Nyrstar (NYR) Continuation Vote Faces Trafigura Abstention

Trafigura’s Urion Investments will abstain from voting on the continuation of Nyrstar’s activities at the company’s extraordinary general meeting on 30 June, according to a company statement released Monday.

The decision from Urion, a Trafigura group company and a significant Nyrstar shareholder, removes a key supporter from the first agenda item. The resolution asks shareholders whether the zinc smelter should continue its operations. Without Urion’s backing, the continuation vote faces a higher bar to pass, though the exact threshold depends on the turnout and voting of other holders.

Nyrstar, incorporated in Belgium and listed on Euronext Brussels under the symbol NYR, has struggled with refining margins pressured by volatile zinc prices and rising energy costs. The company’s 2025 results showed the strain. A failed continuation vote would likely trigger a formal liquidation process or a forced sale of assets, a outcome that has weighed on the stock in recent months.

Urion’s abstention signals that Trafigura, which controls a large part of the global zinc supply chain, sees limited value in the current corporate structure. The group may prefer to acquire Nyrstar’s assets through a separate channel rather than back a turnaround under existing management. Shareholders will watch for other large investors to declare their positions before the 30 June ballot.

The extraordinary general meeting is set for 11:00 a.m. CEST. The results will be released after the vote, and the company has not indicated a backup plan if the continuation resolution fails.