DRC_2011_SustainabilityReport

Driving Sustainability

2011 Sustainability Report

Driving Sustainability, the theme of our 2011 Sustainability Report, reflects two major, companywide efforts under way in 2011: the development of Sustainability Principles to guide the organization, and an internal focus on ensuring our employees understand our vision, mission, values and business strategy.

Our 2011 report follows Global Reporting Initiative (GRI) application level C guidelines, set by an international governing body. We invite you to read more about what we hope to accomplish and our commitments to our employees, shareholders, communities and other stakeholders in the stories within.

Cover Story: A Clear View of Sustainability

What does it mean for Doe Run to become more sustainable? We contemplated that question and have been moving toward increased sustainability for several years. In 2011, Doe Run assembled a team to develop a sustainability framework, and establish eight Sustainability Principles. These principles provide the clarity the company needs to answer that question well into the future. Page 5

Message from the CEO and COO . . . . . . . . . . . . . . . . . . . 1

Organizational Profile . . . . . . . . . 2

GRI Index (According to GRI G3.1 indicators) . . . . . . . . . . 28

Social

Doe Run’s success is dependent on the support of various stakeholders. Our employees and communities are two groups critical to our success. We’ve outlined our efforts to collaborate with community leaders and employees to meet our social responsibilities.

Envisioning a New Future . . . . . . 9

Empowering Employees . . . . . . . 12

Economic

What does it take to create value? Innovation is certainly a part of it; talented employees are another key to economic vitality. The stories below share how Doe Run generates value.

Redefining Our Business Strategy . . . . . . . . . . . . 15

Driving Innovation Beyond Lead . . . . . . . . . . . . . . . 18

Environmental

We inhabit one earth. The minerals we mine are vital to society in so many ways. Recovering minerals and recycling metals in a responsible manner is important to all of us.

Building a Cleaner Future . . . . . . 21

Rethink, Restore, Revitalize . . . . 25

On the cover: As part of Doe Run’s Sustainability Principles, employees strive to effectively manage water used in the company’s operations.

Message from the Chief Executive Officer and Chief Operating Officer

Building a Strong Organization from Within

Welcome to Doe Run’s third sustainability report, a progress report on our efforts to operate more sustainably by balancing our social, environmental and economic responsibilities. The phrase, making tomorrow better than today, has been a part of our culture for decades, and reminds us never to be satisfied with our achievements.


Successful businesses have, at their core, the goal of sustaining the organization long term. In 2011, we supported that goal by establishing eight Sustainability Principles to guide our future actions (see pages 5 – 7).

Broader Trends

Strong metal prices in 2011 helped the industry rebound from the economic downturn. Global demand for lead continued to grow, and the auto market saw improvements. However, projected global growth rates were tempered by economic instability around the world.

Our Vision

Doe Run’s vision is to be stewards of the mineral resources in our care while providing premium services and products to people who share our belief in enhancing the quality of life. We have established values and goals that drive us toward this vision. In 2011 and early 2012, we shared our vision, mission, values, strategy and goals with all employees in a series of meetings and workshops (see pages 15 – 17).

2011 Highlights

Doe Run made progress on many projects in 2011, several of which are highlighted in this report.

• We completed a two-year pilot water treatment project, and installed new water collection and pumping facilities at two mines, as part of our effort to improve water management (see page 21).

• We initiated work at our secondary smelter to equip the plant to meet new standards for sulfur dioxide emissions (see pages 6 and 21).

• We continued work with Herculaneum-area leaders to envision a new purpose for Doe Run property in Herculaneum (see pages 8 – 9).

• We spent more than $47 million on environmental and remediation projects (see pages 21 – 22 and 25 – 27).

Our Priorities and Challenges

Looking ahead, we must carefully manage our commitments; delivering on promises we have made while striving to expand our business in a capital-intensive industry. Our exploration activities must increase to meet the global demand for metals, and the important products these provide for our vehicles, our medical and technology fields, our homeland security and more.

Our workforce is crucial to our success. We must ensure our educational institutions are preparing the next generation of professional and skilled workers. In addition, we must improve our outreach and communication to all stakeholders so they understand why the lead, copper, and zinc concentrates and metals we provide are essential to our nation and the global economy.

In December 2013, the only primary lead smelter in the U.S., our smelter in Herculaneum, will close. Our focus in 2012 will be to help prepare our employees for new opportunities. We will also work to find a new purpose for the property, so the community of Herculaneum can prosper. We take our role in society seriously, and invite your comments.

Sincerely,

Bruce NeilPresident andChief Executive Officer

Jerry PyattVice President, North American Operations and Chief Operating [email protected]

Note: At the time of this report’s publishing, President and Chief Executive Officer Bruce Neil had retired. Jerry Pyatt has since been named President and Chief Executive Officer. Any correspondence should be sent to Jerry Pyatt.

Dedicated to environmentally responsible metal production, Doe Run

manages the lead lifecycle, including exploration, mining, milling,

smelting, fabrication and recycling. Lead is used daily to provide ignition

for vehicles, back up power for hospitals and telecommunications,

medical and nuclear protective shielding, as well as alternative energy

storage for hybrid vehicles and wind and solar power.

Exploration Mining Milling

Primary Smelting

Fabrication

Recycling

Lead Lifecycle

Organizational Profile

2 THE DOE RUN COMPANY

FARMINGTON

GLOVER

SULLIVAN

PACIFIC

MISSOURI RIVERMISSOURI RIVER ST. LOUIS

VIBURNUM

MISSISSIPPI RIVER

MISSISSIPPI RIVER

HERCULANEUM

Fabricated Products Inc.

Fabricated Products Inc. (FPI) is a wholly owned Doe Run subsidiary. FPI’s Vancouver, Wash., location primarily produces lead oxide for the manufacturing of lead-acid batteries. Lead metal fabrication takes place at the Casa Grande, Ariz., location. The facility produces sheet lead for roofing; lead shielding to block sound waves, X-rays and nuclear radiation; storage containers for radioactive waste; lead anodes for copper and zinc electrowinning; bullet materials; and specialty extruded shapes. Annually, FPI manufactures 30,000 tons of lead products.

Bill Wold, General [email protected]

Buick Resource Recycling Division

The Buick Resource Recycling Division (BRRD) serves the battery manufacturing industry with the capacity to recycle and recover more than 160,000 tons of refined lead and lead alloys from more than 13.5 million recycled lead-acid batteries annually. Since opening in 1991, BRRD has served as one of the world’s largest single-site lead recycling centers and helps complete the lead lifecycle. Other recycled materials include ammunition, submarine ballasts, lead-bearing glass and lead-based paint chips.

Steve Arnold, General [email protected]

DOE RUN HEADQUARTERS

Southeast Missouri Mining and Milling Division (SEMO)

Primary Smelting Division

Buick Resource Recycling Division (BRRD)

Fabricated Products Inc. (FPI)

Southeast Missouri Mining and Milling Division

The lifecycle of lead starts with exploration, which has helped to identify and locate the six operating underground mines of the Southeast Missouri Mining and Milling Division (SEMO). Here, ore containing lead (galena), zinc (sphalerite) and copper (chalcopyrite) is located, blasted, hauled, crushed and hoisted to the surface, then concentrated at Doe Run’s four mills. In southeastern Missouri’s Viburnum Trend, mining and milling has taken place for more than 50 years and produces approximately 250,000 tons of lead concentrates annually.

Steve Batts, General [email protected]

Locations


The transformation of lead concentrates into some of the world’s purest lead takes place at the Herculaneum, Mo., smelter, operating since 1892. The facility receives concentrates from Doe Run’s SEMO division and begins the process of converting lead concentrate into lead metal as “primary lead” (versus recycled lead). Lead concentrates are smelted and refined into pure lead metal and lead alloys. The copper and zinc concentrates are sold to other metal producers. (Doe Run’s Primary Smelting Division also includes the Glover facility, which has ceased operations as a primary smelting facility. A portion of it continues to function as a warehouse and transloading facility.) Herculaneum produced 129,905 tons of finished lead metal and alloys in 2011.

Gary Hughes, General Manager [email protected]

2011 SUSTAINABILITY REPORT 38 Additional content online at sustainability.doerun.com

The concept of sustainability is not new to Doe Run. After all, Doe Run’s mantra of “making tomorrow better than today” has been around for decades. In 2011, Doe Run went through a rigorous process to arrive at its list of Sustainability Principlesand make recommendations for how each will be measured.



A Clear View of Sustainability

What does it mean for Doe Run to become more sustainable? Doe Run had been contemplating that question and moving toward increased sustainability for several years. In 2011, Doe Run took a major step forward and assembled a team to develop a sustainability framework.

After several months of internal work, the company established eight Sustainability Principles to provide the clarity needed to answer that question well into the future. These principles, shown on page 7, guide how Doe Run approaches its business.

