Live | Norway | Sweden | Denmark | Europe | USA | Currency | Goods | Grey market | NDXDelayed quotes. Last updated: Sunday 18. February
Overview
Quotes
Indices
News
Largest trades
Subscription rights
History
Winners/loosers
High/low

14/02-2018 07:51:00: (BOL.ST, BLS.TSX) Boliden expands in Finland

Boliden has decided to expand the Kevitsa copper-nickel mine and Harjavalta copper-nickel smelter. In total, EUR 125 m will be invested until 2020.

"A few years ago we decided to invest in the copper production at Harjavalta and revise our nickel strategy. The Kevitsa copper-nickel mine was acquired in 2016 and is now Harjavalta's most important concentrate supplier. Today's investment decision should be viewed as part of the development of Boliden's overall operations in Finland," says Lennart Evrell, President & CEO.

Expansion Kevitsa
Boliden invests EUR 80 m in increasing production at Kevitsa from 7.5 to 9.5 Mtonnes per year from 2021. The investment includes a new autogenous mill and peripheral equipment, and a new mill building. The investments will be commenced in 2018 and full production will be achieved in the first quarter of 2021.

"Now that the integration of Kevitsa has been completed, it's time to take the next step. We have substantial Mineral Resources and high grades, but the concentrator's grinding capacity is limiting production. Today's decision is an important step towards maximising the value of Kevitsa," says Mikael Staffas, President Boliden Mines.

Expansion Harjavalta
Boliden invests EUR 45 m in Harjavalta and Pori in order to increase copper cathode production from 135,000 tonnes to 170,000 tonnes per year. The investments addresses bottlenecks at the Harjavalta smelter as well as an expansion of the Pori copper refinery. Boliden expects to achieve the new capacity in Q1 2020. The copper cathode refining capacity is below that of anode production, and approximately 15,000 tonnes of anode copper is currently being sold externally. Today's investment will enable Harjavalta to refine all of its anode copper in-house.

"Today's decision increases copper production and is part of a combined investment programme between 2017 and 2019 of over EUR 200 m. The investments in a new sulphuric acid plant and modernization of furnaces is ongoing", says Kerstin Konradsson, President Boliden Smelters.
 
For further information, please contact:
Klas Nilsson, Director Group Communications
tel: +46 70 453 65 88
 
 
Boliden is a metals company with a commitment to sustainable development. Our roots are Nordic, but our business is global. The company's core competence is within the fields of exploration, mining, smelting and metals recycling. Boliden has approximately 5,500 employees and a turnover of SEK 40 billion. Its share is listed on NASDAQ OMX Stockholm, segment Large Cap.

External link: http://news.cision.com/boliden/r/boliden-expands-in-finland,c2452147
External link: http://mb.cision.com/Main/997/2452147/791828.pdf

News delivered by Cision

Layout |  Help |  Print  | Change to real-time No markets open
Sunday 18/02-2018 18:37:28