Nyrstar announces 2011 Half Year Results

Record smelting output with continued growth in mining production

Record half year zinc metal production of 561,000 tonnes from the smelting segment Contribution of €29 million from "unlocking untapped value" initiatives in the smelting segment through the identification of recoverable silver Continued progress in mining ramp-up with zinc in concentrate production (including deliveries from the Talvivaara streaming agreement) up 58% in H1 2011 compared to H2 2

Commenting on the first half results, Roland Junck, Chief Executive Officer of Nyrstar, said, "In the first half of 2011 we have continued to grow in terms of our financial results, our scale of operations, and our level of ambition. We achieved an underlying EBITDA of €123 million, with solid contributions of €26 million and €117 million from our mining and smelting segments respectively. The zinc price, as well as the prices for a number of our key by-products, whilst remaining volatile improved on average between H2 2010 and H1 2011 in US dollar terms, and to a lesser extent in Euro terms due to the weakening of the US dollar against the Euro currency during this period. We are continuing to aggressively deliver on our strategy of upstream integration. With the expected closing of the Breakwater acquisition in Q3 2011 and full ramp-up of our mining operations expected by the end of 2012, our zinc integration level will reach 43% by such time, which would make us a top 5 global zinc mining company based on 2010 global production according to Brook Hunt. The Breakwater acquisition is in line with our strategy to selectively pursue opportunities in mining, and presents an exciting opportunity to get within striking distance of our medium-term zinc integration target of 50%. To support our upstream integration strategy, including the acquisition of Breakwater, and to further diversify our funding sources, we were delighted to successfully implement two major financing initiatives in H1 2011. Both the rights offering for €490 million and the public bond offering for €525 million were not only strongly supported by our shareholders and the market, but also demonstrate clear support for Nyrstar's strategy and our ability to deliver value accretive transactions. We remain confident in the fundamental medium to long term outlook for the zinc market and believe that Nyrstar, as the world's largest zinc metal producer and through its continued upstream integration, is well positioned to leverage off these strong zinc market fundamentals. During the first half, we re-entered the BEL 20 Index and are also now included in the Eurostoxx 600 index. Our inclusion in both of those indices validates our strategy for growth and our performance, along with the importance of Nyrstar within the Belgian and European markets. We are working hard to continue delivering on our strategic transformation and are thankful to our shareholders for their continued support."