“Taking our philosophy and articulating it with principles, measurements and goals is a significant step,” said Gary Mard, treasurer and controller, and Sustainability Principles Team project leader. “We want those who are inside and outside the organization to know when we talk about a commitment to sustainability, we are looking at our company from across the entire organization.”

Laying the Groundwork

Doe Run assembled a cross-functional employee team to consider how to approach defining the company’s Sustainability Principles. Seven team members from Environmental, Legal, Communications, Financial, Operations, Supply Chain and Geology committed about 15 percent of their time in 2011 to the effort.

One of the team’s first tasks was to talk to key stakeholders, including employees, customers, vendors, community members, and nongovernmental organizations, to understand their expectations for sustainability.

“We learned that there was a wide variety of understanding and expectations for how a company should approach its social, economic and environmental responsibilities,” said Mard. “We also learned we needed to take a comprehensive and balanced approach. Having a cross-functional team helped us think through principles that would create the right framework for our future efforts.”

By November 2011, the team had proposed the eight principles and the indicators, metrics and targets that would guide the company’s progress.

Doe Run now uses its Sustainability Principles as a lens to view and evaluate business opportunities.

For example, employees who propose major projects for upcoming years must include how the proposed project will help deliver on one or more of the company’s social, economic or environmental responsibilities. Adding this requirement to the approval process encourages each employee to approach a project with a holistic view, and better enables leadership to make decisions that will benefit the company, environment and community.

Sustainability: This logo represents Doe Run’s commitment to the three pillars of sustainability detailed on pages 6 – 7.

“ Having a cross-functional team helped us think through principles that would create the right framework for our future efforts.” — Gary Mard, treasurer and controller


Cover Story

Social Principles

In order to help Doe Run identify and understand the communities’ values, interests and concerns, the company initiated a plan to conduct community surveys (slated to start in 2012). The results of the survey will

help Doe Run better plan its community outreach efforts.Doe Run also surveys employees to help identify

opportunities for improved communication about the company’s business operations, and to obtain employees’ responses to workforce issues. These surveys help provide insight for improved employee relations, and health and safety performance.

“Our employees drive our business, so it is critical that we work together toward our future,” said Mard.

Economic Principles

Doe Run provides fair wages to employees, taxes to its communities, revenues to business partners, returns to shareholders, and valuable products to customers. The company also generates economic vitality for the region.

The goal is to continue to be an economic engine to the communities in which Doe Run operates, and to other stakeholders, well into the future.

Environmental Principles

Doe Run recognizes its success relies on the effective stewardship of natural resources. Environmental efforts center on meeting air, land and water standards, increasing recycling of lead-based products, and responsibly

managing natural resources.

Acting on Principles

In 2011, the Buick Resource Recycling Division (BRRD) followed the company’s sustainable approach for determining how to meet more stringent National Ambient Air Quality Standards (NAAQS) set by the Environmental Protection Agency (EPA) for sulfur dioxide and lead.

The BRRD team tackled the challenge through a sustainable approach, looking at what controls would meet the environmental requirements and also address occasional odor concerns. Any control strategy also had to be cost-effective.

This holistic approach resulted in a transformational change to the process BRRD uses to recycle lead-acid batteries. Following multiple community meetings and research, BRRD identified a dry lime scrubber that will

successfully reduce air emissions, while also eliminating sulfur dioxide odors. Scrubber systems control air pollution by capturing a gas, like sulfur dioxide, before it can be released.

The team also needed to determine how daily work practices would change when the new air scrubber went into use. After working with employees to establish new procedures, BRRD employees received training on the new process. The new equipment will go into use in 2012.

“Too often we work in silos,” said Steve Arnold, general manager, BRRD. “As we went through the process overhaul at BRRD, it was critical to collaborate across the plant, and obtain feedback from our communities, to make the revisions and ultimately drive the changes necessary to find a solution for all of us. It was a lot of work, but well worth it in the end — and proof of what is possible when we all work together.”

“Committing to sustainable operations is fast becoming a necessity for businesses to operate,” added Mard. “In 2011, Doe Run committed to an actionable plan to integrate its new sustainability framework throughout the organization.”

Dry Lime Scrubber: Installation of a dry lime scrubber at BRRD began in 2011. It’s one part of a major process change to improve environmental performance at the recycling facility by reducing emissions.

Cover Story


At The Doe Run Company, we are committed to sustainability. We balance

social, environmental and economic considerations in our business decisions,

and we strive for continuous improvement in each of these areas. Our goal is

to achieve leading industry standards of health, safety and the environment, and

to contribute to the sustainability of communities where we operate. We engage

with our stakeholders in open dialogue, and commit to review our performance

and report it publicly.

● We will respect community values, priorities and interests in our business decisions.

● We will provide enduring benefits that enhance our communities.

● We will protect the health and safety of our employees, contractors and communities.

● We will respect and invest in our people.

● We will maximize the economic benefits we provide to our stakeholders.

● We will minimize the impact of our operations on the environment.

● We will take a leadership role to improve the recycling rates for our products and the materials used in connection with our processes.

● We will provide effective stewardship of the minerals we extract and the energy and water we use.

Sustainability Policy StatementP

ILLA

RS

Social Economic Environmental

PR

INC

IPLE

S


Driving Social Commitment2

5

3

1

4

Site of new bridge across Joachim Creek in Herculaneum, Mo.

1. Bridge Groundbreaking: In October 2009, Herculaneum community leaders broke ground on a bridge crossing Joachim Creek on land donated by Doe Run.

2. Riverview Commerce Park: Preliminary plans to repurpose Doe Run’s Herculaneum smelter site encompass approximately 450 acres of land for redevelopment.

3. Bridge Construction: Construction progressed in 2010 and 2011 on the 340-foot bridge in Herculaneum.

4. Collaboration: Doe Run’s Chris Neaville shares information on the proposed redevelopment of the smelter property.

5. Renewable Energy: One proposed concept for redeveloping the site is a port. Another idea includes renewable energy-related businesses.


Social

Envisioning a New Future

For more than 140 years, Doe Run and its predecessors have provided lead metal manufacturing jobs and infrastructure to support the local area. As Doe Run prepares to close its Herculaneum, Mo., smelting operations at the end of 2013, the company is working diligently with area leaders and communities to help give the site a new future.

“We are proud to be a partner to the community of Herculaneum,” said Gary Hughes, general manager, Primary Smelting Division. “As we approach the closure of our Herculaneum smelter, we are working with our community partners to determine what Doe Run can help put in place so that the site can remain economically beneficial to the community. It will take all of us working together to create that future.”

Working Together

Doe Run, the city of Herculaneum and community members have spent more than a decade on the planning and construction of a new bridge across Joachim Creek in Herculaneum. The bridge will give emergency vehicles better access to the south side of Herculaneum, provide easy access to Highway 55, and also divert heavy-duty truck traffic from residential streets.

In October 2009, Herculaneum broke ground for the bridge on land donated by Doe Run. The city made great progress on construction in 2010 and 2011, and plans to open the bridge in 2012.

“The bridge project is a great example of how public and private organizations can successfully work together to find solutions for our communities,” said Hughes. “In the future, we envision that this bridge will provide access to a vibrant port and industrial center.”

A New Purpose

Herculaneum residents and community leaders have rallied around the idea of repurposing the Doe Run smelter site into a Mississippi River shipping port. Working in partnership with the Jefferson County Port Authority, Doe Run invested $336,655 to support Phases I and II of the Jefferson County Port Study. In 2011, Phase II findings and a master plan estimated a Herculaneum port could create as many as 1,971 permanent jobs and 4,075 construction-related jobs in Jefferson County.

In addition to the Mississippi River port, potential plans to revitalize the site include commercial material distribution and renewable energy production. Doe Run is pursuing a renewable energy park designation that, if granted, could help attract a renewable energy business to the site. A conservation area and trail system has also been proposed along Joachim Creek.

“Our vision for repurposing Doe Run’s Herculaneum property is not only to bring new jobs to the area,” said Chris Neaville, who grew up in Herculaneum and now serves as Doe Run’s asset development director, guiding the redevelopment of the smelter site. “We want to provide an opportunity for economic growth, community benefit and environmental stewardship to intersect.

“We’ve tried to incorporate environmentally sustainable elements, like green spaces, in the potential uses for the Herculaneum site,” added Neaville. “Conceptual plans related to the smelter closing also include possible community projects, like solar panels for Herculaneum High School, which could provide energy cost savings to the school and educational opportunities for students.”

Riverview Commerce Park Update

In March 2012, Riverview Commerce Park LLC, a development group made up of St. Louis-based Environmental Operations Inc. and J.H. Berra Construction, announced its intent to purchase and develop around 450 acres of land, including the current Doe Run Herculaneum facility, known as Riverview Commerce Park.

