Nyrstar and Glencore end zinc agreement

BRUSSELS, April 16 Tue Apr 16, 2013 7:19am EDT

Related Topics

BRUSSELS, April 16 (Reuters) - Nyrstar, the world's largest producer of zinc, has ended its arrangement with commodities trader Glencore whereby the latter sells and markets zinc produced by Nyrstar in the European Union.

Glencore, which had to end the cooperation because of competition concerns after it had bought miner Xtrata, will pay a 44.9 million euro fee to Nyrstar.

The Belgian group said in a statement on Tuesday that it will also buy out Glencore's 7.79 percent stake in Nyrstar for 3.39 euros per share, for a total consideration of 44.9 million euros.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.