Reuters reported that creditors will determine in February 2011 whether to liquidate or restructure metals exporter Doe Run Peru, a unit of privately held US based Renco Group.

The overall process is being handled by Indecopi, a Peruvian regulatory agency.

Mr Pedro Sanchez Mining and Energy Minister said that "The first meeting of creditors could be held in February."

The Peruvian government had asked Doe Run to secure financing and guarantees for USD 110 million owed to creditors after a drawn out financial crisis and USD 150 million needed to finish an environmental cleanup of one of its sites.

The government cancelled the company's license to operate the sprawling La Oroya smelter in July when it had not met these conditions.

(Sourced from www.reuters.com)