“ We want to provide an opportunity for economic growth, community benefit and environmental stewardship to intersect.”— Chris Neaville, asset development director


Doe Run believes in being connected to the communities in which it operates. The company works

to identify common goals with stakeholders and communities to ensure efforts meet the needs of

nearby areas and have lasting benefits. Doe Run donated $213,549 to its communities in 2011.

EnvironmentalThe Southeast Missouri Mining and Milling Division (SEMO) and Buick Resource Recycling Division (BRRD) regularly collaborate to host community meetings. In 2011, these gatherings focused on environmental changes at BRRD and SEMO. Community meetings give Doe Run the opportunity to share progress, plans and challenges, gather residents’ feedback, and provide a channel for future communication. The meetings also give area leaders a chance to discuss other community issues, and how Doe Run may help address those challenges.

EducationDoe Run places a strong emphasis on education. In 2011, the company continued its tradition of educating students and neighbors about the past, present and future of the mining and metals industries.

Old Miners’ DayThis Viburnum, Mo., celebration honors the many generations of Missouri miners. SEMO employees help organize festivities each October. Doe Run also provides public tours of its underground

mines to familiarize residents with a real-life mining environment.

Missouri University of Science and Technology Doe Run donated a total of $250,000 in 2010 and 2011 to the Department of Mining and Nuclear Engineering at Missouri University of Science and Technology (Missouri S&T), the alma mater of many Doe Run employees. The donations went toward the construction of a new mine engineering building. Doe Run also collaborated with Missouri S&T to host 60 high school students for an Explosives Camp.

ScholarshipsDoe Run supports the education of students pursuing degrees in engineering, chemistry, geology, mining or geosciences. More than $14,900 in scholarships was awarded to students in 2011.

Backpack ProgramsBRRD donated more than $4,000 in 2011 to school backpack programs that provide food and other supplies to needy families.

Public SafetyDoe Run regularly contributes to organizations that provide vital emergency services to the company and community.

In 2011, BRRD and SEMO donated $3,000 to support the Viburnum Emergency Response Team’s (VERT) first-responder training. BRRD also donated $3,000 to the Dent County Sheriff’s Department for equipment to improve officer safety during investigations.

A $24,500 donation to Iron County Hospital made it possible to purchase a state-of-the-art Steris System 1E™ sterilizer for an operating room in early 2011, making Iron County the first hospital in the United States to receive the product. Doe Run has donated a total of $74,500 to Iron County Hospital since the facility opened in 2007.

(1) Other environmental impact and community development efforts are mentioned throughout the report. See pages 21 – 27 for environmental impact assessments. See pages 8 – 9 for additional community development and engagement.

Responsibility Runs Deep (SO1)(1)

Fall Rocks: Each year, the Missouri Department of Natural Resources hosts Fall Rocks! at the Missouri Mines State Historic Site. Doe Run co-sponsors the event that teaches area residents about Missouri’s rich mining history. Kids participate in hard-hat decorating, chocolate chip cookie mining, minerals trivia, and other activities led by Doe Run employees.


2011 SUSTAINABILITY REPORT 11

Division (LA1)

(number of employees) 2009 2010 2011(2) Male(1, 2) Female(1, 2)

Southeast Missouri Mining and Milling Division (SEMO), 730 826 862 783 79including remediation and demonstration plant

Primary Smelting Division (Herculaneum and Glover) 310 289 289 274 15

Buick Resource Recycling Division (BRRD) 292 292 295 271 24

Corporate Headquarters 73 74 72 42 30

Fabricated Products Inc. (FPI) 43 41 41 37 4

Total Number of Employees (includes internal temporary Doe Run employees) 1,448 1,522 1,559 1,407 152

Employment Type (LA1) (number of employees) 2009 2010 2011 Male(1) Female(1)

Hourly (2) 1,057 1,096 1,119 1,098 21

Salary (2,3) 391 407 420 312 108

Temporary (on Doe Run payroll) 0 19 20 17 3

Employment Contract (LA1) (number of employees) 2009 2010 2011 Male(1) Female(1)

Contracted employees (4) 5 5 6 6 0

Full or part-time Doe Run employees not under work contract (5) 1,429 1,503 1,556 1,424 132

Workforce Summary

2011 New Employee Hires by Gender (LA2) (1, 6) Male Rate Female Rate

Total number and rate of 88 91.67% 8 8.33%new employee hires entering employment during the reporting period broken down by gender.

2011 Employees Leaving by Gender (LA2) (1, 6) Male Rate Female Rate

Total number and rate of 80 95.24% 4 4.76%employees leaving employment during the reporting period broken down by gender. (7)

2011 New Employee Hires by Age Group (LA2) (1, 6) Total number and rate of new employee hires entering employment during the reporting period broken down by age group.

Total Number Rate

30 or younger 41 42.71%

31 to 40 22 22.92%

41 to 50 23 23.96%

51 and above 10 10.42%

Total 96

2011 Employees Leaving by Age Group (LA2) (1, 6)

Total number and rate of employees leaving employment during the reporting period broken down by age group.(7)

Total Number Rate

30 or younger 12 14.29%

31 to 40 16 19.05%

41 to 50 20 23.81%

51 and above 36 42.86%

Total 84

2011 New Employee Hires by Region (LA2) (1, 6) Total number and rate of new employee hires entering employment during the reporting period broken down by region.

Male Rate Female Rate

SEMO 47 87.04% 7 12.96%

Primary Smelting Division 23 100.00% 0 0.00%

BRRD 15 93.75% 1 6.25%

Corporate Headquarters 3 100.00% 0 0.00%

FPI 0 0.00% 0 0.00%

Total 88 8

2011 Employees Leaving by Region (LA2) (1, 6) Total number and rate of employees leaving employment during the reporting period broken down by region.(7)

Male Rate Female Rate

SEMO 36 4.28% 1 0.12%

Primary Smelting Division 26 9.00% 0 0.00%

BRRD 15 5.08% 1 0.34%

Corporate Headquarters 3 4.17% 2 2.78%

FPI 0 0.00% 0 0.00%

Total 80 5.13% 4 0.26%

(1) 2011 numbers report workforce broken down by gender according to G3.1 Guidelines.

(2) Excludes consultant employees, individuals working for temporary agencies and three contract employees not on company payroll.

(3) 2011 total excludes three contract employees not on company payroll and includes three employees under employment agreement on company payroll.

(4) Employees under a contract (Doe Run defines employees under a contract either as consultants or those under an employment agreement). Includes three contracted employees not on company payroll and includes three employees under employment agreement on company payroll.

(5) Includes those on leave of absence.(6) Does not include hiring or termination of temporary employees.(7) The turnover rate is calculated by dividing the total number of terminations

in the reported calendar year by the total number of employees as of December 31.


One Million Safe HoursThe Fabricated Products Inc. (FPI) facility in Casa Grande, Ariz., surpassed 12 years without a lost-time accident in 2011 and reached one million safe work hours without a lost-time injury.

Sentinels of SafetyThe Mine Safety and Health Administration and National Mining Association’s Sentinels of Safety Award is the highest safety honor in the U.S. mining industry. In 2011, the Sweetwater Mine and Mill received a Sentinel of Safety award.

8 View more at sustainability.doerun.com.

Empowering Employees

Doe Run employees carry out the company’s commitment to making tomorrow better than today. To achieve success, employees are empowered through robust company development and safety programs.

In 2011, Doe Run launched its online Learning Management System (LMS), making a significant stride forward in the data collection and documentation of its training programs.

The program manages how Doe Run:

• Identifies training opportunities.

• Establishes a learning program specific to a job function.

• Determines training courses and materials.

• Guides employees through the learning process.

• Documents training.

• Evaluates training success and employee development.

“Learning is a process,” said Pat Garey, talent manager. “Effective training provides the opportunity to apply the skills on the job and receive feedback on performance.

“The Learning Management process helps us guide employees through each step, including identifying goals, applying skills and evaluating results to continue improvement,” added Garey.

Through the online LMS, critical courses can be offered via computer, which can be more efficient than waiting for a group class to be offered. The company will begin tracking learning hours and results in 2012 to benchmark against standard industry practices.

The training program focuses on four key areas:

1. Helping employees perform job functions well.

2. Teaching employees standardized business processes that work toward the company’s growth strategy.

3. Developing employees’ business and leadership skills.

4. Promoting regulatory compliance.

Paths to Safety

Doe Run maintains a commitment to protect the health and safety of its employees, and has built an award-winning culture where co-workers take responsibility for the safety of one another.

For example, Doe Run received one of the highest mine safety honors in the nation in 2011, and also reduced its injury incident rate nearly 35 percent from 2008 to 2011. Doe Run continues to build upon its safety practices to proactively reduce incidents and injuries.

