Ivernia reports €8.7m loss

Ivernia West, which has a 50 per cent interest in the Lisheen zinc mine in Co Tipperary, has reported a third quarter net loss of $7.7 million (€8.7 million).

This compares with a year-earlier loss of $0.7 million and brings its loss for the first nine months of the year to $19.2 million against $3.9 million in 2000.

The company was affected by the falling price of zinc which dropped to a 13-year low in nominal terms and hit a 60-year low in real terms, after accounting for the effects of inflation.