NV has hired four senior managers to boost its marketing
capabilities ahead of the termination of its European sales
agreement with Glencore Xstrata Plc at year-end.
Corporación Nacional del Cobre de Chile (Codelco), Louis
Dreyfus Commodities Group, Rio Tinto Minerals and Trafigura
Beheer BV warehousing subsidiary Impalacome as observers
say Nyrstar is finalizing an offtake agreement with Hong
Kong-based trading house Noble Group Ltd. that is set to
include an option for the zinc producer to market a significant
portion of its own European commodity-grade output.
A Nyrstar spokeswoman
declined to comment on whether Noble has won the rights to sell
the European material, but stressed Nyrstars interest in
creating new marketing options. This might include Nyrstar
marketing as much as 50 percent of its own zinc production, one
source familiar with the situation said.
The Zurich-based group
has hired Julio Rojas, a vice president of market development
at Chiles Codelco, as group manager of sales, and Nancy
Concepcion, formerly of Rio Tinto Minerals, as group product
manager for metals, the company announced internally Sept.
Nick Bal, formerly a
lead and zinc trader at Louis Dreyfus, will manage raw
materials marketing, while Martin Snijder will join Nyrstar
from Impala to handle supply chain management.
commercial European zinc output equates to roughly 350,000
tonnes per year of material, while its remaining output from
smelters in Australia and the United States, which Baar,
Switzerland-based Glencore Xstrata will continue to market
until at least 2018, is estimated at about 200,000 tonnes per
European term premiums
for 2013 were broadly agreed between $135 and $145 on a
free-carrier basis last year, and negotiations for 2014 terms
will start at LME week in October, creating an imperative for
both Noble and Nyrstar to complete the deal before the mating
spokeswoman said she expects an announcement to be made by the
end of September at the latest.
Noble declined to
version of this article was first published in AMM sister
publication Metal Bulletin.