Today, Boliden becomes a Finnish mining operator


Boliden’s purchase of the Kylylahti copper mine and of copper/nickel deposits in
the Outokumpu field in eastern Finland was completed today and sees Boliden
establish itself as both a mining and a smelting operator in Finland.
“We welcome the Kylylahti employees to the Boliden Group. The integration
process has begun and we are looking forward to working with the synergies we
see in terms of mining, metallurgy and exploration. Exploration efforts in the
area have been limited since the mid-1980s and the potential below 400 m depth
has not been explored in any detail, which is naturally very exciting,” says
Boliden’s President and CEO, Lennart Evrell.

Background:
The consideration for the transaction between Boliden and the Australian
company, Altona Mining, was USD 95 million, subject to adjustments for working
capital, net debt and net capital expenditure during the settlement period. The
acquisition has been financed by existing loan facilities and Kylylahti will, as
of 1 October, be consolidated within Boliden Mines as a fifth mining area.

The Kylylahti copper mine is located 450 km north-east of Helsinki, and has 110
employees and approximately 120 contractors. Copper accounts for 80 per cent of
the revenues, with gold, zinc and silver accounting for the remaining 20 per
cent. The mine opened in 2012 and has a production capacity of 650,000 tonnes of
ore per year. Kylylahti’s estimated operational lifespan, based on current
mineral reserves, is until 2021.

During the last published 12-month period, from 1 July 2013 to 30 June 2014,
mined production totalled 10,200 tonnes of copper, 315 kg of gold, 2,300 tonnes
of zinc, and 2,300 kg of silver in concentrate. The mine already supplies
concentrates to Boliden’s Harjavalta and Kokkola smelters for refining into
finished metals.

For further information, please contact:
Marcela Sylvander, Group Communications, +46 733 244551
Sophie Arnius, Group Investor Relations, +46 70 5908072

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 an annual turnover of
approximately SEK 34 billion. Its share is listed on NASDAQ OMX Stockholm,
segment Large Cap.

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