Nyrstar to Spend $386 Million on 25 Projects

Reuters reported that Nyrstar NV (EBR:NYR) will be investing $386 million in 25 projects aimed at improving the profitability of its zinc smelting business. The projects, which include removing smelter bottlenecks, building fuming capacity and extracting minor metals, are set to begin in early 2014.

As quoted in the market news:

Nyrstar said it could start improving earnings from late 2014, with completion by early 2017. The post-tax internal rate of return would be 25-30 percent.

The first part of Nyrstar’s transformation would be a 5 million euro acquisition of ERAS Metal, the owner of a fuming plant in Hoyanger, Norway, with a further 2 million euros to upgrade the plant.

Nyrstar also said it would directly invest 80 million euros to redevelop a lead smelter at Port Pirie in South Australia into an advanced metals recovery and refining facility.

Click here to read the full Reuters report.