December 29, 2010 / 9:37 PM / 9 years ago

Peru government sees Doe Run decision in February

LIMA, Dec 29 (Reuters) - Creditors will determine in February whether to liquidate or restructure metals exporter Doe Run Peru, a unit of privately held U.S.-based Renco Group, the government said on Wednesday.

The overall process is being handled by Indecopi, a Peruvian regulatory agency.

“The first meeting of creditors could be held in February,” said Mining and Energy Minister Pedro Sanchez in a press release.

The Peruvian government had asked Doe Run to secure financing and guarantees for $110 million owed to creditors after a drawn out financial crisis and $150 million needed to finish an environmental cleanup of one of its sites.

The government canceled the company’s license to operate the sprawling La Oroya smelter in July when it had not met these conditions. (Reporting by Teresa Cespedes; Editing by Steve Orlofsky)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below