Nyrstar to exit mining

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Nyrstar has announced the formal launch of the sales process for all its mining assets.

These mining assets include operating mines in Canada, the U.S., Peru, Chile, Mexico and Honduras.

“Nyrstar has received a number of unsolicited expressions of interest for its mining assets from various potential buyers and will seek to engage with all prospective buyers for the mining assets, individually and as a portfolio, to ensure a fair and transparent sales process,” it said in a company statement.

The process will be carried out over a period of seven months.

It is unknown how this will affect its refinery operations, particularly those in Hobart and Port Pirie.

However, late last year the company signed a pledge to invest in its Tasmanian smelter, which followed on the back of an Australian stepping into the CEO role.

The company signed a binding agreement for a $52 million investment at the Hobart smelter.

The funding is used for four growth projects at the site, two of which are focused on increasing its capacity to treat more complex concentrates.

This agreement was modelled on a similar agreement struck between Nyrstar and the South Australian Government, where the two agreed to a $563 million redevelopment of the Port Pirie smelter to an advanced multi-metals processing and recovery facility.