Minister for Enterprise, Trade and Employment Simon Coveney has said that Tara Mines in Co Meath is in a very serious and difficult financial situation.
He was speaking following a meeting with management at the company this evening.
On Tuesday, Tara's parent company Boliden announced that the mine would temporarily close over the next four weeks resulting in the temporary laying off of 650 workers.
Mr Coveney visited the mine this evening and had what he described as a detailed and long discussion with management.
"The decisions that have been made in the last few days haven't been made easily or lightly and really at this stage what I would be asking for, and what I've asked management for, is detailed engagement between management and the union to make sure everybody is clearly in a position of understanding of where the company is financially," Mr Coveney said.
He added that his focus would be on supporting workers and their families, and finding a way for Tara Mines to reopen.
The minister also met with SIPTU, the union representing staff at the mine.
Workers have expressed their shock and disappointment over the temporary closure and have also criticised the manner in which they were informed of the decision.
Boliden said the decision was taken to safeguard the long-term future of the company in response to significant and unsustainable financial losses.
The company described the decision to suspend operations as "unavoidable" and said that the business was "cash-flow negative".
Boliden said the losses had been brought about by a combination of factors, including a decline in the price of zinc, high energy prices and general cost inflation.
Management said they could not be definitive about how long the period of suspension would last, but that the company believed it is temporary.