In 2011, Doe Run launched the Health and Safety Maturity Path, a safety management system to guide and measure progress on implementing safety and health practices. The path starts by outlining steps to

promote continued compliance with the Occupational Safety and Health Administration (OSHA) requirements.

After completing training to address regulatory requirements, the path outlines steps to incorporate proactive safety measures, such as Behavior Based Safety (BBS). BBS requires supervisors to monitor employee actions to reward safe behaviors, or provide one-on-one feedback to stop unsafe behaviors.

“Our Health and Safety Maturity Path helps us outline and log all of our safety guidelines and steps for compliance, and then identifies proactive safety measures,” said Mark Berrey, corporate director of health and safety.

“The awards we win and our decreasing incident rates tell us we’re moving in the right direction, but we won’t be satisfied until we reach our goal of industry-leading performance, and zero incidents,” added Berrey.

Awards and Achievements


Social

Safety and Health Practices: Exposed workers’ blood lead levels are kept in check through good hygiene practices like wearing proper protective gear, and regular testing, which helped to reduce average blood lead levels in 2011.

Health and Safety Performance (LA7)

Employee Blood-Lead Average

OSHA’s standard for medical reassignment of an employee is 50 µg Pb/100 grams. Doe Run sets its maximum limit at 40 µg Pb/100 grams. If any employee has a blood-lead average that reaches 40 µg Pb/100 grams, they are temporarily reassigned to other work.

2009

2010

2011

16.59

16.73

14.40

(in micrograms of lead per 100 grams of blood, or µg Pb/100 grams) 2009 (1) 2010 2011

Southeast Missouri Mining and Milling 13.60 15.00 10.39Division (SEMO), including remediation and demonstration plant

Primary Smelting Division 20.10 18.77 17.70(Herculaneum and Glover)

Buick Resource Recycling Division (BRRD) 20.13 19.55 19.41

Corporate Headquarters (2) N/A N/A N/A

Fabricated Products Inc. (FPI) 8.43 8.35 7.82

Average 16.59 16.73 14.40

Number of Employees with Blood-Lead Average Greater than 24 Micrograms of Lead per 100 Grams of Blood

Doe Run monitors and reports the number of employees with a blood-lead average greater than 24 µg Pb/100 grams in the calendar year. OSHA’s standard for medical reassignment of an employee is 50 µg Pb/100 grams. Doe Run sets its maximum limit at 40 µg Pb/100 grams.

2009 2010 2011

SEMO (3) 14 4 27

Primary Smelting Division 61 45 31

BRRD 73 55 29

Corporate Headquarters (2) N/A N/A N/A

FPI 0 0 0

Total 148 104 87

Total Lost-Time Accidents

According to OSHA, lost time is defined as a nonfatal traumatic injury that causes any loss of time from work beyond the day or shift it occurred, or a nonfatal nontraumatic illness/disease that causes disability at any time.

(number of employees) 2009 2010 2011

SEMO (4) 17 14 9


BRRD 3 3 0

Corporate Headquarters 0 0 0

FPI 0 0 0

Total number of work-related fatalities, companywide 1 0 0

Total (4) 24 18 12

Total OSHA Recordables and MSHA Reportables

Total OSHA recordables and MSHA reportables are incidents that require lost time, restricted duty, prescription medication, involve broken bones or stitches, involve imbedded matter in the eye, or burns of a defined size and severity.

(number of incidents) 2009 2010 2011

SEMO (4) 31 28 24


BRRD 14 12 13


FPI 0 0 0

Total (4) 71 59 55

Total Case Incident Rate (TCIR)

TCIR is the number of OSHA recordable and MSHA reportable incidents per 200,000 personnel hours worked. OSHA recordables are incidents that require lost time, restricted duty, prescription medication, involve broken bones or stitches, involve embedded matter in the eye, or burns of a defined size and severity.

2009

2010

2011

5.34

4.08

4.10

(average number of incidents) 2009 (1) 2010 2011

SEMO (4) 4.38 3.52 2.71

Primary Smelting Division 7.55 6.16 6.30

BRRD 5.98 3.87 4.15


FPI 0 0 0

Average (4) 5.34 4.08 4.10

(1) 2009 numbers were misstated in the 2009 Sustainability Report. The corrected numbers are reported in 2010 Sustainability Report and shown here.

(2) Employees at corporate headquarters are not tested for blood-lead average.

(3) The SEMO 2009-2010 numbers only included the number of employees with a blood-lead average greater than 24 micrograms Pb/100 grams at the end of December. 2011 numbers report the total number of employees who crossed the threshold in the calendar year.

(4) Remediation and demonstration plant recordables were not included in 2009-2010 Sustainability Reports. The corrected numbers are shown here.

BRRD changed its policy to require employees

with a blood-lead average above 24 µg Pb/100

grams to wear a full-face respirator, which

helped improve employee blood-lead levels.


Drive from Within

Drive to Success: Doe Run executives met with employees at each division to help everyone better understand the company’s mission, vision, values and strategy.


Redefining Our Business Strategy

“Studies show high-performing companies have a workforce that understands the business strategy and their role in delivering that strategy,” said Bruce Neil, president and chief executive officer. “We used 2011 as an opportunity to promote dialogue among our employees about how they personally carry out our business objectives every day.”

Doe Run redefined its business strategy in 2011 to provide a clear plan for how the company will drive change, and deliver on its commitments to stakeholders. This foundational step aligns the company and poises it for future growth. The impetus for the change came from a 2010 employee audit that revealed only 30 percent of employees reported that they knew the company’s business strategy.

The Executive Team kicked off the alignment process by concisely defining Doe Run’s mission, vision and values platform:

Doe Run’s Mission

To meet our customers’ needs for a sustainable supply of select minerals, metals and services to meet a growing world population’s changing needs.

Doe Run’s Vision

To be stewards of the mineral resources in our care while providing premium services and products to people who share our belief in enhancing the quality of life.

Doe Run’s Values

We believe we can enhance the quality of life by:

• Making tomorrow better than today.

• Demonstrating integrity in all we say and do.

• Being safe — protecting one another.

• Managing and making the most of the natural resources in our care.

• Conserving scarce resources.

• Practicing environmental sustainability.

• Innovating to improve our processes.

• Collaborating with our stakeholders.

Launching the Business Strategy

Recognizing the essence of the company’s strategy needed to be shared and understood by all employees, the Executive Team assigned the challenge to a cross-functional business strategy launch team. The team worked to develop a campaign and materials that boiled down the business strategy into five statements.

Inspired by the idea of a road map and how it is used to determine the best route to reach any destination, the team created the DRIVE business strategy acronym. The DRIVE acronym represents core tenets of the redefined business strategy that employees can easily remember and refer to in their daily work.

Dedicated to a Complete Lifecycle ApproachWe sustainably source and manage metallic minerals throughout their lifecycle.

Responsible with Our ResourcesWe are committed to being responsible with the resources entrusted to us.

Invested in Continuous ImprovementWe push ourselves to make our company more productive and our products more valuable while being responsive to our stakeholders.

Value Safety and SustainabilityWe are committed to running our operations safely, and to balancing social, economic and environmental responsibilities.

Excel at Customer SatisfactionWe offer premium services and products to customers — who share our beliefs — in order to add value to their goods.


Economic

To roll out the business strategy, Doe Run asked for feedback from internal focus groups. These employees helped Doe Run fine-tune the plan and the materials (pictured below) developed to launch the DRIVE strategy companywide.

“As part of our process, we identified employee ambassadors to share examples of how they ‘DRIVE Doe Run’ in their everyday work,” said Tammy Stankey, senior communications liaison and business strategy launch project manager. “To help employees relate the strategy to their own jobs, we featured each of their stories in a business strategy video, which was shared at our launch meetings.”

As a part of the launch meetings, the business strategy launch team, along with Doe Run executives, facilitated several roundtable discussions at Herculaneum, Fabricated Products Inc. (FPI) and the company headquarters in fall 2011. Doe Run completed its series of meetings at the Southeast Missouri Mining and Milling Division (SEMO) and the Buick Resource Recycling Division (BRRD) in early 2012.

The systematic, collaborative process used to develop and launch the business strategy was met with noticeable success.

“More than 90 percent of employees attended the DRIVE sessions, and we’ve seen real examples of how employees are incorporating their understanding of the strategy into their work,” said Stankey. “Managers and supervisors have shared several examples of how their staff has embraced the theme of ‘I DRIVE Doe Run.’ Some team members are using the message in their email signatures and in conversation with co-workers. We’re pleased with the results.”

Doe Run will gather formal employee feedback in 2012 to benchmark adoption of the DRIVE concepts and guide future communication.

