Tara mines management to submit reopening plan

Management at Tara Mines will submit a proposal for the re-opening of the mine to its Finnish owner on March 15th.

The mine was closed in November last year and 700 workers were temporarily laid off because of a fall in global zinc prices.

In a statement today the company said: "The zinc metal market has remained weak and is generally seen to continue to be uncertain during the first halt of 2002 at least.

"However, due to a significant number of mine closures the zinc concentrate market is moving into deficit, and this is expected to result in better terms for mines," it said.

The company said a review had indicated the mine had the potential to be "a low cost and long term viable operation".

If Finnish owners Outokumpu agree to the company’s proposals the mine could resume full production in June of this year.