asked the Minister for Industry and Commerce (a) the name of the company at present engaged in mining operations at Saint Patrick's Copper Mines, Avoca, County Wicklow; (b) the number of people employed there; and (c) on what terms this company undertook this work.
Ceisteanna—Questions. Oral Answers. - Avoca Copper Mines.
243.
An option exercisable over a period of 30 months to purchase the assets of St. Patrick's Copper Mines Ltd. was granted on 16th September, 1966, to an international consortium. On 19th March, 1969, the consortium decided to exercise the option. The company which will operate the mine is Avoca Mines Ltd. At present, the mine is being prepared for production, and I understand that about 155 men are employed there. Avoca Mines Ltd. were granted a State mining lease on 25th June, 1969, in respect of the State owned minerals formerly held by St. Patrick's Copper Mines Ltd. Particulars of this lease will be found in the half yearly report for the six months ended 30th June, 1969, furnished by me to the Oireachtas under section 77 of the Minerals Development Act, 1940.
Would the Minister be prepared to state that there is a possibility that any losses which the taxpayers sustained in the past would be recouped as a result of the activities of these people? I was never one of those who decried this venture. I told the Minister on a previous occasion that I had been reliably informed that if this mine only got a chance there were very good prospects in it. Would the Minister state whether there is a possibility of recouping losses?
I would not be able to guarantee that the royalties which would be received would amount to the State losses. I hope the royalties would recoup the losses but it would be impossible to forecast accurately that this would be so. The prospects look reasonably good and following the extension of the mine the State should recover some of the losses incurred.
I have it on the best authority that the prospects there were quite good prior to the taking over by the new group. Can the Minister tell us whether this group is going ahead?
Yes.
(Interruptions.)
My information is that there are at present 155 men employed there.