As you know the smelter operated by Doe Run in La Oroya , was taken over by the board of creditors. The smelter had ceased operations but was reopened on a limited basis by the board of creditors with the intention of selling to smelter to a new operator.
The sale of the smelter is moving forward. In order to facilitate the sale of the facility the board of creditors has proposed a return to the emission standards of 2006 (which was 365 parts per million) with an eventual return to the 80 parts per million level. This would allow the buyer to start up full production immediately while installing the updated equipment to reduce emissions. The timeframe proposed to install the sulfuric acid plant and reduce emissions down to 80 parts per million is the year 2030.
To note; the 20 parts per million emissions standard that was approved into law and supposed to take effect in La Oroya in 2014 but then later re-interpreted by Congress and indefinitely postponed, is not even mentioned in the proposal...as if it does not exist.
It is unknown who all the prospective buyers are, but we understand there are about 12 or 13 lined up. Among them is Glencore. Also among them is Renco Group (or one of its entities). We'll keep you updated as we here more.
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