Regulated information
13 March 2015
Nyrstar ('Nyrstar' or the 'Company') wishes to update the market regarding its zinc streaming agreement with Talvivaara Sotkamo Limited, a subsidiary of Talvivaara Mining Company Plc (collectively referred to as 'Talvivaara').
Further to the announcement by the Finnish State and Audley Capital Advisors LLP on 12 March 2015, Nyrstar has reviewed the prospects of recovering its zinc streaming agreement with Talvivaara and confirms that it has impaired the value of the agreement in full in its first quarter 2015 accounts. The impairment is a non-cash journal entry and Nyrstar remains compliant with all of its covenants under all financing agreements. The impairment does not have any operational impact on the Company.
The post-tax impairment charge is estimated to be approximately EUR 210 million.
Nyrstar has certain legal rights against Talvivaara, including a parent company guarantee from Talvivaara Mining Company Plc, and will continue to work with all stakeholders involved in the process towards recovering value.
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About Nyrstar
Nyrstar is an integrated mining and metals business, with market leading positions in zinc and lead, and growing positions in other base and precious metals; essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting, and other operations located in Europe, the Americas, China and Australia and employs approximately 6,500 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website, www.nyrstar.com
For further information:
Anthony Simms Group Manager Investor Relations T: +41 44 745 8157 M: +41 79 722 2152 E: anthony.simms@nyrstar.com
Greg Morsbach Group Manager Corporate Communications T: +41 44 745 8295 M: +41 79 719 2342 E: greg.morsbach@nyrstar.com
The full press release can be downloaded from the following link:
