Boliden to acquire Kevitsa mine in Finland

Boliden today announces that it has entered into an agreement with First Quantum
to acquire the Kevitsa nickel-copper-gold-PGM mine in Northern Finland. The
total consideration on a debt free basis is USD 712 million in cash. The
agreement is subject to approval by competition authorities.
“This is an attractive opportunity to acquire a high-quality mine with excellent
operational and geographical fit with Boliden. The acquisition of Kevitsa is
consistent with Boliden’s growth strategy. Kevitsa started production in the end
of 2012 and is an early stage mine, which we believe can provide good synergies
with our existing business in mining, concentrating, smelting and regional
exploration. It also establishes a nickel feed base load for our Harjavalta
smelter”, says Lennart Evrell, President and CEO, Boliden.

“The timing of the acquisition fits us well. Boliden has executed substantial
expansion projects in recent years and is ready to take on a new major project.
Together with the Kokkola and Harjavalta smelters and the Kylylahti mine, the
acquisition of Kevitsa will expand Boliden’s platform in Finland, an attractive
geological region”, Lennart Evrell concludes.

The Kevitsa mine is a nickel-copper-gold-Platinum Group Metals (PGM) mine
located in northern Finland. In 2015, nickel and copper accounted for roughly
40% each of net revenue, with gold, PGM and cobalt accounting for the remainder.
The mine processed 6.7 Mtonnes of ore in 2015. The mine has 380 employees and
around 200 contractors.

In 2015, production was 8,805 tonnes of nickel, 17,204 tonnes of copper, 12,847
ounces of gold, 31,899 ounces of platinum and 25,196 ounces of palladium. EBITDA
during 2015 amounted to USD 42 million and EBIT was USD -6 million.

The total consideration for the transaction is USD 712 million on a debt free
basis, paid in cash, together with adjustments for working capital and net debt
at closing. The transaction will be financed with a committed 24 month bank
facility provided by Nordea. Boliden will evaluate a range of refinancing
options for this bank facility. The transaction is subject to customary approval
by competition authorities in Finland, Sweden and Germany.

Goldman Sachs International is acting as sole financial adviser to Boliden in
connection with the acquisition.

Conference call today, 10 March at 08.45 (CET)
Boliden will hold a conference call today, 10 March at 08.45 (CET) with
President and CEO Lennart Evrell, and President Boliden Mines, Mikael Staffas.
The call will also be available as an audiocast on www.boliden.com.

Telephone no: Sweden: +46 8 5199 9355, UK: +44 2031 940 550, US: +1 8552 692 605


For further information, please contact:

Sophie Arnius, Director Investor Relations and Acting Press Officer,
tel: +46 8 610 15 23, +46 70 590 8072

The information provided comprises information that Boliden is obliged to
present pursuant to the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. The information was released for publication
on 10 March 2016, at 07:30 CET.

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 4,900 employees and a turnover of SEK 40 billion.
Its shares is listed on NASDAQ OMX Stockholm, segment Large Cap.
www.boliden.com