Nyrstar to put Budel zinc operations on care and maintenance on Sept 1 (updated)

Nyrstar NV

16/08/2022 11:14

(Adds detail, background)
    LONDON, Aug 16 (Reuters) - Nyrstar  NYR.BR  will put its
zinc smelting operations at Budel in the Netherlands on care and
maintenance from Sept. 1, the Belgian company said on Tuesday,
citing "various external factors".
    Skyrocketing power prices have spurred suspensions and
cutbacks by zinc smelters throughout Europe.
    Nyrstar did not specify the factors behind their decision,
but a source close to the situation said electricity costs have
increased by as much as 10 times while labour, freight and other
costs also have increased.
    Budel has the capacity to produce 315,000 tonnes of zinc a
year, but has been operating at reduced capacity since late last
year.
    Last October, Nyrstar cut production by up to 50% at its
three European zinc smelters - Budel, Balen in Belgium and Auby
in northern France - due to the soaring price of electricity.
 urn:newsml:reuters.com:*:nL1N2R90G2
    On Tuesday. Nyrstar said Balen and Auby continue to operate
"at the curtailed production levels announced last year".
    The situation at Buden will remain under review, it added.

 (Reporting by Eric Onstad
Editing by David Goodman and David Evans)
 ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO;
 Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))