[Ireland Mining] Glencore starts drilling again at Pallas Green – by Gavin McLoughlin (Irish Independent – May 28, 2017)

http://www.independent.ie/

Mining giant Glencore has re-started drilling at its Pallas Green prospect in Limerick, the Sunday Independent has learnt.

The project had been put into abeyance for a number of years, but Glencore has moved eight rigs on to the site in recent weeks.

The company, which has had a turbulent run on the back of falling commodity prices and a large debt pile, recently declared “job done” on efforts to cut its debt. A Glencore spokesman confirmed that the company had engaged a local firm for drilling at Pallas Green.

“The objective is to better understand certain aspects of the deposit,” the spokesman said, adding that any decision about building a fully-fledged mine at the site was “a long way down the road”.

A 2013 Glencore report said that the site could potentially have as much as 42 million tonnes of recoverable resources. Lead and zinc are present there.

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