Lisheen Mine
Mining giant Anglo American, one of the world’s largest diversified mining and natural resource groups, has announced plans to sell off Lisheen lead and zinc mine near Moyne, Thurles, as part of their plan to save the company some €80 million in the coming year.
The mine, now in its second decade of operations and one of the largest producers of Zinc concentrates in Europe, currently employs 339 employees and is one of the major employers in North Tipperary.
Lisheen Milling’s turnover was reduced by almost 50% in 2008, following the world wide collapse of zinc prices, the credit crunch and recession.
Anglo American, took a $170 million dividend out of Lisheen Milling Limited, on 16th December last and has set aside $35.5 million in the accounts of Lisheen Milling as a provision for “closure and related costs”. These costs are expected to be incurred in 2014, at the end of the mine’s estimated life.
Leave a Reply