LONDON (ICIS)--Trafigura, the Swiss-headquartered commodities trader has taken full control of miner and sulphuric acid producer Nyrstar.
The trading house officially became majority owner on 31 July, and has reinstated financing facilities with Nyrstar’s financial creditors, following a restructuring process.
Forty-year mining industry veteran Daniel Vanin has been appointed CEO of the operating business of Nyrstar with immediate effect, and a new headquarters will shortly be established at Nyrstar’s operations in Budel, the Netherlands.
An employee consultation process was completed in July for Zurich-based staff affected by the news.
Three new bond instruments have been established by Trafigura as part of the restructuring process.
Nyrstar is a major provider of sulphuric acid in Europe and the US.