Boliden’s acquisition of Kylylahti approved

The shareholders’ meeting of Altona Mining Limited has approved the transaction
whereby Boliden acquires the Kylylahti copper mine, the exploration rights and
copper/nickel deposits in the Outokumpu field in eastern Finland. The Finnish
Competition and Consumer Authority has also given its approval.
“With this latest approval, all external approvals required for closing the deal
have been received. We continue to work on the remaining details and, as
previously communicated, the plan is to close the deal on 1 October,” says
Lennart Evrell, President and CEO, Boliden.

The consideration for the transaction is USD 95 million subject to adjustments
for working capital, net debt and net capital expenditure during the settlement
period. The acquisition will be financed by existing loan facilities and the
acquired operations will be consolidated as part of Boliden Mines upon closing.

Background:
The Kylylahti mine, located 450 km north-east of Helsinki, has 110 employees and
approximately 120 contractors. Copper accounts for 80 per cent of the revenues,
with gold, zinc and silver accounting for the remainder. The mine opened in 2012
and has a capacity of 650,000 tonnes of ore per year. The life of the mine is
calculated to 2021 based on current mineral reserves.

During the last published 12 months period, ending March 2014, production was
9,000 tonnes of copper, 300 kg of gold, 2,200 tonnes of zinc and 2,100 kg of
silver in concentrate. The operating profit during 2013 amounted to USD 18
million. The concentrate is supplied to Boliden’s smelters Harjavalta and
Kokkola for refining to finished metals.


For further information, please contact:
Marcela Sylvander, Group Communication, +46 733 244551
Sophie Arnius, Group IR, +46 705 908072