According to Peru’s Minister of Work and Job Promotion (MTPE), he government would consider granting Doe Run Peru another extension to comply with the environmental clean-up (or PAMA, in Spanish) but only if the aforementioned company starts paying to their creditors.
Last April, fifteen mining companies dependent on Doe Run Peru’s smelter extended the mining company a $175 million credit line under two conditions: Renco Group should inject $165 million into Doe Run Peru, and the latter was supposed to pledge the 100% of its shares to the Peruvian government, to prove that it will comply with an environmental cleanup plan.
“The first thing the government demands from Doe Run is to comply with their creditors. Once Doe Run does it, we might start talking about other topics, such as, for example, an extension of the PAMA,”say Jorge Villasante, Peru’s Work Minister.
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