Boliden Set to Reopen Tara Zinc Mine in Ireland in Q2 Next Year

Resumption of Operations Anticipated

Boliden, a prominent mining company, is gearing up to restart operations at the Tara zinc mine located in Ireland. The reopening is scheduled for the second quarter of the upcoming year, as reported by Reuters.

Background of the Shutdown

The Tara mine had previously halted its operations in June due to unfavorable financial returns following a significant drop in zinc prices, which hit a three-year low.

Tara Mine: A Key Player in Zinc Production

As Europe's largest zinc mine, Tara's operational capacity is notable, having produced 198,000 tonnes of zinc concentrate in the year 2022. The mine's resumption is expected to significantly boost the supply of zinc in the market.

Implications for Zinc Supply and Market Dynamics

The anticipated restart of the Tara mine is set to influence the zinc market notably. Analysts predict that the increased metal supply could potentially lead to an excess of refined zinc in the coming year. This development could have broader implications for zinc pricing and market dynamics globally.

Wage Negotiations on the Horizon

In preparation for the mine's reopening, Boliden is expected to engage in wage negotiations with approximately 650 employees at the Tara mine next month. This move is an integral part of the company's strategy to ensure a smooth and efficient restart of mining operations.