November 11, 2019 / 10:51 AM / 25 days ago

Nyrstar in final stages of restarting Port Pirie lead furnace

LONDON, Nov 11 (Reuters) -

* Trafigura’s zinc and lead firm Nyrstar is in the final stages of restarting its primary Top Submerged Lance furnace at its Port Pirie lead processing plant in Australia, the company said on Monday.

* The furnace has been shut since early August after an incident.

* The outage has been a key factor in boosting global lead prices. Benchmark lead on the London Metal Exchange hit 15-month highs in mid-October.

* The TSL is part of the 2018 redevelopment of the complex but the furnace had to be shut down in early August after an incident to be rebricked.

* “It will take several days before the furnace will be ready for the first feed, which is expected on November 14th,” the company statement said.

* Nyrstar was taken over by Geneva-based commodities trader Trafigura earlier this year after a restructuring to save the Belgium-based miner and smelter from bankrupcty.

* In a recent production report, Nyrstar said lead output at 51,000 tonnes in the first half of the year was down 27% for the same period last year. (Reporting By Julia Payne)

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