Boliden to Reopen Europe's Largest Zinc Mine After Labor Deal [BNN Bloomberg (Canada)]
BOLIDEN AB UNSP/ADR (BDNNY)
NASDAQ:AMEX Investor Relations:
boliden.com/investor-relations
Company Research
Source: BNN Bloomberg
Boliden mothballed the Tara zinc mine, Europe's largest, last July in response to weak prices for the metal, high energy costs and a slew of production setbacks. The company expects the deal with workers — together with falling energy prices — to bring significant cost savings, it said Friday. The restart offers a sign that calmer energy markets are starting to bring relief to some corners of European industry, after sectors from metals to fertilizer producers curbed or suspended output at the peak of the crisis. Zinc smelting company Nyrstar NV also said this week it will fire up an idled plant in the Netherlands after securing state support to help reduce costs. The Tara mine will also benefit from a recent reduction in processing fees that are deducted from the prices smelters pay for ore, Boliden said. Korea Zinc Co., one of the world's top smelters — in April agreed to a 40% cut in fees in a deal with Canada's Teck Resources Ltd., indicating increased competition for ore.
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News
- Boliden: Agreement reached to reopen Tara [Yahoo! Finance]Yahoo! Finance
- Boliden: Agreement reached to reopen TaraPR Newswire
- Boliden: Confirmation of insurance claim for Rönnskär [Yahoo! Finance]Yahoo! Finance
- Boliden: Confirmation of insurance claim for RönnskärPR Newswire
- Boliden to Reopen Europe's Largest Zinc Mine After Labor Deal [Financial Post (Toronto, Ontario, Canada)]Financial Post