Boliden’s quarterly results – production stable but prices lower

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| Source: Boliden AB
Boliden’s revenues for the first quarter of the year totalled SEK 8,550 million
(SEK 9,249 m) and the operating profit, excluding revaluation of the process
inventory, fell to SEK 385 million (SEK 751 m) due to lower metal and sulphuric
acid prices.
“The aspects over which we have control – production and costs – have made good
progress during the quarter. Metal and sulphuric acid prices are, however, low
and the result as a whole was consequently weak. On the plus side, however, we
were able to begin trial runs of the new facilities at Garpenberg as early as
March and production has already begun there. The plan is to produce 2.5 million
tonnes per year at Garpenberg when the facilities are operating at full capacity
at the end of 2015,” says Boliden’s President & CEO, Lennart Evrell.

Boliden’s Board of Directors has today approved an investment of SEK 600 million
in order to enable a further expansion of the Aitik mine to 45 million tonnes
per year. The investment regards replacement and upgrading of crushers, the
strengthening of water pumping, and a new electrical substation for the mine’s
electricity supply. A new ore base calculation has been made for Aitik with an
increase in the mineral reserve to 1,085 (633) million tonnes.*

“In addition to the ongoing and new expansion projects, we are also focusing on
continued improvements to production and costs at Rönnskär. The action plan for
Rönnskär includes measures designed both to improve process stability and to cut
costs,” says Lennart Evrell.


* See updated mineral resources and mineral reserves at:
www.boliden.com/mineralreserves  (http://www.boliden.com/mineralreserves%20)



For further information, please contact:
Marcela Sylvander, Group Communications, +46 733 244 551
Sophie Arnius, Investor Relations, + 46 8 610 1523

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 a total of approximately 4,800 employees and a turnover of approximately SEK
34 billion. Its share is listed on NASDAQ OMX Stockholm, segment Large Cap.
www (http://www.boliden.com).boliden.com (http://www.boliden.com)