Arcon International Resources has moved into the black, due to firmer zinc prices and an improved performance at the Galmoy mine in Co Tipperary.

"With zinc prices increasing, the dollar remaining strong and an active and highly successful exploration programme, we look forward to the future with confidence," said chief executive Mr Tony O'Reilly Jnr. The pre-tax loss was reduced to £1.3 million (1.65 million) in 1999 from £8.3 million in 1998. However, firmer zinc prices in the second half led to a profit of £1.1 million in the second six months.

Arcon added new resources to three ore bodies, which has extended the expected life of the Galmoy mine to over 15 years. Also, a joint programme with Ennex made "an exciting new discovery" some six kilometres north-east of Galmoy.