A Word from Doe Run Peru:

In recent months, some have questioned our commitment to Peru and the people of the La Oroya community.

In response, let us be clear: Doe Run Peru intends to be a long-term partner of Peru and sustain our commitment to being a responsible steward of the local environment.

We recognize this has been a difficult situation, most of all for our employees. Due in part to the world economic crisis and the decision by our financial institutions to withhold funding for the La Oroya complex, the company was left with no alternative but to suspend operations. Additionally, complimentary regulations promulgated under the law passed by Congress may cause delays in restarting the facility.

Regrettably, this has taken time. But we are making progress — and are hopeful a resolution will take place soon so that the people and the community can get back to business.

It’s important that those impacted by these recent, unwelcome developments understand one fundamental certainty — the events of this past year have no bearing on our pledge to build a more promising future for La Oroya.

This is substantiated by the significant financial commitment Doe Run Peru has already made to the operational and future environmental integrity of La Oroya. To date, we have invested over $100 million in facility improvements and $30 million in social responsibility programs, which directly benefit both the La Oroya and surrounding communities.

Moreover, we have invested over $300 million on Environmental Adjustment and Management Plan projects to improve operations to meet environmental standards at the complex. When complete, this figure will total almost $500 million — more than four times the initial investment Doe Run Peru committed with the State in 1997 when the La Oroya complex was acquired. We take our environmental responsibility seriously – illustrated by our consistent record of environmental compliance at La Oroya.

These facts reaffirm our purpose to build a long-term solution for a stronger, more environmentally sound La Oroya for years to come. When we resolve the current situation – and restructure our financing in a more global manner – we will move to restore the supply chain so as to be in a position to re-start our operations.

Sincerely,
Doe Run Peru