Nearly 700 Tara Mines workers who lost their jobs before Christmas were told today that the mine would reopen.
Around 400 workers will soon start work at Tara Mines and the remaining 270 will start when production begins again in June at the site in Navan, County Meath.
The announcement came after talks at the Helsinki headquarters of the mine's Finnish owners Outokumpu.
The company said that the favourable price of zinc on world markets had secured the jobs. The company said a feasibility study made on the improvement program confirms that Tara has the potential of being a cost-effective, very profitable and long- term operation.
The company said it is particularly pleased with the agreement with the mine’s employees concerning the extension of the current labour agreement until the end of 2003.
During the restart program the number of employees on site will increase from the current 140 to over 400. The total workforce of the mine when in production is some 670.
The implementation of the program will start with immediate effect. The pre-restart investments are estimated to total €15 to 20 million.
The mining community in the area was devastated by the closure in November last year, but Tara Mines chief executive Mr Eero Laatio said that a new study had shown the mine to be "a feasible and profitable operation for a long term basis".
He added: "There has been a significant improvement in the zinc price already and we are just looking for the sustainable trend upwards and we are ready to go."
He said that the life of the mine could last beyond 2015. A spokesman for SIPTU said he believed the good zinc price would continue.
And Mr Oliver Shanley of Navan Chamber of Commerce added: "It is brilliant. I am delighted with the news for the Navan area and for the workers themselves."
Additonal reporting by PA
