Peru’s nearly 100-year-old polymetallic smelter La Oroya failed to draw any offers on Wednesday in the last of six scheduled auctions, delivering a blow to President Pedro Pablo Kuczynski’s plans to expand the Andean country’s metals refining capacity.
Kuczynski had extended the liquidation deadline for La Oroya a year ago and vowed to do his best to revive it. But no one tried to buy the smelter in auctioning that started in March, even after the government raised sulphur dioxide emission limits to reduce the cost of upgrades.
