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	<title>Payday Loans And Finance Blog &#187; Bank Loans</title>
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		<title>Doe Run Peru is shutting down operations</title>
		<link>http://www.phenomenalwomen.ws/currency-news/doe-run-peru-is-shutting-down-operations</link>
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				<category><![CDATA[Currency News]]></category>
		<category><![CDATA[Bank Loans]]></category>
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		<description><![CDATA[Doe Run Peru is shutting down operations at its La Oroya metallurgical complex, a company official said Tuesday. &#8220;Yes. We are in this process (of shutting down.) The problem is a lack of  concentrates,&#8221; said Jose Mogrovejo, Doe Run Peru&#8217;s vice president for environmental affairs.
Doe Run Peru, a unit of the U.S.-based Renco Group [...]]]></description>
			<content:encoded><![CDATA[<p>Doe Run Peru is shutting down operations at its La Oroya metallurgical complex, a company official said Tuesday. &#8220;Yes. We are in this process (of shutting down.) The problem is a lack of  concentrates,&#8221; said Jose Mogrovejo, Doe Run Peru&#8217;s vice president for environmental affairs.</p>
<p>Doe Run Peru, a unit of the U.S.-based Renco Group Inc., had earlier worked out a deal with the Peruvian government and private sector suppliers to keep the complex running.</p>
<p><span id="more-19"></span></p>
<p>Doe Run Peru closed down almost all of its operations earlier this year after a drop in metals prices and a cutoff to bank loans impeded it from paying for concentrates. Doe Run Peru later resumed some operations after receiving the promise of a $175 million bail out from  rivate-sector mining companies who provide minerals to the La Oroya complex.</p>
<p>Peru&#8217;s National Society of Mining, Petroleum and Energy said recently that Doe Run Peru hadn&#8217;t lived up to promises made when the company received the private-sector financing deal.</p>
<p>The company said recently that the government hasn&#8217;t given any information nor details of any kind of &#8220;a viable and satisfactory solution&#8221; to its problems.</p>
<p>Doe Run Peru&#8217;s metallurgical complex northeast of Lima produces copper, lead, zinc and smaller amounts of other metals.</p>
<p>The company started an upgrade of the facility to meet overnment-mandated environmental standards, although it has asked for greater flexibility in meeting the Oct. 31 deadline.</p>
<p>Doe Run has been operating the La Oroya metallurgical complex since October 1997.</p>
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