Nyrstar to make $42 million payment towards Port Pirie smelter loan

Nyrstar, after discussions with its largest shareholder Trafigura – the global commodity trading company which has entered into a conditional restructuring arrangement that may lead to it becoming the majority owner of the Port Pirie smelter – has formally advised the State Government it will make a $42.3 million payment this month.  The commitment follows a meeting in Adelaide today…

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Statement regarding Nyrstar ownership

One of the world’s largest independent commodity trading companies, Trafigura Group Pte Ltd, has advised that it has entered into an agreement and has committed to interim funding arrangements of US$250 million as part of a process to secure a restructuring deal with Nyrstar’s financiers. The agreements are an important step towards the successful completion of the restructuring, which would…

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Modernising road maintenance

The Marshall Government will be extending its 20-year partnership with industry to modernise South Australia’s approach to maintaining our road network as announced in last year’s State Budget.  Currently, about 60 per cent of the annual road maintenance budget is delivered by industry through external contracts.  The State Government will soon release a tender for the maintenance of the…

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Shorten short-changes South Australia

 The State Government has called on the Shorten Labor Opposition to commit to the full $126 million budgeted by the Federal Coalition over the forward estimates towards completion of the North-South Corridor, with the ALP short-changing South Australia by $31 million.  Treasurer Rob Lucas also accused both Mr Shorten and State Labor Leader Peter Malinauskas of completely backing away from…

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Marshall Government welcomes 2019-20 Federal Budget

The Marshall Government has welcomed the 2019-20 Federal Budget as a ‘major investment in South Australia’s economic future’, with a raft of key infrastructure projects, regional roads upgrades and tax cuts to lower costs and create local jobs.  Treasurer Rob Lucas welcomed personal income tax cuts for low-and-middle income earners, small business tax incentives and…

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