Trafigura moves closer to recapturing rights to more of Nyrstar's zinc

Trading house Trafigura is a step closer to regaining zinc marketing rights that it lost in 2008, after Monday’s announcement of a rights issue which could see it owning almost 50% of zinc producer Nyrstar.

Trafigura will take up to €125 million ($134 million) of the €250-275 million rights offering from zinc producer Nyrstar, the trading house said on Monday November 9, which would give it a 49.9% stake in the producer.
As a result of its support, Trafigura will enter a relationship agreement with Nyrstar to supply lead and zinc concentrates, and market the refined material, although it is understood that this will not replace the deals the producer holds with Glencore and Noble.

“We are happy to confirm our intention to underwrite half of the planned rights issue,” Trafigura ceo Jeremy Weir said. “This is a sign of our...

Published

James Heywood

November 12, 2015

15:08 GMT

London