Positive Announcement for Nyrstar Future
Port Pirie Regional Council is overjoyed with today’s announcement of a $135 million rescue package for Australian smelters including Port Pirie’s Nyrstar Smelter.
This package provides a vital lifeline to our region’s largest employer. As Australia’s only lead refiner and largest zinc refiner, Nyrstar contributes around $1.7 billion to Australia’s economy each year and employs 1,400 Australians directly, while supporting 6,647 jobs indirectly.
The Federal Government will invest $57.5 million to protect jobs in Australian smelters as part of the package, in addition to $55 million from the South Australian Government and $22.5 million from the Tasmanian Government.
The combined support package, together with investment from the company, will enable Nyrstar to maintain its operations while progressing detailed engineering plans to potentially rebuild and modernise both the Port Pirie and Hobart smelters
This support will be targeted toward projects including a planned Major Maintenance Project at Port Pirie, which will require more than 350 contractors and more than 90 suppliers.
The funding will also fast track feasibility studies into world-leading critical metals production. Through these studies, Nyrstar proposes to explore the potential production of essential critical minerals, including antimony and bismuth at Port Pirie.
These critical minerals are considered vital for sectors including defence, clean energy, transport, advanced manufacturing and high-tech applications.
An immediate focus of the package is to deploy an Antimony Pilot Plant in Port Pirie which, if successful, would make Port Pirie the only producer of antimony metal in Australia and one of the few producers in the world. Antimony is used to harden other metals, including lead in batteries, and as a flame retardant.
At the Country Cabinet session held in Port Pirie on Monday, Premier Peter Malinauskas said the State Government has been working intensely for weeks to secure a support package.
Port Pirie Regional Council Mayor Leon Stephens welcomed the announcement.
"This investment is not just a vote of confidence in Nyrstar, but in the future of Port Pirie,” Mayor Stephens said.
“It secures jobs, supports local businesses, and sets the stage for Port Pirie to become a national leader in critical mineral production.
“The announcement is a clear indication of the strategic and economic importance of Nyrstar to Port Pirie and the rest of Australia.
“Our community has a long and proud history and today’s announcement helps ensure that legacy continues for generations to come."
Nyrstar has expressed its commitment to working with governments in Australia to build upon its legacy assets to maintain and enhance sovereign strategic and critical metals manufacturing capability, ensuring the metals needed for modern economies, defence and renewables are available for the next generation.