Boliden: Agreement reached to reopen Tara
BOLIDEN AB UNSP/ADR (BDNNY)
NASDAQ:AMEX Investor Relations:
boliden.com/investor-relations
Company Research
Source: PR Newswire
STOCKHOLM, May 6, 2024 /PRNewswire/ -- An agreement has been reached between worker´s unions and local management which enables the process of reopening the mine at Tara on a more financially sustainable basis.In July 2023, the Tara mine was put in care and maintenance due to a combination of factors, including negative zinc price development, overall cost level and operational challenges. An agreement between worker´s unions and local management, to significantly improve ways of work and productivity, has now been secured.The agreement includes among other things an optimized mining plan which reduces transportation distances and maximizes metal output, starting with an annual production rate of 1.8 Mtonnes, coupled with an organizational redesign, a reduction in employees and improved ways of working. Altogether, the normal cash cost of the Tara mine is expected to be reduced to approximately 100 USc/lb Zinc, compared to 137 USc/lb Zinc for the first half year of 2023. The reduction
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- Boliden to Reopen Europe's Largest Zinc Mine After Labor Deal [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Boliden to Reopen Europe's Largest Zinc Mine After Labor Deal [BNN Bloomberg (Canada)]BNN Bloomberg