NEW YORK, Feb. 24, 2011 /PRNewswire/ -- Doe Run Peru today announced an offer by its parent, The Renco Group, to loan the company up to US$50 million to remediate the soils of La Oroya for the benefit of the local children and surrounding community.
Renco's offer provides access to critical resources that will enable the rapid fulfillment of the Peruvian government's remediation obligations in La Oroya.
Renco's offer is contingent upon matters to be negotiated with the Peruvian government, as well as the adoption of Doe Run Peru's restructuring plan in the Indecopi proceedings.
Today's offer signifies Renco's long-term commitment to the growth and success of Doe Run Peru and the community of La Oroya.
Doe Run Peru is hopeful that Renco's offer will initiate constructive discussions with government leaders to facilitate and implement the long-awaited cleanup of the community.
SOURCE Doe Run Peru