Peru’s Deputy Minister of Mining, Fernando Gala, declared publicly that despite having declared itself insolvent, Doe Run Peru “still has the obligation of meeting the environmental cleanup as soon as possible.”
Gala remarked that Peru’s goverment expects Doe Run to have this task done in two months’ time (by October 31st) but admitted that “it is very complicated for Doe Run to meet this deadline.”
Meanwhile, Doe Run Peru’s Vice President for Environmental Affairs, Jose Mogrovejo, insists on requesting an extension of 30 months to do the cleanup.
“We need Doe Run to become credit-worthy again, and it won’t be possible without an extension,” declared Mogrovejo.
Doe Run Peru is a subsidiary of the US based Renco group.
Doe Run Peru still needs to invest US $115 million dollars in order to finish with the last stage of the cleanup, and has at present a total debt of US 120 million dollars with its creditors.
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