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Care and maintenance for Nyrstar's smelter in Netherlands

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(Kitco News) - Nyrstar announced today that its Budel operations in the Netherlands will be put on care and maintenance from 1st September 2022 until further notice.

The company cited "various external factors impacting the business." Energy prices in Europe have spiked. https://www.kitco.com/news/2022-08-16/Russia-s-Gazprom-warns-European-gas-prices-could-climb-a-further-60.htmlRussianRussian state gas company Gazprom (GAZP.MM) said on Tuesday that European gas prices could spike by 60% to more than $4,000 per 1,000 cubic metres this winter, as the company's own export and production continues to fall amid Western sanctions.

Nyrstar Budel's nameplate capacity is [315ktpa] of zinc, but the smelter has been operating at reduced capacity since Q4 2021. Nyrstar's operations at Balen in Belgium and Auby in France continue at the curtailed production levels announced last year, actively managing operational capacity.

“No redundancies are planned as a result of the care and maintenance. Employee duties will be redirected to focus on maintenance, training and other essential activities. Today's announcement follows engagement between Nyrstar management and the operation's works council," wrote the company.

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