Nyrstar to announce major investments for Hobart smelter

NYRSTAR has announced $52 million will be invested in four important growth projects at its Hobart smelter.

Nyrstar zinc works factory in Lutana, transformer fire cuts production

NYRSTAR and the State Government have announced a funding and support package to support important investments at the Hobart smelter.

In total, there will be a $52 million investment, with the State Government guaranteeing a $29 million grant from the Federal Government’s Export Finance and Insurance Corporation and Nyrstar investing the balance on four important growth projects at the smelter.

Two of these projects will significantly increase the smelter’s capacity to treat more complex concentrates following the closure of the Century Mine by the end of the year, which is currently the key provider of raw materials to the smelter.

The company said in a statement the funding and support package agreed today related to the upgrade of materials handling equipment and the addition of a side-leach plant and comprised $29 million of structured funding .

The funding is modelled on the successful partnership between Nyrstar and the South Australian Government for the transformation of the Nyrstar Port Pirie smelter into an advanced multi-metals facility.

Nyrstar Hobart plant manager Richard Curtis said Nyrstar Hobart was a key contributor to the local economy.

“The funding and support package is important for the site’s ongoing contribution as the state’s leading exporter by value and is very good news for the site’s 600 employees, the 3500 people whose jobs rely on the existence of the operation and the 125 people expected to be hired during the construction period,” Mr Curtis said.

State Growth Minister Matthew Groom joined Nyrstar chief Michael Morley at the plant for this morning’s announcement.