#Sweden #Stockholm #Boliden #Kevitsa Mine #Mineral Reserves

Boliden Enhances Mineral Resources and Reserves at Kevitsa Mine

Boliden has recently revealed substantial updates regarding the mineral resources and reserves at the Kevitsa Mine. This development comes as part of a detailed examination of the mine's mineralization, showcasing the company’s commitment to optimizing its operations and boosting future production.

In 2024, enhanced estimations indicated an increase of 25 million tonnes in the mineral reserves, raising the total reserves significantly compared to the previous calculations. Notably, the average grade for nickel in the mineral reserves has been adjusted upward to 0.22%, while the copper grade remains stable at 0.31%. Projections for 2025 indicate nickel and copper grade guidance at 0.17% and 0.23%, respectively.

A Strategic Mine Plan

The new mine plan developed during 2024 is not merely an exercise in numbers; it represents a significant strategic shift aimed at extending the mine's operational longevity. The revised plan ensures a mine life extension to an impressive 10 years based on the permitted production pace of 10 million tonnes each year.

In 2023, Boliden had to downgrade 20 million tonnes from the mineral reserves. However, the company has successfully converted this amount back into reserves through a well-planned permit application that allows for changes in construction methods for the Tailings Storage Facility (TSF). This alteration not only enhances the current capacity needs but aligns with the long-term operational strategy.

In total, the mineral resources have also seen an increase, rising by 15 million tonnes. Despite prior downgrades, the overall upward trend in resource estimation is a testament to the comprehensive re-evaluation conducted over the past year, which has incorporated updated assumptions about costs and pricing conditions.

A Cautious but Optimistic Future

While Boliden celebrates this key achievement, there remains a cautious outlook regarding future stages of development. The decision-making timeline for a potential Stage 5 project has been postponed by a couple of years. Stefan Romedahl, President of Boliden Mines, emphasized the importance of proactive action from European policymakers to ensure the sustainability and competitiveness of the internal nickel value chain.

"We are pleased to enhance our overall mine plan for Kevitsa, which paves the way for greater operational efficiency and an extended mine life. The necessary improvements, however, hinge largely on external factors, specifically the support from policymakers to cement a fair competitive landscape, especially against unsustainable practices," Romedahl stated.

Future Production Expectations

The upcoming production guidance for 2025 projects average grades for nickel and copper at 0.17% and 0.23%, respectively. These figures reflect the realities of the new mining strategy, which involves mining across various areas of the pit, including those with lower grades, to position the company better for future operations.

In conclusion, Boliden's proactive enhancements at the Kevitsa Mine herald a new era of growth, showcasing not only the increased mineral asset base but also underlining the need for updated policies that promote sustainability within the mining sector. The anticipated changes reflect Boliden's strategic foresight while ensuring adherence to environmental standards, operational excellence, and the safeguarding of their competitive standing in the industry.