asked the Minister for Industry, Commerce and Energy if, in view of the threatened closure of Tynagh Mines, County Galway, he will now take the company into public ownership to protect employment and this valuable natural resource.
Ceisteanna—Questions. Oral Answers. - Tynagh Mines.
14.
The answer to the Deputy's question is "No". I have no reason to think that the mine's present difficulties would be more amenable to solution in a situation of public ownership.
I am of course very concerned at the possbility of closure before indicated ore reserves are fully depleted—about the end of 1980—and I am keeping in close contact with the situation.
Would the Minister give some indication of the action proposed if they decide that they are not making enough money and decide to close the mine?
That arises on Question No. 15.
It is implicit in the question.
This is what the Deputy asks in Question No. 15.
15.
asked the Minister for Industry, Commerce and Energy his plans for alternative employment in the Galway area following the expected closure of the Tynagh Mine in two years' time.
The Industrial Development Authority are in discussion with the owners of Tynagh Mines with a view to joint action to provide alternative employment for the mine workers. I am also informed by the IDA that they are actively promoting the area in the vicinity of Tynagh Mines for new industry to provide employment for workers who will be made redundant at the mines. The authority are in the course of constructing an advance factory of 24,000 square feet at nearby Loughrea, which is expected to be completed this year, and they are also negotiating with industrialists on the possibility of locating a new project in the premises in the town formerly used as a spinning mill.
The IDA have also approved grant assistance for a number of major industrial projects, with substantial job potential, for location in Galway city and other towns in the county within commuting distance of the Tynagh area. Some of these projects will provide employment opportunities for the redundant mine workers in due course.
I am sure the Minister will agree that this does not answer the question as to what is to happen if there is premature closure of the mine because they are not making enough profit.
As the Deputy appreciates, the mine will close in 1980 anyway and it is a question whether or not it will close a year or 18 months earlier than it otherwise would. I am endeavouring to ensure, so far as I can, that that earlier closure will not take place. A great deal will depend on how zinc prices move over the next six to 12 months. The company have also stated that falling productivity at the mine is a factor giving rise to some difficulty.
Seeing the company has made a fair amount of money over the last number of years would the Minister consider asking the company to lose a little and keep the mine open pending the industries which, I am glad to see, the Minister is going to put in Loughrea. There is severe unemployment in that area.
I have already asked the company to do what the Deputy suggests.
16.
asked the Minister for Industry, Commerce and Energy if he will state in respect of Tynagh Mines, County Galway: (a) the total output of the mine during its life to date; (b) the value of such output at current prices; (c) the declared net profits of the operating company to date; (d) the total amount of tax paid on such profits; and (e) the average employment provided over the period.
The total output of ore treated at the mine since it commenced operations is 7.8 million tons and average employment has been 393 men. There are 336 men employed at the mine at present.
As regards the information sought by the Deputy about the company's net profits and tax payments, it would be inappropriate for me to give this information as the company is registered under the Companies Act as a private company and as such is not required to publish its financial accounts. A valuation at current prices of the company's total output to date is not available.