Pat Rabbitte
Question:152 Mr. Rabbitte asked the Minister for Transport, Energy and Communications total royalties paid to the State by Tara Mines in respect of ore extracted from the Navan ore body for each year since mining began.
Written Answers. - Tara Mines Royalties.
Pat Rabbitte
Question:153 Mr. Rabbitte asked the Minister for Transport, Energy and Communications the total tonnage and value of the ore extracted by Tara Mines from the Navan ore body for each year since mining began.
I propose to take Questions Nos. 152 and 153 together.
On 30 June 1989 agreements were concluded between the Minister for Energy on the one hand and Tara Exploration and Development Company Limited and Tara Mines Limited on the other for the sale of the State 25 per cent shareholding in the latter company and in respect of the State's royalty entitlement of 4.5 per cent of the profits of the company as computed by the Revenue Commissioners for Corporation Profits Tax purposes. The total consideration for the elements of value being sold was $50 million, of which $16.1 million was deemed to be in full and final discharge of all past and future royalties due to the State.
The following table shows the published figures for the total tonnage of ore extracted by Tara Mines in the years in question. The value of ore production is subject to normal commercial confidentiality and is a matter for the company to disclose if it so wishes.
|
Year |
1977 |
1978 |
1979 |
1980 |
1981 |
1982 |
1983 |
1984 |
|
Ore Production (000 tonnes) |
790 |
1,522 |
1,640 |
2,353 |
831 |
1,548 |
2,360 |
2,425 |
|
Year |
1985 |
1986 |
1987 |
1988 |
1989 |
1990 |
1991 |
1992 |
|
Ore Production (000 tonnes) |
2,420 |
2,517 |
2,489 |
2,418 |
2,464 |
2,515 |
2,628 |
2,665 |