The recent articles in De Tijd about Nyrstar's activities in Belgium evoke mixed feelings.
- Kris Vansanten
- Sep 2
- 2 min read
Yes, a battery park in Balen provides job security and contributes to the energy transition, and we can only applaud that. And yes, granting an environmental permit seems logical if the necessary conditions are met—this way, we can create or maintain economic prosperity.
But unfortunately, the reality is more complex and worrying. Since 2019, Nyrstar's assets have been owned by Singaporean commodities giant Trafigura. This Nyrstar therefore no longer has anything to do with the Belgian listed company Nyrstar NV, but is de facto “Trafigura Belgium”.
Did LRM NV and the Limburg provincial government take sufficient account of the fact that Trafigura is known worldwide for all kinds of (environmental) violations and scandals and that, in our country too, the company is involved in various legal disputes before the decision was taken to provide Nyrstar with financial support and extend an environmental permit? Recently, the company was convicted of corruption in Switzerland. The International Criminal Court in The Hague is also investigating Trafigura. This is a dubious honor that few companies receive.
Trafigura has a long history of ecological abuses, some with fatal consequences. Think of the oil pollution in West Africa, the UN Oil-for-Food scandal, and repeated violations of environmental and safety regulations worldwide. Their ESG policy therefore seems more like greenwashing to mask profits. Nevertheless, the provincial government is extending the environmental permit, despite negative advice. Has the province done everything possible to obtain maximum guarantees to protect the safety of the environment and its citizens?
Because ‘healthy economy’ and ‘well-being of citizens’ should not be contradictory concepts. A company that pursues a genuine ESG policy knows how to reconcile the two. Does this also apply to Trafigura?
“Trafigura Belgium” is (at least for the time being) no longer a Belgian crown jewel, but a multinational that takes a different view of our rules – whether in terms of the environment or corporate governance. It is time to face this fact honestly.
Subsidies and permits should not legitimize a company like Trafigura if there are no ironclad guarantees that our national rules and interests will be respected at all times.
automated translation by Deepl
