TORONTO, ONTARIO--(Marketwire - July 19, 2012) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Silvermet Inc. ("Silvermet" or the "Company") (TSX VENTURE:SYI) announced today that operations have been halted due to a strike by unionized personnel at the Waelz kiln facility located in Iskenderun, Turkey.
Negotiations with union representatives are continuing. Stephen G. Roman Chairman, President and CEO commented: "We look forward to the resolution of outstanding issues and the resumption of operations. In the meantime, management is moving regularly scheduled maintenance forward to coincide with the current shut down in order to shorten maintenance related shut downs for the remainder of the year. We will provide further updates as warranted by developments."
Silvermet's principal business activity is the recycling of electric arc furnace dust ("EAFD") obtained from steel companies through a Waelz kiln to recover zinc concentrates that are then sold to zinc smelters throughout the world. The Company owns 49% of BST, which operates a Waelz kiln facility located in Iskenderun, Turkey.
Additional information can be accessed at the Company's website www.silvermet.ca or through the Company's public filings at www.sedar.com.
Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raised additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.