Nyrstar Australia reports generating $1.7 billion in economic value

Nyrstar Australia says its benefit to the Australian economy in the previous calendar year valued at $1.7 billion, in its ‘Economic Value Report Summary for 2022’ released last week.

Nyrstar is an international producer of critical minerals and metals with mining, smelting and other operations located in Europe, the United States and Australia. Locally, Nyrstar Australia is a multi-metals processing and refining business, operating in Port Pirie and Hobart for over 100 years to produce mainly lead, silver and zinc.

Nyrstar’s Co-CEO Dale Webb said the report shows the significant value Nyrstar creates in Australia each year.

“The metals we refine in Australia are critical to the manufacture of products the world needs — especially through the energy transition,” he said. “But our value goes beyond the metals we produce and refine — it extends to the economies and communities we are part of.

“The 2022 Economic Value Report shows that in Australia this value was $1.7 billion and we supported around 6400 full-time equivalent Australian jobs. The value we create for the communities where we operate is a significant priority for Nyrstar too, and in 2022 we helped support 27 community organisations in South Australia and Tasmania.”

Nyrstar Australia directly employs over 1300 people across processing plants in Port Pirie and Hobart that operate as two interlinked sites.

Of the $1.7 billion total economic impact, $838 million was through Nyrstar’s direct spending in Australia. This includes $670 million spent with over 1200 local businesses.

Webb says the value created by Nyrstar’s interlinked Australian sites had been an important contributor to the nation and the world for more than a century.

“Our Port Pirie and Hobart Operations have had a significant role to play in Nyrstar refining the metals and products needed for everyday use throughout the world for generations, and we are looking forward to the exciting years ahead,” he said.

Image: Operators in the casting area of Nyrstar's Hobart operations.