The La Oroya complex has been operating since 1922. Centromin Peru (a Peruvian government corporation) owned and operated the smelter for 24 years prior to our purchase. Environmental oversight and regulations were either absent or not enforced. In essence, we inherited a situation more than 75 years in the making... Since purchasing the La Oroya facility in 1997, we have made significant progress in improving the quality of life for the people of La Oroya. To date: - We have reduced lead emissions by almost a third since our arrival. By the end of 2006, we expect to bring lead emissions to within Peruvian environmental guidelines. - More than $100 million has been invested to correct the decades of unchecked pollution Doe Run Peru [part of Renco] inherited from the Peruvian government and prior owners. - Since 1997, we have seen worker blood lead levels decrease by 30 percent, a testament to safety practices, facility upgrades and hygiene programs.