the financial agreement initially reached with Nyrstar in 2015 and recently updated with Nyrstar’s new majority owner, international commodities trader, Trafigura.
The State Government has already:
- Reached a commercial financing agreement to secure compulsory repayment of the remaining money owed under a $291.25 million tax-payer guaranteed loan
- Authorised Trafigura’s takeover of Nyrstar as a majority owner as part of a capital restructure that converted Nyrstar’s perpetual securities to guaranteed secured debt
- Provided regulatory certainty to Nyrstar through the enacting by State Parliament of the Port Pirie Smelting Facility (Lead-In-Air Concentrations) Act 2013 to regulate the variations of environmental conditions
- Supported the Targeted Lead Abatement Program (TLAP) to ensure that children from birth to four years of age living in Port Pirie have the lowest possible blood lead levels.
The Environment Protection Authority South Australia in 2018 issued a two-year interim licence to Nyrstar Port Pirie that did not change the existing lead-in-air limits.
At the conclusion of the two-year interim licence, and as the ramp up of the new plant nears completion, the EPA plans to issue a longer term licence that reflects the ability of the new multi-metals processing and recovery facility to achieve lower emissions and the community’s expectations for improved environmental standards.
For more information contact:
Phone: +61 8 8463 3000