Doe Run Peru Preparing Response to Ministry Comments on La Oroya
Friday February 17, 5:27 pm ET
ST. LOUIS, MO--(MARKET WIRE)--Feb 17, 2006 -- The Doe Run Company's subsidiary, Doe Run Peru, said Friday it was committed to responding as soon as possible to a series of comments it received from Peru's Ministry of Energy and Mines on its application to extend the company's environmental operating agreement in Peru.
The comments, which come as a regular part of the application process, follow a technical analysis by the ministry on Doe Run Peru's proposal related to the agreement, which is commonly known by the acronym PAMA. The proposal seeks to extend by four years the time the company has to complete the last of nine projects designed to control emissions from the facility, which Doe Run Peru purchased from the government in 1997.
"We are pleased that the ministry has complied with the timeline required by law in issuing these comments," said Juan Carlos Huyhua, general manager of Doe Run Peru. "Doe Run Peru will work to respond to these comments in the shortest time possible as a demonstration that our proposal is the best solution to the pollution problem in La Oroya, an 80-year-old problem that Doe Run Peru has been working on actively" since arriving in the community.
Doe Run Peru has 30 days to respond to the comments. Huyhua noted that in a process as complex and technical as the extension application, receiving comments back was to be expected and is not unusual.
By the end of 2006 Doe Run Peru will have invested nearly $100 million to modernize the plant; On its own initiative the company increased the commitment to $175 million, in order to deal with the true costs of the work. The PAMA extension proposal, meanwhile, calls for additional investment that would bring the final total to almost $200 million, nearly double the original commitment of $107 million.
The company expects to bring lead emissions to within Peruvian limits by the end of the year and cadmium emissions have been cut in half. By the end of 2006, the facility is expected to be in compliance with all environmental requirements for solid wastes, liquid effluents and air emissions (with the exception of sulfur dioxide).
The one remaining environmental project involves a sulfuric acid plant, which is expected to bring sulfur dioxide emissions within permissible limits as the projects' three plants come online. Huyhua noted that the company's goal of completing the acid-plant project "is a clear demonstration of our commitment to staying in La Oroya."
Based in St. Louis, The Doe Run Company is a privately held natural resources company dedicated to environmentally responsible mineral production, metals fabrication, recycling and reclamation. The company and its subsidiaries deliver products and services needed to provide power, protection and convenience through premium products and associated metals including lead, zinc, copper, gold and silver. As the operator of one of the world's only multi-metal facilities and the Americas' largest integrated lead producer, Doe Run employs more than 4,000 people, with U.S. operations in Missouri, Washington and Arizona, and Peruvian operations in Cobriza and La Oroya. Committed to sustainable development, The Doe Run Company has helped bring electrical power, business training, educational opportunities and improved telecommunications to rural communities in Peru and the U.S. For more information, visit www.doerun.com.
Source: The Doe Run Company
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