New recycling facility commissioned

Boliden’s revenues for the first quarter totalled SEK 10,321 million (SEK 10,158
m). Metal prices were somewhat lower and volumes produced somewhat higher in
comparison with the previous year. The Group’s operating profit (excluding
revaluation of process inventory) totalled SEK 1,217 million (SEK 1,500
m).

“We have seen a slight fall in demand for base metals, both globally and
in Europe, in comparison with the fourth quarter of 2011. Weak global production
meant prices were still slightly higher,” explained Boliden’s President, Lennart
Evrell.

Boliden’s mined production remained stable. Zinc and gold production
increased, but a slight fall in copper production was noted in comparison with
the fourth quarter of 2011.

Smelted copper production was down slightly but
smelted gold and silver production, in particular, rose in comparison with the
fourth quarter of 2011. Metal production rose for all metals in comparison with
the corresponding period last year.

The operating profit for Boliden’s
Business Area Mines totalled SEK 822 million (SEK 1,156 m) and the operating
profit for Business Area Smelters (excluding revaluation of process inventory)
totalled SEK 349 million (SEK 226 m).

“Production performance has continued
to be good. We have been working intensively on our expansion projects, where
everything is proceeding according to plan. The new electronic recycling
facility at the Rönnskär smelter came on line and approximately 19,000 tonnes of
electronics was processed during the first quarter, in comparison with 12,000
tonnes produced during the same period last year. The first ore from the
Kankberg mine has also been processed at the concentrator during this quarter,”
says Boliden’s President, Lennart Evrell.

Adjustments to and a reconstruction
of one of the Aitik copper mine’s crushers were carried out in February and
March in order to improve performance. The work carried out is currently being
evaluated and is showing good results. The second crusher will also be
reconstructed later during the year.

 

For further information, please
contact:
Frans Benson, Director Investor Relations, +46 8 610 1523
Marcela
Sylvander, Director Group Communications, +46 8 610 1559, +46 733
244551

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 4,400 employees and an annual
turnover of approximately SEK 40 billion. Its shares are listed on NASDAQ OMX
Stockholm, segment Large Cap, and on the Toronto Stock Exchange in
Canada.
www.boliden.com