An in-principle deal has been struck between Nyrstar and the Federal and South Australian Governments for a $350 million upgrade of the lead and zinc smelter at Port Pirie to a cleaner operation.
An advanced poly-metallic processing and recovery facility will be built, which the SA Government says will secure the long-term future of more than 2,500 jobs.It said the upgrade would substantially reduce lead emissions in the Port Pirie area by replacing the ageing 120-year-old smelter with a much cleaner metal processing operation.Nyrstar will put in $200 million for the redevelopment and the Federal Government will be the guarantor for private equity investment for the rest of the funding.The planned work is now subject to feasibility studies, but the transformation is expected to lead to a significant improvement in air quality in the regional city.The SA Government said it would put $5 million into an immediate clean-up of environmental concerns, including lead dust.