La Oroya deal is some way off

摘要

The future of the La Oroya metallurgical complex in Peru remains uncertain and the only commonly-held opinion in relation to resolving its financial difficulties is that a solution will not be reached soon. This view is perhaps understandable given the large number of stakeholders involved in the process, and that the total sum required in the form of a combination of funding, loans and guarantees is something in the order of 400 million. US dollars Not only must Doe Run Peru pay miners and traders for concentrates that have already been supplied, funds are required to restart necessary environmental improvements at La Oroya, and fresh credit lines are needed to provide the company with working capital to restart its business. We have got the impression that La Oroya will not be in a position to restart much before the end of this year at the earliest.