RNS No 7623v
IVERNIA WEST PLC
1st July 1997


                   IVERNIA WEST PLC/MINORCO LISHEEN LIMITED                   
                 RECEIVE INTEGRATED POLLUTION CONTROL LICENCE                 
                       FOR THE LISHEEN ZINC DEVELOPMENT                       

Minorco Lisheen Limited and Ivernia West plc, partners in the Lisheen Mine
Project in Co. Tipperary, have today been granted an Integrated Pollution
Control (IPC) Licence for the Lisheen zinc development by the Environmental
Protection Agency.

Lisheen is the first mine project in Ireland to be granted an IPC Licence by
the EPA, and the licence conditions will ensure that the Lisheen mine will
operate in accordance with some of the strictest environmental and safety
conditions anywhere in the world.

The IPC Licence sets stringent standards for air and water quality, noise
levels and waste disposal practices at the mine.  Minorco Lisheen Limited
which is responsible for the construction and operation of the mine, will
carry out extensive monitoring during the construction, operational and
closure phases of the mine development.  The environmental monitoring data
will be available for public inspection.

Under the IPC licence terms, an Environmental Information Centre will be
established, and located outside the security perimeter of the mine, so that
members of the public can visit and review all the environmental monitoring
data.

The Managing Director of Minorco Lisheen Limited, Dr. Graham Rees said that
the Lisheen Partners were committed to operating the project to the highest
environmental standards anywhere in the world and he welcomed the proposals to
allow ongoing public access to the monitoring data.  He paid tribute to
Minorco's Environmental, Health & Safety Manager, Margaret Stokes who is
spearheading Lisheen's achievement of environmental excellence.

Minorco Lisheen and Ivernia have already spent will in excess of #2 million in
preparing an Environmental Impact Statement, establishing environmental
monitoring activities, and in funding local archaeological investigations.

The Lisheen Mine Project was given final planning permission by An Bord
Pleanala on May 30th.  Discussions are continuing with the Department of the
Marine and Natural Resources to finalise arrangements for the granting of a
State Mining Lease.  Construction work, which will take nearly two years, is
due to start within weeks.  During that phase up to 725 people will be
employed.

In the subsequent 14 year life of the mine, over 300 people will be directly
employed.  Commercial production of zinc and lead concentrate for export to
smelters in Europe and USA is expected to being during the first half 1999.

For further information contact:

Ivernia West plc
David Hough, Managing Director                       Tel: 061 319922

Minorco Lisheen Limited
Dr. Graham Rees, Managing Director                   Tel: 01 2783888
Murray Consultants
Joe Murray                                           Tel: 01 6614666

McMahon Sheedy
Stephen O'Byrnes                                     Tel: 01 6671133

END