Nyrstar announces new CEO + Nyrstar Announces Sale of Contonga

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Overig advies 14/12/2016 07:13
Regulated Information - Inside Information
13 December 2016 at 18.15 CET
The Board of Directors of Nyrstar NV ("Nyrstar" or "the Company") announce today that Bill Scotting, Chief Executive Officer of Nyrstar, has decided to leave the Company to pursue other opportunities with immediate effect.

Since joining in 2015, Bill has led Nyrstar and been instrumental in implementing the change in strategy to strengthen the balance sheet, divest the Mining segment, deliver substantial cash and cost savings and progress the Port Pirie Redevelopment.

Mr Hilmar Rode, an industry leader with significant experience in metals processing, the Board's unanimous choice as Bill's successor, will be the new Chief Executive Officer of Nyrstar effective immediately.

Hilmar's background in the metals industry and specifically his experience and technical knowledge of the smelting business will be an asset for the Metals Processing transformation strategy. He has demonstrated experience through his involvement with the construction and commissioning of an ISA smelt furnace and acid plant at the Kazzinc project in Kazakhstan, and his extensive experience at the Skorpion zinc project in Namibia which produces special high grade zinc. Further detail of Hilmar's professional experience can be found in the Notes to Editors below.

Chairman, Martyn Konig said: "The Board thanks Bill for his hard work and unrelenting dedication since he joined Nyrstar. We all wish Bill the best for his next venture."

"For Nyrstar, 2017 is a significant year of delivery with the Port Pirie Redevelopment, further optimisation of the Metals Processing assets and the divestment of the remainder of the Mining segment. We welcome Hilmar as CEO and are confident that his extensive experience in delivering projects of this scale and type will successfully execute the Company's strategy."

Nyrstar reiterates its 2016 full year guidance.

Nyrstar Announces Sale of Contonga
Regulated Information - Inside Information
14 December 2016 at 7am CEST
Nyrstar NV ("Nyrstar" or the "Company") today announces that it has entered into Share Purchase Agreements to sell its Contonga mine in Peru and various mineral claims located in Quebec, Canada to subsidiaries of Glencore plc, a global diversified natural resources company, for a total cash consideration of USD 26 million (the "Transactions"). The total cash consideration for the Transactions is made up of USD 21 million for the Contonga mine and USD 5 million for the mineral claims. Closing of the Transactions are subject to customary closing conditions and are expected to occur in the first half of 2017.

The Transactions are part of the sale process for all or the majority of Nyrstar's mining assets which was formally launched in January 2016 and includes the completed sale of the El Toqui mine in Chile and the announced sale of the El Mochito mine in Honduras. Nyrstar is continuing to progress the divestment of mining assets and will issue further updates in due course.

BMO Capital Markets Limited and Lazard & Co. are acting as financial advisors to Nyrstar in connection with the Transactions.



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