Nyrstar to invest $284m in zinc electrolysis plant in Australia

Reuters | April 28, 2022 | 7:52 am Australia Zinc

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Image courtesy of Nyrstar

Swiss zinc smelter Nyrstar said on Thursday it would invest A$400 million ($284 million) to build an electrolysis plant in Hobart as it looks to bolster the metal’s production in Australia.

The investment includes funding of A$50 million from the Federal Coalition and A$20 million from the Tasmanian government.

Demand for zinc, a key element used in batteries and solar cells, has soared as the world transitions from fossil fuels to renewable sources of energy, with the commodity’s price also getting a boost from the Ukraine crisis.

The project has received regulatory approvals from the Environment Protection Authority of Tasmania and the Glenorchy City Council, the company said.

($1 = 1.4085 Australian dollars)

(By Upasana Singh; Editing by Anil D’Silva)