“ Demand for lead will multiply as the world becomes more mobile, connected and energy dependent. To answer this call, we’re evolving into a sophisticated, dynamic company. For the business strategy to succeed, it was vital that our employees not only understood the new direction, but also believed in it.” — Jerry Pyatt, chief operating officer

“ I’m DEDICATED to a complete lifecycle approach.” — Randy Kennedy, waste water treatment

technician, BRRD

“ I’m RESPONSIBLE with our resources.” — Nick Mazzuki, general helper,

SEMO

I DRIVE Doe Run: Peer Champions helped to illustrate the different tenets of the business strategy. Posters created with these Peer Champions highlight how employees have personal responsibility to drive the company’s business success.

We sustainably source and manage metallic minerals throughout their lifecycle.

We are committed to being responsible with the resources entrusted to us.

We push ourselves to make our company more productive and our products more valuable while being responsive to our stakeholders.

We are committed to running our operations safely, and to balancing social, economic and

environmental responsibilities.

We offer premium services and products to customers — who share our beliefs — in order to add value to their goods.

DeDicateDto a Complete Lifecycle Approach

Responsible with Our Resources

investeD in Continuous Improvement

value Safety and Sustainability

excel at Customer Satisfaction


Economic

The recent DRIVE rollout reinforced what Fabricated Products Inc. (FPI) has been doing for years —

providing premium, technically advanced lead products and services for customers. FPI’s facilities in

Arizona and Washington manufacture fully customized lead-based products for Doe Run customers,

such as:

• Leadoxideforlead-acidbatteries.

• Leadsheetingforroofing.

• Leadanodestosupportcopperandzinc production.

• Nuclearmedicalshielding,andleadcasting to contain nuclear waste.

• Ammunition,weightstobalanceboats and airplanes, isolators to stabilize bridges and buildings in an earthquake, and even small weights that make cuckoo clocks tick.

The DRIVE strategy encouraged FPI employees to uncover more efficient ways to manufacture products and introduce these ideas across the division. These processes helped FPI improve product quality, turnaround time and delivery. As a result, FPI’s already impressive customer satisfaction score improved by nearly 24 percent from 2010 to 2011.

Better customer service translates to unique products that have real-world impact. FPI’s nuclear casting business serves commercial power plants and the

U.S. government by producing lead shielding for ultra-high integrity nuclear containers. These containers, weighing up to 130,000 pounds, are used for storing nuclear waste and transporting nuclear materials.

“Our fabricated lead products guard the public from nuclear exposure, shield doctors and patients from radiation, protect servicemen onboard submarines

and aircraft carriers, and even prevent leaky roofs,” said Bill Wold, general manager at FPI. “Because we are responsible with our resources and always improving our methods to manufacture the highest quality products, which are directives of our DRIVE strategy, we are able to supply valuable, truly life-protecting metals to our customers and the world.”

“ I VALUE safety and sustainability.” — Bill Miller, general supervisor,


“ I EXCEL at customer satisfaction.” — Jami Clay, customer service supervisor,

FPI

Performance with Efficiency

“ I’m INVESTED in continuous improvement.” — Ronnie Parker, surface maintenance

supervisor, SEMO

Power of Lead: Customer satisfaction drives business at FPI, a wholly owned Doe Run subsidiary. Employees manufacture customized lead-based products, and lead oxide for lead-acid batteries.


Invested in Continuous Improvement — This concept helps Doe Run spur innovation and drive its business forward. The concept is also a key element in Doe Run’s DRIVE business strategy.

In Doe Run’s 2010 Sustainability Report, the company shared the progress behind the breakthrough lead electrowinning technology that has the power to replace primary lead smelting and nearly eliminate associated air emissions.

The process encompasses three main steps:

1. Dissolving lead into a solution.

2. Passing an electric current through the solution to attract dissolved lead onto stainless steel sheets (called cathodes).

3. Recovering pure lead from the sheets.

In 2011, Doe Run’s research and development team focused on further optimizing the technology and increasing metal recovery. Through its diligent efforts, the team identified ways to more efficiently remove excess process water, and to produce the same amount of lead using fewer, yet larger, cathode sheets, which reduces the footprint of the commercial facility.

In pursuit of higher overall metal recovery, Doe Run also expanded its research to examine the potential of hydrometallurgical processing for other metals beyond lead.

By the close of 2011, Doe Run’s research team uncovered a complementary technology to recover metals typically found in Missouri lead ore — zinc, copper, cobalt, nickel and silver. The process for enhanced recovery of co-products uses a wet-chemical, closed loop process, similar to the lead recovery technology, to recover additional metals from the concentrates.

“This discovery opens up a whole new realm of opportunities for us beyond lead,” said Dave Olkkonen, research and technical development manager. “It actually enables us to potentially process different types of lead-bearing feeds from around the world because it

has the ability to recover so many high value metals. And, it can be combined or applied independently of the lead technology.”

“Both of these technologies have tremendous potential to be the ‘technologies of choice’ for sustainably processing metal-bearing primary, secondary and waste feed products worldwide,” said Jerry Pyatt, chief operating officer. “These opportunities absolutely support our growth strategy.”

To protect the science behind these technologies, Doe Run began applying for six new patents in 2011.

Project Update

On June 29, 2012, Doe Run announced it would not build the proposed first plant in Missouri. The company concluded that building a full scale plant in Missouri at the time would generate an unacceptable financial risk to the company. The company will continue to explore the opportunity to use the technology with other mineral resources, and believes the application of this technology in different circumstances will provide a positive business model.

“We continue to see a strong and bright future for Doe Run and have never been more excited about the opportunities these technologies might bring to the mining and metals industry,” said Pyatt. “If we can recover more metal using a safer, more efficient, and environmentally friendly new technology — it will not only support our business, but also our goal to be more sustainable.”

Looking ahead, Doe Run’s research and development team is examining recoveries on other concentrates and will explore how these technologies might enhance secondary lead smelting, which is vital in North America to recover lead from automotive lead-acid batteries. Doe Run is also actively expanding exploration in North America with an emphasis on copper, zinc and lead.

Driving Innovation Beyond Lead


Economic

(dollars in thousands) 2010 2011

Property Taxes 6,080 6,857

Compensation 129,108 166,300

Community Investment (2) 169 335

Environmental Spending 33,960 47,751

Research and Development 3,751 4,175

Royalties to Governments 13,228 14,880

Capital Spending (excluding environmental capital expenditures) 31,581 28,312

(1) Second year of disclosure.(2) Includes donations, scholarships and tuition reimbursement.

Doe Run, as a privately held company, retains the right to keep confidential much of what public companies are required to share. As context to the information below and for those unfamiliar with the industry, note that capital requirements for a company operating in the metals and mining industry are substantial. Revenues can vary substantially from year to year because Doe Run revenues are based primarily on commodity prices.

Financial Information (EC1)(1)

$1 billionIn Missouri, Doe Run’s operations

contribute nearly $1 billion to the state

economy (including direct spending

and employee compensation). Doe Run

employs 1,518 Missouri employees

and provides a total compensation

package that is above average for

the Missouri workforce.

Supplier Policy (EC6)

Doe Run relies on various suppliers of raw materials, as well as vendors, distributors and other service providers. Doe Run strengthens these relationships by advising its Missouri partners on company standards and their product’s role in helping Doe Run achieve its mission. By openly discussing shared goals, Doe Run can reduce costs to customers, increase productivity and improve environmental performance. These practices guided more than $186 million in spending dedicated to Missouri-based suppliers in 2011, representing 35 percent of Doe Run’s overall spending and a 5 percent increase from 2010.

Collaboration Makes the Difference

Over the years, Doe Run has learned the biggest company successes come from collaborative efforts that involve team members from across functional areas. The cross-functional team structure used during the business strategy launch stems from best practices created by Doe Run’s project management office (PMO). This award-winning group helps make Doe Run economically sustainable by helping project teams complete complex projects on time and under budget. The PMO provides tools to help project managers establish cross-functional, collaborative teams and define project mission, scope and workflow. New in 2011, the process also helps employees think through how each project connects to the DRIVE strategy and Sustainability Principles.


Driving Environmental Progress


Water Stewardship: As a part of its water management program, Doe Run monitors water quality and works to identify effective water treatment technologies to be a good steward of this valuable resource.

Environment

Building a Cleaner Future

Doe Run has dedicated decades to enhancing its environmental stewardship and minimizing its impact on the environment. In 2011, Doe Run continued that progress across the company by installing new infrastructure and expanding successful programs and training. The steps taken in 2011 will provide a foundation on which Doe Run can continue to build as a responsible steward of water, air and land for years to come.

“Our environmental progress is truly a success story,” said Aaron Miller, vice president of environmental affairs. “We’ve made great progress, but recognize that we can never be fully satisfied with where we are. We must continue to identify and implement new approaches to meet increasingly stringent environmental demands.”

