Shares in the mining company, Arcon down 20 per cent on the year to date recovered slightly on foot of the news on Tuesday that the industrial dispute at the company had been settled.
Shareholders will no doubt be interested in the company's view of how the dispute, which closed the mine in Galmoy, Co Kilkenny, for three months, will affect its long-term performance.
Somewhat surprisingly, given the significance of the deal and the fact that the dispute closed the company for so long, no union or management executive was available for comment in the aftermath of the announcement.
The deal, brokered by management and SIPTU, includes a 27 per cent pay rise for workers and a share ownership scheme for employees as well as a contributory pension scheme. It should be examined in the context of fixed costs being the only items over which mining companies have any control.
The price of the produce in this case zinc is at the whim of the market.
Arcon chief executive Tony O'Reilly junior, no slouch when it comes to working out the numbers, has stressed the importance of cost containment many times. It will be interesting to see what effect the dispute will have on the company's ability to win new contracts.
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