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Article: Dividend to Boliden made in same year as group threatened to close mine over pay ; Tara Mines paid [euro]118m dividend to parent group
- Article from:
- The Irish Times
- Article date:
- September 1, 2009
- Author:
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
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SWEDISH MINING group Boliden received a [euro]118 million
dividend from Tara Mines in Co Meath in 2008, the same year that it
threatened to close the Irish lead and zinc mine if workers didn't
agree to significant cuts in their pay.
Details of the dividend payment are revealed in the accounts for
Tara Mines Holdings Ltd and subsidiaries are likely to draw the ire
of workers and their union representatives at the mine, who accepted
pay cuts and changes to work practices earlier this year.
In 2007, Stockholm-based Boliden received a dividend payment of
[euro]97 million from Tara, a year when the mine recorded a pretax
profit of [euro]197 million.
This means that Boliden received [euro]215 ...