Examining Water Collection and Treatment

Water is a key element to the processes at each of Doe Run’s 10 facilities — from jump-starting recycling at the Buick Resource Recycling Division (BRRD) to reducing dust in Herculaneum. Teams throughout the company installed new equipment and tested water treatment practices in 2011 as the basis for future improvement.

The Southeast Missouri Mining and Milling Division (SEMO) manages approximately 30 million gallons of water that naturally enter the mines daily. Water management is a

multi-step process. Each step is integral to Doe Run’s efforts to be a good steward of water.

For example, in 2011, SEMO began the installation of water collection and pumping stations at the Sweetwater and Casteel mines. This roughly $1.7 million investment is part of improving Doe Run’s water management infrastructure to meet more strict water discharge regulations. The installations are designed to improve the quality of water being managed underground, and may reduce the need for treatment above ground.

SEMO also has been actively conducting research that will inform Doe Run’s future water treatment practices. In 2011, SEMO completed a pilot water treatment test at its Casteel Mine.

Test results revealed that a method commonly used to treat municipal waste water could be applied to mine water to reduce the mineral content, consistent with water regulations. As a next step, Doe Run will expand its research in 2012 to gather international water treatment best practices beyond the mining industry. The SEMO team’s goal is to identify a cost-effective water treatment technology that will meet long-term environmental standards. Plans call for installing the first water treatment plant in 2013 at Brushy Creek Mine.

Improving Air Quality

BRRD also laid the groundwork in 2011 to meet stricter regulations. In 2010, the Environmental Protection Agency (EPA) set stronger air quality standards for sulfur dioxide (SO2) to be implemented in 2012.

In preparation, BRRD secured the necessary Air Construction Permit from Missouri Department of Natural Resources (MDNR), and began installing state-of-the-art technology in 2011 that decreases SO2 emissions. Doe Run expects to fully employ the technology in 2012. (See page 6 to learn more about the sustainable approach the company used to determine the right technology.)


Meanwhile, the Primary Smelting Division continued the downward trend in the concentration of lead in ambient air around the Herculaneum smelter. As of November 2011, the smelter reduced the rolling three-month average for ambient air lead concentration to below 0.6 micrograms per cubic meter of air (µg/m3). This represents a 25 percent reduction from the 2011 average level.

In 2011, Doe Run also extended its Herculaneum soil sampling program. Doe Run expanded the sampling radius from within 1 mile of the Herculaneum facility to properties within 1.5 miles of the facility. Doe Run completed soil testing at 675 properties with permission from owners. Sampling revealed soil lead levels generally continued to decline. The 2011 tests found only 1 percent of properties had lead in soil levels above 400 parts per million, the point at which Doe Run has agreed with EPA to perform remediation. By comparison, similar testing in 2006 found 21 percent of the properties were above this level.

Identifying Efficiencies and Expanding Training

Environmental stewardship is a mindset. Every day, Doe Run employees strive to identify new processes and efficiencies that minimize waste and mitigate Doe Run’s operational impact.

Doe Run’s ongoing Environmental Stewardship Workshops supplied a platform for more than 1,500 employees to learn about the company’s environmental responsibilities and share ideas to improve sustainability. For example, Doe Run’s new inter-divisional recycling initiative stemmed from these workshops. Employees now send spent motive batteries from SEMO and Herculaneum equipment to BRRD for recycling. The new recycling program provides additional raw resource (input) materials to BRRD, while reducing the waste requiring proper disposal at the other divisions. Doe Run will continue offering environmental stewardship classes as part of employee onboarding.

To further expand the employee knowledge base, Doe Run also began integrating regular environmental training for employees whose jobs involve air and water resources, or who handle waste. These employees received extra training related to water and air regulations, and Resource Conservation and Recovery Act training, which covers solid and hazardous waste.

Doe Run enhanced its environmental accountability and efficiency in 2011 as the Primary Smelting Division and SEMO adopted the automated Enterprise Task Management System (ETMS). ETMS provides a consistent method across the company for tracking Doe Run’s more than 6,000 monthly environmental tasks. ETMS identifies the person responsible for completing a task, tracks how often it must be performed and records when the task is completed.

“We’ve seen a marked difference in employees’ behavior and attitudes this year as they became more engaged in our ongoing environmental efforts, and energized about our progress,” said Miller. “Every day we’re improving our processes, and it’s great to hear employees, not just managers, say, ‘I want to do this, can I? Do I need a permit? How can I get one?’”

“ Doe Run takes its role as steward of the environment seriously. We’ve taken many measures over the past year to drive continued improvement. Employees are making choices based on training that reinforces the business strategy and sustainability. Our research and development department has uncovered more environmentally friendly production technology. And, we’re benchmarking and measuring performance at the operational level. All of these efforts intersect to lay a successful foundation for years to come.” — Aaron Miller, vice president of environmental affairs

Training: Ongoing education, like Resource Conservation and Recovery Act Training, prepares Doe Run employees to meet environmental and safety expectations. Companywide, employees completed an estimated 15,000 hours of safety training in 2011.


Environment

Materials Consumed (EN1)

SOURCE (mt) 2009(1) 2010(1) 2011(1)

Aluminum (Al) (2, 3) 11.36 10.13 6.39

Antimony (Sb) (2) 378.08 471.18 402.14

Arsenic (As) (2, 3) 100.35 98.54 103.47

Calcium (Ca) (2, 3) 121.76 109.51 114.59

Coke (3) 40,073.07 46,730.90 48,174.61

Coke Breeze (3) 895.24 1,427.54 3,485.05

Copper (Cu) (2) 109.56 30.55 12.67

Copper Sulfate (CuSO4) 768.87 881.72 1,426.78(4)

Iron (Fe) (3) 12,420.96 14,619.66 17,677.40

Lead (Pb) (2, 5) — 25,102.50 25,385.00

Lime (3) 812.97 914.68 950.29

Limestone 3,593.34 4,923.96 4,721.52

Oil and Grease 1,358.03 1,001.84 1,183.01

Ore Concentrate 139,597.59 155,515.05 157,366.27

Other Materials (3, 6) 8,146.70 8,481.04 13,595.47

Selenium (Se) (2) 7.26 9.00 8.96

Silica 3,110.90 3,615.13 3,800.02

Silver (Ag) (2, 3) 2.48 2.54 4.50

Soda Ash 17,977.15 19,497.21 18,332.39

Sulfur (S) 118.59 139.39 125.71

Tin (Sn) (2, 3) 524.90 604.98 572.91

Xanthate 140.50 130.28 187.61

Zinc (Zn) 805.76 861.67 967.18

Zinc Sulfate (ZnSO4) 4,758.95 4,704.08 4,304.53

Total 235,834.37 289,883.08 302,908.47

Direct Recycled Input Materials (EN2)

SOURCE (mt) 2009 (1) 2010 (1) 2011 (1)

Blast Furnace Material 792.88 3,655.05 3,966.21(7)

BRRD Slag (8) 5,689.86 12,183.49 15,287.88

Glover Slag 5,712.36 6,462.78 2,955.71

Herculaneum Slag 84,395.40 90,004.52 96,096.27(3)

Industrial Batteries (mt of Pb) 12,770.44 12,198.01 10,729.27

Miscellaneous Scrap Material 5.44 0.00(9) 0.00

Purchase Pb Remelt 314.79 11,190.12 7,210.30(7)

Refinery Material 8,483.08 4,633.90 5,239.90

Reverb Material 20,316.40 25,190.71 23,811.79(7)

Rotary Material 77.11 0.00(9) 0.00

SLI Batteries (mt of Pb) 81,667.49 87,801.88 90,044.44 (7)

Sweat Furnace Material 363.78 751.15 928.05(7)

Sweetner Alloy 205.02 353.80 822.82

Total (8) 220,794.05 254,425.41 257,092.64

Percentage of materials used 48.4% 46.7% 45.9%that are recycled input materials (8)

(1) Fiscal year data.(2) These materials are used as additives to final

products smelted by Doe Run. Fluctuation in yearly figures reflects changes in the product mix.

(3) Fluctuation in yearly figures reflects increased production.

(4) Increases reflect change in ore mixture and higher ore volume.

(5) Figure is from Fabricated Products Inc (FPI). The 2009 total materials consumed does not include lead consumed at FPI. FPI uses Doe Run lead to produce fabricated products.

(6) In 2011 report, niter and flocculants were added to the total Other Materials for 2009 – 2011.

(7) Fluctuation in yearly figures reflects availability of the recycled input materials for purchase.

(8) The 2011 report adds BRRD slag to the total and percentage of recycled input materials used for 2009-2011.

(9) Difference in yearly figures reflects more precision on classification of input materials.

