Belgium's financial regulator opens probe into Trafigura's Nyrstar
2019-10-12 13:43:21 [Print]
Belgium's Financial Services and Markets Authority ("FSMA") has opened a formal investigation into zinc group Nyrstar, now majority-owned by commodities trader Trafigura, an FSMA spokesman said, without providing additional details.
Nyrstar underwent a major restructuring this year to avoid bankruptcy, during which Trafigura stepped in to raise its stake to 98% from 24.4% previously.
Nyrstar is one of the world's largest zinc smelting companies with smelters across northern Europe, the United States and Australia. It also has zinc mines in North America.
The FSMA issued a warning on the transparency of Nyrstar's accounting in June and began the formal investigation last month.
Nyrstar underwent a major restructuring this year to avoid bankruptcy, during which Trafigura stepped in to raise its stake to 98% from 24.4% previously.
Nyrstar is one of the world's largest zinc smelting companies with smelters across northern Europe, the United States and Australia. It also has zinc mines in North America.
The FSMA issued a warning on the transparency of Nyrstar's accounting in June and began the formal investigation last month.
Zinc Conc. 50%min EXW China
Unit:RMB/mt Zn
China zinc concentrate producers' number MoM output increase statistics by province by month
Unit: pcs
