Tara placed under care and maintenance

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06/13/2023 - 07:31 PM EDT

Due to a combination of factors, the Tara mine in Ireland will be placed under care and maintenance. The decision means that production and exploration ceases temporarily at the mine.

STOCKHOLM, June 13, 2023 /PRNewswire/ -- The Tara zinc mine in Ireland is a high-cost mine with approximately 650 employees. Boliden is working actively to extend the life of the mine in parallel with ensuring its competitiveness. The business is currently cash flow negative, due to a combination of factors including operational challenges, a decline in the price of zinc, high energy prices and general cost inflation. Tara will therefore be placed under care and maintenance until further notice.

The decision means that production at the mine ceases and that the workforce is temporarily laid off until conditions of the operation improve.

For further information, please contact:
Klas Nilsson, Director Group Communications, phone: +46 70-453 65 88
klas.nilsson@boliden.com

For Irish media:
Gavin McLoughlin/Claire Rowley, Drury
gavin.mcloughlin@drury.ie/claire.rowley@drury.ie
+353 86 0353749/ +353 87 2695014

Boliden is a metals company with a focus on sustainable development. Our roots are Nordic, our market global. Our core competence lies within the fields of exploration, mining, smelting and metal recycling. Boliden has around 6,000 employees and annual sales of approximately SEK 85 billion. The share is listed in the Large Cap segment on NASDAQ OMX Stockholm. www.boliden.com

The following files are available for download:

https://mb.cision.com/Main/997/3786349/2125628.pdf Press release (PDF)

View original content:https://www.prnewswire.com/news-releases/tara-placed-under-care-and-maintenance-301850173.html