A Swedish mining company, Boliden, announces the reopening of the Tara zinc mine in Ireland, the largest in Europe. In July 2023, the company decided to suspend activity at this site due to high energy costs and low zinc prices. But the situation is improving and the mine should resume activity.
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The reopening of the Tara zinc mine in Ireland is expected to take place by the end of the year. Boliden, its owner, reached an agreement with three unions representing Tara Mines workers to reduce the workforce by a third, with the elimination of 150 jobs. This agreement would allow the preservation of 400 jobs, reports The Irish Times.
Savings
Thanks to this agreement, management intends to make savings, particularly in terms of operating costs. Tara is expected to increase its activity gradually, to be fully operational in January 2025. This mine is the largest zinc mine in Europe. Its exploitation began in 1977, it was bought by the Swedish Boliden in 2004. Two million tonnes of ore are extracted each year for zinc and lead concentrates, according to the mining company website.
The decline in energy prices that began in 2023 is starting to bear fruit. From metal foundries to fertilizer producers, many sectors of European industry had reduced or suspended their activity at the height of the crisis caused by the war in Ukraine. Today, as the economy improves, they are reopening. In addition, Boliden, the zinc smelting specialist Nyrstar also announced that it would relaunch the activity of one of its factories in the Netherlands.