Exploration company Providence Resources saw its revenue for last year fall 15% to just over €21m, due to lower commodity prices and the impact of hurricanes on production.

The Minister for Communications, Marine and Natural Resources, Noel Dempsey, announced today that consultants CDM have been appointed to carry out a major study for the management and remediation of the Avoca mining area.

Exploration company Providence Resources has said it aims to raise just over €10m through the issue of 338 million new shares in a share placing.