'Perfect storm’ in zinc market caused Tara Mine closure - CEO

📆 14/06/2023 8:14 a. m.
📰 businessposthq

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Mine announced temporary closure yesterday, in a move that will cost 650 jobs and impact 2,000 people in Navan area

Gunnar Nystrom, the CEO of Tara Mines in Co Meath, has said the decision to temporarily close and lay off up 650 workers was done in the face of

“tremendous unsustainable losses”.Nystrom said Tuesday’s decision was a necessity to safeguard the future of the company and stem the cash flow out of the company.

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Tara Mines temporarily lays off 650 staff, says business is cashflow negativeParent company Boliden cited operational challenges, a decline in the price of zinc and high energy prices for the move
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