Pre-tax profits increase eight-fold to €18m at Tipperary mining company

A COMPANY involved in the sale of lead and zinc from the Lisheen mine in Co Tipperary recorded an eight-fold increase in pre-tax profits to $22.9 million (€17.9m) last year.

Accounts just filed by Lisheen Milling Ltd show the company recorded the 721% increase in pre-tax profits after the firm increased turnover by 6% from $196m to $208m to the end of December last.

Earlier this year, Indian company Vedanta Resources purchased the Tipperary mine, along with other bigger mines in South Africa and Namibia, from previous owners Anglo American Zinc as part of a €1.34bn deal, which estimated Lisheen’s value at $308m (€242m).