Boliden Tara Mines is reporting a loss of €65 million to the end of last December with the mine now on care and maintenance since June 23. Losses would have been considerable more had production continued claimed management.
Negotiations are ongoing with the unions to find common ground but it appears management are planning a reduction in staff numbers from over 650 to closer to 400.
The high cost of production with energy prices inflicted to all was a major factor couple with low production of ore at the Navan mine.
Tara Mines General Manager Gunnar Nyström commented;
“Preliminary results for 2023 indicate that the Tara Mines entity incurred losses of €65m in 2023. This would have been substantially higher had we not temporarily suspended operations and entered care and maintenance in July 2023. External market conditions remain extremely challenging, and the current price of zinc is of major concern. This demonstrates the importance of reaching an agreement with the Group of Unions on the rescue plan proposals to enable the operation to re-open on a sustainable basis, with better protection against external market conditions. We remain in discussions with the Group of Unions and continue to work towards achieving an agreement.”