Boliden’s 2014 Capital Markets Day: Well positioned for a market in change

Corrected version of press release. Please note that press release no:18
published this morning contained one error. The correct sentence under Organic
growth is: The new capacity is expected to come on line during the latter half
of 2017 and the investment will total NOK 350 million.

Over the course of two days, Boliden’s management will meet with financial
analysts, bank representatives and business journalists to present the company’s
strategies and the way it sees the metals market, and to visit the new
facilities in the Garpenberg zinc-silver mine – one of the most modern mines in
the world. Boliden will also, in conjunction with the Capital Markets Day, be
launching a new nickel strategy and presenting the expansion of zinc production
at the Boliden Odda smelter.
Over the last few years, Boliden has invested in efficiency enhancing
activities, in expansions and in acquisitions – all in line with the company’s
strategy. This approach has, among other things, resulted in a doubling of ore
production at the Aitik copper mine and the zinc-silver mine Garpenberg and made
the two Swedish mines among the most productive in the world today. Within
Smelters, the investment in recycling of electronic materials, have made Boliden
Rönnskär a world leader in this field.

“We have shown that we can deliver massive projects on time and on budget. Our
efforts to improve Boliden’s productivity and competitiveness will continue, in
the form of ongoing investments in expansions, bottleneck investments, and
enhanced environmental performance. The market outlook suggests that demand for
Boliden’s main metals, copper and zinc, will grow. There is currently a global
shortage of zinc mines and, at the same time, zinc smelters have high levels of
capacity utilisation and are thus enjoying healthy market conditions. We also
expect the present surplus of copper concentrate to become a shortage in a
couple of years’ time. With our investments, Boliden is well positioned for the
expected market changes,” says Boliden’s President & CEO, Lennart Evrell.

Enhanced efficiency and increased stability
Boliden will continue to work with its efficiency-enhancing and action
programmes, including those being implemented at the Rönnskär copper smelter in
Sweden. Investments in increased process stability and cost-cutting are expected
to result in improvements in the profits of SEK 275 million per annum, starting
in 2017 (base year, 2013). Boliden expects to achieve SEK 150 million of this
total improvement in 2014.

Organic growth
Capacity at the Boliden Odda zinc smelter in Norway will be increased from
170,000 to 200,000 tonnes of zinc per annum, in order to boost the facility’s
competitiveness. The new capacity is expected to come on line during the latter
half of 2017 and the investment will total NOK 350 million (Boliden Press
Release 19/2014).

The increase in production volume at the Aitik mine to 45 million tonnes of ore
per annum by 2017 has now begun. The investment of SEK 600 million already
announced relates to the replacement and reinforcement of crushers, enhanced
water pumping, and a new electrical substation for the mine’s power supply. The
planned volume for 2015 is 40 million tonnes of ore with an average head grade
for 2015 and 2016 of 0.21per cent.

Boliden’s total CAPEX in 2015 is estimated at SEK 4.5 billion.

New nickel strategy for Boliden Harjavalta
In the summer of 2015, Boliden will change the business model for its nickel
smelting operation at Boliden Harjavalta in Finland, and buy nickel concentrate
from external suppliers and sell the so called nickel matte on the global
market. Production is expected to remain at 25,000 tonnes of nickel matte per
annum (Boliden Press Release 20/2014).

The Capital Markets Day presentations
The Capital Market Day presentations will be available at
www.boliden.com/cmd2014 from 13.00 (CET). The Capital Markets Day can be
followed via a live webcast on the same website, starting at 13.30 (CET).


For further information, please contact:
Marcela Sylvander, Group Communications, +46 8 610 1630, +46 733 244551
Sophie Arnius, Investor Relations, +46 8 6101523, +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 a turnover of SEK 34 billion.
Its shares is listed on NASDAQ OMX Stockholm, segment Large Cap.
www (http://www.boliden.com).boliden.com (http://www.boliden.com)