Nyrstar announces 2009 Full Year Results

With the severe downturn in the global economy leading to reduced demand for zinc and other commodities in 2009, Nyrstar responded rapidly by drastically reducing its production profile, resulting in zinc production for the year of 817,000 tonnes, down 23% compared to 2008. Following the appointment of new CEO Roland Junck and the re-structure of the management team in February 2009, a comprehensive program was initiated to rapidly transform the Company into a lean, efficient, dynamic and flexible business focused on creating value.

Roland Junck, chief executive officer of Nyrstar, said, "2009 was a year of action for Nyrstar. At the start of the year we committed to a program to rapidly transform Nyrstar into a performance driven organisation that is able to respond faster and more decisively to changing market conditions. We set aggressive targets to achieve sustainable annual cost savings through reduced headcount and operating costs, and in some cases have increased these targets. In all cases we have delivered or are on track to deliver on our commitments, providing a strong foundation for a sustainable future. We undertook a comprehensive strategic review and announced the results of this review during June 2009. We believe that our new strategy provides Nyrstar with a clear direction to pursue our vision of becoming the partner of choice in essential resources for the development of a changing world. In the six months since we announced our new strategy we have completed a number of key acquisitions that will ensure both smelting and mining provide valuable contributions to our future earnings, and we continue to actively explore additional opportunities to deliver on our strategy. Our financial position remains strong as a result of prudent cash management and important financing initiatives, providing us with the financial strength to continue to deliver on our strategy. The market for zinc has recovered throughout the year, driven by a gradual recovery in consumption of developed economies and growing demand in China. We continue to believe that whilst markets will remain volatile, the future for zinc and other resources in the medium to long-term is strong and will provide opportunities for growth. We have a clear vision for a confident future, and the conviction and financial strength to continue to deliver on our commitments."