#Sweden #Stockholm #Boliden #Odda Expansion #Project Portfolio

Boliden's Capital Markets Day: Key Highlights on Odda Expansion and Future Prospects

On March 18, 2025, Boliden hosted its Capital Markets Day, presenting critical updates on its expansion project at Odda, alongside various other strategic initiatives within its Business Area Mines. The event showcased Boliden's ongoing commitment to enhancing its operational capabilities and solidifying its market position in the mining sector.

Odda Expansion Investment Details

The Odda zinc smelter is currently in the final phase of an ambitious investment project aimed at significantly increasing its production capacity from 200,000 tonnes to 350,000 tonnes of zinc annually. This project encompasses an array of infrastructure enhancements, such as reinforced power supply, quay upgrades, and the installation of a new roasting furnace. Additional facilities include a newly constructed sulphuric acid plant, modernized leaching and purification operations, and improvements to the tankhouse and foundry.

Upon reaching full production, Boliden anticipates generating approximately EUR 150 million in annual EBITDA—a figure consistent with previously forecasted objectives. The company plans to gradually implement testing and commissioning of the new facilities throughout the second quarter of 2025, with expectations to ramp up to full production by the latter half of the year.

Innovative Cement Replacement Project

In the realm of sustainable operations, Boliden's Business Area Smelters is pursuing a promising project focused on cement replacement. The preliminary studies have confirmed that this innovative product meets stringent property requirements, and there is notable commercial interest, with over ten confirmed customers involved in joint studies. This alternative has a significantly lower carbon footprint than conventional cement production. A pilot project is currently being examined, projected to produce 300,000 tonnes, with a formal investment decision anticipated by the latter half of 2025.

Ongoing Exploration and Value Creation

Boliden's existing mining areas are already proving to be substantial value generators. Successful exploration efforts have laid fertile ground for the continued growth of operations, particularly in the Boliden Area. The ongoing investment in the Kristineberg mine aims to maximize capacity utilization at the combined concentrator for the following decade. Furthermore, projects for recycling tailings aim to sustain production until the end of the 2030s, with early exploration results in existing mines indicating promising potential.

Additionally, the evaluation of the Älgträsk gold-rich deposit, for which Boliden holds the mining concession, is underway. The company is considering application for an environmental permit to optimize value. At Garpenberg, a new paste plant for backfilling has been approved, with plans to increase production to 4.5 million tonnes. Although this requires further investments in mine production, hoisting, and concentrator capacity, the initial steps have already been initiated, setting the stage for future expansion.

Future Prospects in Copper and Nickel Mining

Boliden's open-pit mines in Aitik and Kevitsa are expected to see improvements in copper and nickel grades over the next few years. Additionally, studies and preparations have begun to apply for an environmental permit for the Nautanen copper deposit in Aitik. Currently, the total mineral resources at this site amount to an impressive 25.5 million tonnes, highlighted by high copper grades and favorable precious metal concentrations. Exploration is ongoing, with production slated to potentially begin as early as 2030.

Conclusion

Today's Capital Markets Day provided critical insights into Boliden's strategic developments, showcasing how the company aims to navigate through various operational challenges while focusing on sustainability and value creation. Stakeholders can look forward to future updates on these endeavors as the company continues to evolve in a competitive market landscape. The event's detailed presentations are accessible via a live webcast and have been made available on Boliden's website for further reference.

For additional details, stakeholders and interested parties can reach out to Klas Nilsson, Director of Group Communications, via the provided contact information. The progress Boliden is making through these innovative projects promises to create significant value in the coming decade, ensuring the company's position as a leading entity in the mining industry.