Outokumpu buys Norzink smelter

Denver — Boliden (BOL-T) and Rio Tinto (RTP-N) have completed the US$180-million sale of the Norzink smelter and refinery complex to Finnish giant Outokumpu. The operation is in southwestern Norway.

As a result of the transaction, Outokumpu is now the third-largest producer of zinc in Europe and accounts for 5% of world production. The Norzink smelter produces 150,000 tonnes of refined zinc from concentrate per year. Outokumpu’s primary smelter complex is the larger Kokkola plant, in Finland.

Boliden decided to sell its 50% stake in the operation last July as part of a restructuring plan.

Meanwhile, the company has extended its sale of the Lomas Bayas copper mine and Fortuna de Cobre project in Chile to Falconbridge (F-T) and Noranda (NOR-T), allowing the two to complete due diligence.