Lisheen mine operator sees zinc profits up tenfold
ANGLO American, the company which owns and operates the Lisheen lead-zinc mine in Co Tipperary, saw its profits from the zinc business for the first half of 2006 soar almost tenfold to $208m (?160m) from $29m in the same period last year, according to an interim report issued yesterday.
Group operating profits were up 52pc to $4.6bn, the company said.
Lisheen is one of three zinc mines operated by the UK-based mining giant and accounts for about 40pc of the group's zinc output. During the half-year, production of zinc from Lisheen amounted to 79,645 tonnes, while lead production was 12,010 tonnes.
Lisheen's zinc output was slightly down on last year, the company said, owing primarily to lower ore grades.
Anglo said its base metal division achieved record operating profits of $1,854m. The huge profit surge came on the back of increased prices and record production of nickel and zinc.