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Boliden appoints new President Business Area Mines

Stefan Romedahl has been appointed as the new President Business Area Mines and will  be a member of Boliden’s Group management. Stefan will take up his new post in the autumn of 2018 and will thereby replace Mikael Staffas who will be President and CEO from 1 June 2018.

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Board Composition Proposal by Boliden’s Nomination Committee

Boliden’s Nomination Committee will propose to the Annual General Meeting of Shareholders, to be held on 25 April 2017, that Pia Rudengren is elected as a new Member of the Board, and that current Board Members Marie Berglund, Tom Erixon, Lennart Evrell, Michael G:son Löw, Elisabeth Nilsson, Anders Ullberg and Pekka Vauramo are re-elected. Anders Ullberg is further proposed to be re-elected as Chairman of the Board. Ulla Litzén has declined re-election.

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Boliden invests in the Tara Mine in Ireland

Successful exploration at the Tara zinc mine in Ireland has identified a new mineralisation with an inferred mineral resource of 10 Mtonnes. Boliden has decided to expand the mine’s tailings dam and launch a programme to extend the life-of-mine.

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Boliden’s Q3: Strong Earnings and high Mine Production

Boliden’s third quarter was primarily characterised by improvements in metal prices and high production in Mines. Revenues for the period totalled SEK 9,733 m (9,764) and the operating profit, excluding revaluation of process inventory, improved to SEK 1,318 m (1,055). The free cash flow was negatively affected by higher stock levels and totalled SEK 91 m (953).

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Boliden: Higher Head Grade but below expected Levels

Selective Mining introduced from early 2016 with reduced mining activities focused on high grade areas

HIGHLIGHTS Q2 2016 vs Q2 2015

  •  Gold production 73.7 kg (126.6)
  •  Milled ore 37,303 tonnes (85,738) at 2.4 g/t (1.8)
  •  Cash Cost 1,396 USD/oz (1,365)
  •  Revenues 20.9 MSEK (23.1)
  •  EBITDA -4.8 MSEK (-18.7)
  •  Profit after tax -13.5 MSEK (-28.2)
  •  Earnings per share -1.29 SEK (-4.46)
  •  Reverse split 100:1 completed in May 2016
  •  Terms of a new off-take agreement for deliveries of flotation concentrate agreed with Boliden
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Boliden's Q2: Good Production Levels and strong Cash Flow

 

Boliden’s second quarter was characterised by good production levels, in spite of variations between the individual mines and comprehensive maintenance shutdowns at the smelters. Revenues totalled SEK 9,596 m (10,373) and the operating profit, excluding revaluation of process inventory, was SEK 901 m (1,257). The free cash flow, adjusted for the acquisition of the Kevitsa mine, totalled SEK 1,148 m.

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