Environmental Performance

Units and Substances Key

Metric Ton(s): mt

In 2011, the Herculaneum smelter increased its use of coke breeze to provide the heat necessary to process byproducts left over from the lead smelting process. While this increased the amount of raw materials used, the net benefit improved. It increased efficiency by processing additional lead from the byproducts and reducing waste.


Total Direct and Indirect Greenhouse Gas Emissions (EN16)

SOURCE (Energy Consumption by weight, GJ/mt Product, mt CO2e) 2009 2010 2011(1,2)

Scope 1 (direct emissions 222,000.00(3) 289,100.00(3) 308,500.00(4)

of Greenhouse Gases, GHG)

Scope 2 (emissions from 204,000.00 305,100.00 307,800.00direct purchase of energy)

Total 426,000.00 594,200.00 616,300.00

Other Relevant Indirect Greenhouse Gas Emissions (EN17)

SOURCE (by weight, GJ/mt Product, mt CO2e) 2009 2010 2011(1,2,5)

Scope 3 (indirect emissions from 7,000.00 11,000.00 14,300.00 transportation and employee commute, etc.)

Significant Air Emissions (EN20)

SOURCE (mt by type and weight) 2009(1) 2010 (1) 2011(1)

Aluminum (Al) 0.01 0.01 0.00

Ammonia (NH3) 0.26 0.22 0.29

Antimony (Sb) 0.41 0.47 0.50

Arsenic (As) 0.25 0.28 0.35

Cadmium (Cd) 0.27 0.29 0.51

Carbon Monoxide (CO) 17,805.55 17,257.22 25,659.22(6)

Chlorine (Cl) 0.15 0.00 0.00

Cobalt (Co) 0.01 0.01 0.02

Copper (Cu) 0.58 0.58 0.67

Hazardous Air Pollutants (HAP) 5.64 4.64 5.64

Lead (Pb) 33.90 36.07 43.48(7)

Nickel (Ni) 0.04 0.04 0.06

Nitrogen Oxides (NOX) 56.34 66.38 92.07

Particulate Matter (PM) (8) 191.91 214.45 184.92

Sulfur Dioxide (SO2) 19,491.75 19,631.27 17,433.73

Sulfuric Acid (H2SO4) 0.25 0.25 0.25

Volatile Organic Compounds (VOC) (9) 10.11 19.26 22.08

Zinc (Zn) 2.83 2.84 2.86

Total 37,600.26 37,234.28 43,446.65

(1) Calendar year data. All other data is fiscal year.

(2) Changed to calendar year data to be consistent with what is reported in the EPA Greenhouse Gas Report and calendar year 2011 Carbon Disclosure Project Report.

(3) 2010 numbers have been amended to include information learned about certain feed materials after publication of the 2010 GRI report. The emissions for 2009 have not been recalculated.

(4) Greenhouse gas emissions related to concentrate and sinter used at Herculaneum not included in 2009 and 2010.

(5) Increase reflects additional commuting employees.

(6) Fluctuation in yearly figures reflects availability of the recycled input materials for purchase. All air monitors are well within current standards.

(7) Fluctuation in yearly figures reflects increased production.

(8) An error occurred in reporting 2009 – 2010 particulate matter in previous reports. Correct numbers for 2011 are shown here.

(9) 2009 estimated based on EPA approved emissions factors. 2010 and 2011 data from actual stack tests.

Data is based on stack tests performed once a year. All air monitors remain well within current standards.

BRRD rebuilt its cooling chamber to increase efficiency and emission control. Due to the change, more nitrogen-rich ambient air was pulled into the smelting process and was then emitted as nitrogen oxides (NOx). By the end of 2011, the BRRD team had significantly reduced NOx levels to near historic lows.



Gigajoule(s): GJ Metric Ton(s): mt Carbon Dioxide Equivalent: CO2e


Rethink, Restore, Revitalize

Doe Run often serves as the custodian of historic lead mining sites. The land restoration process, known as remediation or reclamation, requires careful planning with state and federal organizations, collaboration with residents, clean up, and ongoing maintenance. Doe Run recently integrated an additional step to the remediation process — identifying ways to give sites a new purpose.

Exploring Innovation

“We apply our sustainability principles to reevaluate how these sites can be leveraged to benefit the community, the company and the environment,” said Chris Neaville, asset development director. “Using historic mining sites as potential sources of energy could possibly be the key to revitalizing idle lands.”

In 2011, Doe Run began discussions with MFA Oil Biomass LLC and Missouri University of Science and Technology about a pilot project that potentially could transform mine tailings sites into possible biofuel crop sites. Doe Run will plant the first test plot of Miscanthus grass in 2012 at its Mine No. 28 site.

“The energy market is changing, forcing us all to find ways to decrease our dependence on foreign oil and turn to homegrown energy sources,” said Jared Wilmes, project coordinator at MFA Oil Biomass LLC. “Using past mining sites to produce fuels and energy locally is a win-win situation: it creates jobs and, in this case, puts these otherwise unutilized properties to productive use. It takes organizations like Doe Run, who are deeply invested in their communities, to

carry out these types of projects successfully. We are excited to develop a long-lasting partnership in what we hope will be a series of renewable energy projects.”

Also in 2011, Doe Run identified a possible opportunity to develop a solar panel farm atop a remediated chat pile in Park Hills, Mo. If constructed, a solar farm could supply renewable energy to companies in the Park Hills Industrial Park. Doe Run and Missouri-based Microgrid Energy are currently collaborating on possible plans.

Progress at Historic Sites

Doe Run also made significant progress on several multi-year remediation sites, representing a more than $13.7 million investment in historic properties in 2011.

Block P, Cascade County, Mont.

Doe Run started moving waste rock at the Block P site in Cascade County, Mont., to an onsite repository in 2011. Doe Run plans to complete the movement of the rock in 2012.

Miscanthus: Miscanthus plants can thrive in challenging soil conditions. Doe Run will plant a Miscanthus test plot in southeast Missouri mine tailings (rock left over from the milling and mining process) to research the plant’s ability to restore nutrients to the soil. Mature plants can later be harvested for biofuel.



Jasper County, Mo. (Snapp, Isherwood and Jasper sites)

Doe Run is remediating three sites in Jasper County, Mo., operated by a former subsidiary, Kansas Explorations Inc. Doe Run completed soil replacement, rock cover and revegetation at the Snapp site in 2011, bringing this project to a close. At Isherwood, Doe Run worked with the landowner to decide the best ground cover to meet his needs. Doe Run plans to plant Eastern Gamma Grass in fall 2012 and complete work at the site in 2013. Planning for the third site, Jasper, is under way as well.

Leadwood, Mo.

In 2011, Doe Run completed work at the Leadwood, Mo., site. Doe Run has worked with the EPA since 2006 to carry out an approved remediation plan for the site that called for soil cover, revegetation and rock cover.

National Chat Pile, Park Hills, Mo.

Remediation efforts began in 2008 at the National Site and capping the chat pile was completed in 2011. Final rock cover is expected to be complete in 2012.

St. Joe State Park, Park Hills, Mo.

Doe Run began remediation of St. Joe State Park in Park Hills, Mo., in 2009 in coordination with the Missouri Division of State Parks. In 2011, Doe Run continued this work with construction of retention basins, and grading work. Additionally, crews covered tailings with gravel near the Powerhouse Museum.

Work continues at St. Joe to complete retention basins and grade work, and is currently scheduled for completion in 2013.

“For years, these sites sat unused, and now we are seeing true purpose and productivity returning to these areas,” said Mark Nations, special projects coordinator and remediation supervisor. “Doe Run will continue to explore uses of historic mining sites to make tomorrow better than today for the communities in which we operate.”

Commitment to a Clean Future

A strict adherence to environmental standards and planning ahead at current operations helps reduce the need for future remediation work. Using best practices learned from managing the reclamation of historic mining sites, Doe Run minimizes the need for future site cleanups with comprehensive plans that include vegetation, water drainage, covered tailings and chat, and enclosed concentrate storage areas.

Direct Energy Consumption (EN3)

SOURCE (GJ) 2009 2010 2011(1, 2)

Coke (3) 1,056,142.39 1,478,292.00 1,518,212.34

Explosives 22,189.01 35,260.15 41,175.65

Natural Gas 373,835.22 383,280.96 386,696.64

Petroleum Fuel 193,692.00 234,654.16 267,291.17

Propane 596,655.34 753,890.15 656,433.55

Total 2,242,513.96 (4) 2,885,377.42 2,869,809.35

Indirect Energy Consumption (EN4)

SOURCE (GJ) 2009 2010 2011(1,2,5)

Electricity 1,398,818.67 1,493,032.26 1,504,019.34

Propane usage decreased due to mild weather in early 2011.


