Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (29888)	6/3/2004 11:05:52 AM
From: Stephen O	Respond to of 39344

Boliden May Halt Zinc Output Without Labor Agreement By Simon Casey June 3 (Bloomberg) -- Boliden AB said it may stop production tomorrow at Europe's largest zinc mine, Tara in Ireland, after locking out 240 striking employees in a dispute over working conditions. Workers who started a 31 1/2-hour strike on Tuesday weren't able to return to their jobs today, said John Regan, a spokesman for the Services, Industrial, Professional and Technical Union. The union will meet with Upplands Vasby, Sweden-based Boliden to discuss the lockout at 4 p.m. Dublin time. ``We all hope that we can avoid the strike,'' Tara Mines Ltd. Managing Director Eero Laatio said by telephone from the mine in Navan, County Meath, 55 kilometers (34 miles) northwest of Dublin. Zinc production at Tara, which employs about 660 workers, will stop tomorrow if the dispute isn't resolved, he said. Boliden yesterday declared force majeure on deliveries of concentrated zinc and lead ore to other smelters, meaning it may not be able to meet its supply contracts, spokesman Ulf Soderstrom said. The company sells 60 percent of Tara's zinc and all of its lead, mostly to European smelters. Tara produced 188,000 metric tons of zinc last year, accounting for 5.6 percent of global supply. It also produced 29,000 tons of lead. Boliden shares gained 0.8 kronor, or 3 percent, to 27.8 kronor in Stockholm at 1:12 p.m. They have lost 10 percent this year, giving the company a market value of 7 billion kronor ($940 million). --Editor: Foroohar, Farr