Kazzinc blast may complicate Glencore sale

AN EXPLOSION at Glencore’s Kazzinc zinc smelter in Kazakhstan has killed two workers and injured five others, and has cast doubt over the Swiss miner’s efforts to divest its 70% stake in the company, according to the Financial Times.The blast struck the metallurgical complex in Ust-Kamenogorsk on Tuesday when a dust collector exploded in the smelting section of the electrolysis unit, said the newspaper citing Kazakhstan’s emergency services ministry.A fire covering 120 square metres was extinguished but part of the building collapsed, the Financial Times said. Footage circulating on social media showed rescue workers and search dogs picking through rubble amid blackened walls and pipework, it added.Glencore said the situation was “currently contained” with efforts focused on treating the injured. Air quality monitoring showed no environmental impact, the miner said.Glencore has been in discussions about offloading the asset, potentially to Kazakh construction entrepreneur Shakhmurat Mutalip, according to reports earlier this year. Potential buyers may now demand greater clarity on the plant’s operational and regulatory status before proceeding, said the Financial Times.The East Kazakhstan regional mayor has ordered a commission to determine the cause of the explosion. Authorities said measures would be taken to assess whether production could continue, and that safety oversight at the facility would be tightened.Kazzinc is a significant producer of zinc, lead and gold, generating $5.1bn in revenue and $1.65bn in adjusted earnings before interest and tax last year, boosted by higher gold prices. It produced 212,000 tons of zinc and 543,000 ounces of gold in the period.The post Kazzinc blast may complicate Glencore sale appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com