Boliden's mineral resources and ore reserves show stable trend
Boliden's annual ore reserve and mineral resource calculation shows
exploration results and higher metal prices have resulted in a continued
stable trend.
“Our ore reserves and mineral resources have continued to develop
positively in 2010. Garpenberg's mineral resources have increased by 38
per cent and Aitik's have increased by 14 per cent. Ore reserves in the
Boliden Area have risen by 29 per cent. A certain decrease can be noted
at Garpenberg, Aitik and Tara but the ore reserves are continued good
levels,” says Jan Moström, President, Business Area Mines.
The primary focus of Boliden's exploration is on zinc, copper and
precious metal-bearing ores. In addition to the exploration work
conducted in the vicinity of all the mines, 2010 has seen targeted
exploration efforts carried out in the Boliden Area, Bergslagen,
Norrbotten and Dorotea in Sweden.
“We invested SEK 229 million in exploration in 2010, which, among other
things, resulted in 140,000 metres being drilled. The strategy we
developed in 2006 has generated substantial net additions to the mineral
resources and ore reserves at Aitik and Garpenberg in particular, but
also in the Boliden Area,” continues Jan Moström.
Exploration results, 2010:
Aitik
Positive drilling results in the vicinity of the open pit mines at Aitik
and Salmijärvi, as well as new geological interpretations of findings,
have resulted in a substantial contribution to mineral resources of 200
million tonnes or 14 per cent. 28 million tonnes of ore were mined
during the year, but the ore reserve has only fallen by 14 million
tonnes due to higher metal prices that enabled additional tonnage to be
included in the ore reserves. Production will, at the currently planned
rate, continue until 2030.
Garpenberg
Garpenberg's mineral resources increased by almost 11 million tonnes.
1.4 million tonnes were mined during the year, but the ore reserve
increased by the equivalent of half the production volume, mainly due to
higher metal prices. Production will, at the currently planned rate,
continue until 2030.
The Boliden Area
The Boliden Area's ore reserves increased by 2.4 million tonnes, while
mineral resources showed a 2.1 million tonne reduction as a result of
large quantities being upgraded from mineral resources to ore reserves.
Production will, at the currently planned rate, continue until 2021.
Tara
Tara's mineral resources totalled 11.9 million tonnes - on the same
scale of magnitude as in 2009. Exploration added 1.6 million tonnes to
the ore reserve, but 2.6 million tonnes were also mined during the year
which resulted in a net reduction in the ore reserve. Production will,
at the currently planned rate, continue until 2019.
A comprehensive version of Boliden's ore reserve calculations for 2010
is enclosed and has also been published in Boliden's Full-year Report
for 2010 and at www.boliden.com (http://www.boliden.com/).
For further information, please contact:
Marcela Sylvander, Director Group Communications, Boliden AB, tel: +46 8
610 15 59
Frans Benson, Director Investor Relations, Boliden AB, tel: +46 8 610 15
23
Boliden is a leading European metals company whose core competence is in
the fields of exploration, mining, smelting and recycling. Boliden's
main metals are zinc and copper. Other important metals extracted and
refined include lead, gold and silver. The operations are conducted in
two Business Areas: Mines and Smelters. The number of employees is
approximately 4 400 and the turnover in 2010 amounted to approximately
SEK 37 billion. Its shares are listed on NASDAQ OMX Stockholm, segment
Large Cap and on the Toronto Stock Exchange in Canada.
www.boliden.com (http://www.boliden.com)
Ore reserves as of 31st December 2010
Quantity Quantity
2010, ktonnes 2009, ktonnes Au
g/t Ag g/t Cu % Zn % Pb % Mo g/t Te g/t
The Boliden Area
Polymetallic mineralisations
Kristineberg Proven 1 340 1 690
1.3 24 1.3 2.1 0.1
Probable 2 800 1 500
0.6 43 0.4 7.9 0.4
Renström Proven 170 140
3.6 179 0.6 9.1 1.8
Probable 1 590 1 110
2.4 188 0.4 7.5 1.7
Maurliden Proven 1 300 1 340
1.3 51 0.2 3.6 0.4
Probable
Maurliden Östra Proven
Probable 1 060 1 200
0.6 12 1.1 0.4
Total Proven 2 820 3 170
1.4 46 0.8 3.2 0.3
Polymetallic mineralisations Probable 5 400 3 780
1.2 80 0.6 6.3 0.7
Gold mineralisations
Kankberg Proven 120
3.5 7 151
Probable 2 660 1 610
4.1 16 188
Aitik Proven 504 000 518 000
0.15 1.6 0.25 29
Probable 229 000 229 000
0.13 1.7 0.24 32
Garpenberg Proven 18 800 17 900
0.3 121 0.06 5.8 2.3
Probable 6 300 7 900
0.2 217 0.04 3.6 1.4
Tara Proven 3 500 3 800
8.3 2.0
Probable 12 500 13 200
6.8 1.7
Figures may be rounded up or down..
Mineral Resources as of 31st December 2010
Quantity Quantity
2010, ktonnes 2009, ktonnes
Au g/t Ag g/t Cu % Zn % Pb % Mo g/t Te g/t
The Boliden Area
Polymetallic mineralisations
Kristineberg Measured 50 50
0.7 45 1.3 4.2 0.2
Indicated 1 660 1 960
0.7 33 0.8 6.8 0.3
Inferred 2 300 3 250
0.8 45 0.7 4.2 0.3
Petiknäs N Measured 310 310
8.1 73 1.8 3.1 0.3
Indicated 1 200 1 200
2.7 52 0.6 1.8 0.3
Inferred 720 720
3.3 33 0.5 1.2 0.2
Renström Measured 10 10
3.4 167 0.9 8.6 1.4
Indicated 1 510 1 400
1.9 115 1.3 4.5 1.0
Inferred 1 890 1 890
3.3 233 0.6 9.2 2.1
Maurliden Measured 1 050 1 050
1.3 40 0.4 3.3 0.2
Indicated 360 360
0.9 45 0.7 2.9 0.2
Inferred
Maurliden Östra Measured
Indicated 410 400
0.5 13 0.4 0.4
Inferred
Total Measured 1 400 1 400
2.8 48 0.7 3.3 0.2
Polymetallic mineralisations Indicated 5 100 5 300
1.5 61 0.8 4.2 0.5
Inferred 4 900 5 900
2.1 115 0.6 5.7 1.0
Gold mineralisations
Kankberg Measured 59
2.2 12 113
Indicated 610 1 690
2.4 8 135
Inferred 120
6.0 8 140
Älgträsk Measured
Indicated 2 930 2 930
2.6 3
Inferred 1 270 1 270
1.8 3
Total Measured 60
2.2 12
Gold mineralisations Indicated 3 500 4 600
2.6 4
Inferred 1 400 1 300
2.1 3
Aitik Measured 708 000 633 000
0.12 1.0 0.19 24
Indicated 845 000 737 000
0.11 1.1 0.19 25
Inferred 164 000 131 000
0.11 0.6 0.15 20
Garpenberg Measured 2 600 2 100
0.3 95 0.07 3.9 1.7
Indicated 9 900 5 200
0.5 164 0.06 5.1 2.3
Inferred 26 800 21 200
0.5 146 0.06 5.2 2.5
Tara Measured 300 300
7.8 1.9
Indicated 4 600 3 700
6.8 2.1
Inferred 7 000 7 800
7.3 1.8
Figures may be rounded up or down..
Boliden's mineral resources and ore reserves show stable trend
| Source: Boliden AB
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