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Glencore is the only remaining potential investor for Weser-Metall

29.07.2020 − 

The Swiss commodities trader Glencore is the only remaining party interested in taking over of the primary and secondary lead producer Weser-Metall and its smelter in Nordenham, Lower Saxony. Initial talks had been held with the environment ministry of Lower Saxony with the aim of agreeing terms for a public-law contract addressing the liability for Weser-Metall's contaminated sites, the company's spokesman Thomas Hüser told EUWID.

Glencore is the largest single shareholder of Recylex, Weser-Metall GmbH's former parent company, and holds a stake of around 33 per cent in the lead producer. According to Mr Hüser, the discussions with the environment ministry were to address liability for several landfills and other sites in the region located outside the production facility in Nordenham.

Weser Metall and other subsidiaries of Recylex's German sub-group, namely, Harz-Metall GmbH, Norzinco GmbH and PPM Pure Metals GmbH have applied for "protective shield" procedures in May. Late last week, Lower Saxony's environment ministry announced that an agreement had been reached regarding a public-law contract on liabilities for contaminated sites related to Harz-Metall.

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