Support packages will be introduced for mine workers who were unexpectedly laid off last month.
The Boliden Group said it has “engaged in discussions with the group of unions under the auspices of the Workplace Relations Commission” and reached an “agreement on a number of measures”.
“The decision has been taken to safeguard the long-term future of the mine and the management team will remain in dialogue with employees and stakeholders throughout this period.”
SIPTU divisional organiser Adrian Kane told Newstalk these measures include a “modest retainer allowance” for those laid off and increased number of workers who will remain in the mines “on care and maintenance”.
Last month, 650 employees were temporarily laid off, with Boliden Group blaming rising bills and a collapse in the price of zinc.
Staff previously ceased working in protest on Wednesday, as Mr Kane said “the sense of anger, in terms of how the issue has been managed by management to date, has boiled over”.
“There is a guarantee that people will return to work on the same terms and conditions that they have been laid off on,” Mr Kane said following discussions at the WRC.
Mr Kane said the group will present the proposal to its members on Monday evening.
Before it ceased operating, Tara was the largest zinc mine in Europe and the eighth largest in the world.
Since extraction began in 1977, more than 85 million tonnes of ore have been mined. Stockholm-based Boliden Group acquired the mine back in 2004.