NVs new commercial general manager will strengthen the
companys marketing functions ahead of the termination of
its European zinc offtake deal with GlencoreXstrata at the end
of the year and the closure of the Century Mine in 2016, he
told AMM sister publication Metal
Rebuilding the companys
overall marketing capacity will also be a top priority as the
company looks to extract value from a post-supercycle metals
market, Bob Katsiouleris, the incoming commercial general
Katsiouleris joined Zurich-based
Nyrstar in January after serving as chief commercial officer of
Rio Tintos industrial minerals business (
amm.com, Jan. 3).
"The main aim is to bring back
the marketing capability we once had. For instance, we have an
opportunity post-Glencore to do that by building that
capability in house ourselves; but equally, the partnership
pool is a good one," Katsiouleris said on the sidelines of
Metal Bulletins 17th Annual Zinc and Its Markets
Seminar in Amsterdam.
Nyrstar has been approached by
about a dozen partiesincluding traders, banks, funds and
zinc consumerswith proposals to market all or part of the
350,000 tonnes per year of commodity-grade zinc that the
company produces at its European smelters.
While it examines those
proposals, it is also simultaneously exploring the option of
marketing the material itself and aims to make a decision
within the next four to six weeks, Katsiouleris said.
Glencore will continue to market
Nyrstars commodity-grade lead and zinc produced outside
of Europe when the deal ends in January.
As a condition of its merger
with Xstrata, Glencore is also required to introduce or
reintroduce Nyrstar to its zinc customers in Europe, although
many of them already buy alloys directly from Nyrstar.
The companys renewed focus
on marketing extends beyond exploring opportunities for the
sale of its European zinc metal, and Katsiouleris aims to
realign the commercial team to explore and anticipate new
opportunities within the concentrates, metals and by-products
markets to which it is exposed.
A version of this article
was first published by AMM sister publication Metal