Belgian group Nystar says it will lay off 120 of its 600 staff at the world’s largest lead smelter at Port Pirie in South Australia.
The company confirmed the earlier @AuManufacturing repor that the completion of its $660 million plant upgrade meant fewer staff were required in future.
A sinter plant and the former blast furnace are closing as an advanced oxygen enriched bath smelting furnace is commissioned.
The new furnace extends the ability of the facility to process metals from lead and silver to zinc.
The company’s share price has slumped as zinc prices have fallen, forcing Nystar to miss a repayment of $30 million to the South Australian Government which underwrote the expansion.
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Photo: Nystar/Nystar Port Pirie.
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