Gigajoule(s): GJ

(1) Calendar year data. All other data is fiscal year.

(2) Changed to calendar year data to be consistent with what is reported in the EPA Greenhouse Gas Report and calendar year 2011 Carbon Disclosure Project Report.

(3) Coke is a metallurgical reagent, although it is shown as having an energy value.

(4) A calculation error occurred in the 2010 report for 2009. The correct number is shown here.

(5) Corporate headquarters and remediation were not included in 2009 and 2010.

Higher production and mine

development at SEMO in 2011

increased the use of explosives.


“ For years, these sites sat unused, and now we are seeing true purpose and productivity returning to these areas. Doe Run will continue to explore uses of historic mining sites to make tomorrow better than today for the communities in which we operate.” — Mark Nations, special projects coordinator and

remediation supervisor

2010 2011

Primary Smelting Division (Herculaneum and Glover) $10,831,916 $9,604,392

Southeast Missouri Mining and Milling Division (SEMO) $1,572,087 $6,377,732

Buick Resource Recycling Division (BRRD) $10,074,114 $16,068,288

Fabricated Products Inc. (FPI) $12,440 $167,848(1)

Total Capital Spending and Operating Expense $22,490,557 $32,218,260

Remediation Spending

Historic Properties $10,388,114 $13,755,078(2)

Operating Properties $1,081,321 $1,778,149(2)

Total Remediation Spending $11,469,435 $15,533,227(2)

Total Environmental Spending including Remediation $33,959,992 $47,751,487

(1) FPI began installing retention ponds at its Casa Grande, Ariz., location.(2) The 2011 report adds capital spending to remediation spending.

Total 2011 Environmental Spending — Fiscal (EN30)

BRRD began two large environmental projects in 2011 including the process change outlined on pages 6 and 21.


GRI Index

Strategy and Analysis

1.1 Message from the CEO and COO Page 1

Organizational Profile

2.1 Name of the organization The Doe Run Resources Corporation/DBA The Doe Run Company

2.2 Primary brands, products Pages 2 – 3

2.3 Operational structure Pages 2 – 3

2.4 Location of headquarters St. Louis, Mo., United States

2.5 Countries where the organization operates Page 3

2.6 Nature of ownership and legal form Doe Run is a corporation, which is an indirect subsidiary of The Renco Group.

2.7 Markets served Primary customers served include battery manufacturers in the U.S.; concentrates are sold primarily in Asia. Pages 2 – 3, 17

2.8 Scale of the reporting organization As a private company, net sales, net revenue and total capitalization is proprietary information and viewed as business confidential. Pages 2 – 3, 10, 19 (Partially disclosed)

2.9 Significant changes Page 18. Project Update.

2.10 Awards received Page 12. Additional awards can be found at sustainability.doerun.com/our-people.

Report Parameters

3.1 Reporting period 2011

3.2 Date of most recent previous report Published in September 2011

3.3 Reporting cycle Annual (Fiscal year reporting is noted where appropriate.)

3.4 Contact point [email protected]

3.5 Process for defining report content sustainability.doerun.com/report-parameters

3.6 Boundary of the report All Doe Run entities have been reported. The report is based on GRI G3.1 Level C guidelines.

3.7 Any specific limitations on the scope or boundary of the report

All sizeable economic, environmental and social impacts required for G3.1 Level C are included either in the stories or the data.

3.8 Basis for reporting on joint ventures, subsidiaries, leased facilities, outsourced operations and other entities

Data covers Missouri-based production facilities, and a subsidiary in Arizona and Washington, unless otherwise noted.

3.10 Explanation of the effect of any re-statements of information provided in earlier reports, and the reasons for such re-statement

See footnotes on page 13, 23 – 24.

3.11 Significant changes from previous reporting periods None

3.12 GRI Content Index Pages 28 – 29

Governance, Commitments and Engagement

4.1 Governance structure of the organization sustainability.doerun.com/governance

4.2 Indicate whether the Chair of the highest governance body is also an executive officer

No

4.3 State the number of members of the highest governance body who are independent and/or non-executive members

sustainability.doerun.com/governance

4.4 Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body


4.14 List of stakeholder groups engaged by the organization sustainability.doerun.com/governance

4.15 Basis for identification and selection of stakeholders with whom to engage


Glossary of Terms is available online at sustainability.doerun.com.

All information is fully disclosed, unless otherwise indicated.


Environmental

EN1 Materials used by weight or volume Page 23

EN2 Percentage of materials used that are recycled input materials

Page 23

EN3 Direct energy consumption by primary energy source Page 26

EN4 Indirect energy consumption by primary source. Primary energy sources for indirect energy include nuclear, coal, gas and oil (non-renewable), and hydro/pump storage and wind power (renewable).

Page 26

EN16 Total direct and indirect greenhouse gas emissions by weight

Page 24

EN17 Other relevant indirect greenhouse gas emissions by weight Page 24

EN20 NOX, SO2 and other significant air emissions by type and weight

Page 24

EN21 Total water discharge by quality and destination Total amounts of lead and zinc in water discharged from all Doe Run facilities were estimated at 6,500 kg and 18,600 kg, respectively, for 2011.

EN28 Monetary value of significant fines and total number of non-monetary sanctions for noncompliance with environmental laws and regulations

Doe Run paid no ($0) significant fines for noncompliance with environmental laws and regulations. Doe Run reached a landmark agreement with the EPA, which was detailed in the 2010 report. This agreement was entered by the court on December 21, 2011.

EN30 Total environmental protection expenditures and investments by type

Page 27. Environmental spending totaled $47,751,487.

Social

SO1 Local community engagement, impact assessments and development programs

Pages 9 – 10 for community development and engagement. See pages 21 – 22 and 25 – 27 for environmental monitoring and remediation.

SO8 Monetary value of significant fines and total number of non-monetary sanctions for noncompliance with laws and regulations

In 2011, Doe Run paid $277,821 in fines and non-monetary sanctions related to laws and regulations.

Labor Practices and Decent Work

LA1 Total workforce by employment type, employment contract, and region, broken down by gender

Page 11

LA2 Total number and rate of new employee hires and employee turnover by age group, gender and region

Page 11

LA7 Rates of injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities by region and by gender

Page 13

LA8 Education, training, counseling, prevention and risk-control programs in place to assist workforce members, their families or community members regarding serious diseases

SEMO employees complete 40 hours of in-depth training on Mine Safety and Health Administration guidelines upon hire. All Doe Run employees receive regular safety training throughout their careers. Companywide, it is estimated that employees took part in approximately 15,000 hours of safety training in 2011. See page 12 for additional health and safety programs.

Economic

EC1 Direct economic value generated and distributed, including revenues, operating cost, employee compensation, donations and other community investments, retained earnings and payments to capital providers and governments

Page 19 (partially)

EC6 Policy, practices and proportion of spending on locally based suppliers at significant locations of operation

Page 19

EC8 Development and impact of infrastructure investments and services provided primarily for public benefit through commercial, in-kind or pro bono engagement

Pages 9 – 10

Product Responsibility

PR9 Monetary value of significant fines for noncompliance with laws and regulations concerning the provision and use of products and services

Doe Run paid no ($0) significant fines for noncompliance concerning provision and use of products and services.


Doe Run HeadquartersSuite 300, 1801 Park 270 DriveSt. Louis, MO 63146

Southeast Missouri Mining and Milling Division (SEMO)P.O. Box 500Viburnum, MO 65566

Primary Smelting Division — Herculaneum881 Main StreetHerculaneum, MO 63048

Primary Smelting Division — Glover42850 Highway 49Annapolis, MO 63620

Buick Resource Recycling Division (BRRD)18594 Highway KKBoss, MO 65440

Fabricated Products Inc. — Casa Grande1112 VIP BoulevardCasa Grande, AZ 85122

Fabricated Products Inc. — Vancouver3201 Lower River RoadBuilding 2575 — WW#7Vancouver, WA 98660

sustainability.doerun.com

Doe Run developed this sustainability report in accordance with the Global Reporting Initiative (GRI) G3.1 guidelines. GRI’s Report Services has concluded that this report fulfills the requirement of Application Level C. See sustainability.doerun.com/gri-review for statement of verification.Doe Run joins hundreds of other organizations who have created similar GRI reports that demonstrate organizational sustainability and performance.

Products with a Mixed Sources label support the devel opment of responsible forest management worldwide. The wood comes from Forest Stewardship Council (FSC)-certified well-managed forests, company-controlled sources and/or recycled material. The recycling symbol identifies post-consumer recycled content in these products. This report is printed on paper manufactured with energy-generated renewable sources.

Doe Run received the Grand Award for Publication Excellence (APEX) from The Business Communications Report in the small office category for its “Leading Change” sustainability report, published in 2011.