After a period of care and maintenance starting in the latter part of January 2024, Nyrstar's Budel operations in the Netherlands will recommence at a reduced capacity during the week of May 13th. This choice comes after a detailed evaluation, considering recent market improvements and the temporary reinstatement of indirect cost compensation in the Netherlands, which will aid in reducing Nyrstar Budel's energy expenses.

Although the Budel operations are set to restart, the circumstances remain challenging, especially in the Netherlands. Company Nyrstar Budel business faces a notable disadvantage compared to similar operations in other European member states. This is due to the Dutch government's cessation of support measures for energy-intensive industries, including critical metals operations.

Guido Janssen, Nyrstar's CEO, expresses satisfaction with the decision to restart Nyrstar Budel for zinc and critical metals production. This move aligns with improved market conditions and temporary cost relief from the Dutch government. Janssen extends gratitude to the staff for their support and loyalty during the care and maintenance period.

We persist in urging the government to implement sustainable, long-term measures to address high energy costs, ensuring parity with other EU member states. This will enable solutions to mitigate electricity network and transport expenses, ensuring the long-term economic sustainability of Nyrstar Budel. Such measures would support targeted investments in electrification, flexible off-take, and domestic metal production at the site, fostering a sustainable future for our 500 direct employees and thousands of indirect employees.

Nyrstar Budel boasts a nameplate capacity of 315ktpa for zinc, although since Q4 2021, the smelter has been operating flexibly. Given the ongoing uncertain market conditions in the near term, Nyrstar is vigilantly monitoring the situation and actively adjusting production capacity across its European operations.

Nyrstar plays a vital role as an international producer of essential minerals and metals crucial for advancing towards a sustainable, low-carbon future. Boasting a strong presence in zinc and lead markets, Nyrstar operates mines, smelters, and other facilities across Europe, the U.S., and Australia, employing approximately 4,000 individuals. Headquartered in Budel-Dorplein, the Netherlands, the company strategically situates its operations near major transportation hubs and key customers, ensuring reliable and efficient delivery of raw materials and distribution of finished products. Nyrstar's operational arm is fully owned by Trafigura, a globally renowned independent commodity trading and supply chain logistics company. This strategic partnership enhances Nyrstar's capabilities and reinforces its position as a leading player in the critical minerals and metals industry, driving progress towards a sustainable future.