Boliden's Capital Markets Day 2022: New targets for reducing climate impact
On November 15, 2022, Boliden held its Capital Markets Day to discuss updated operational strategies and climate targets. The company aims for a 40% reduction in CO2 emissions by 2030 from 2021 levels. New targets for Low-Carbon Copper and Zinc were announced, and the company is applying to join the Science Based Target initiative. Investment projects in Aitik and Odda are on track, despite a planned impairment of €24.4 million due to halted exploration in Outokumpu. Presentations and a live webcast are available on Boliden's website.
- New climate targets aim for a 40% reduction in CO2 emissions by 2030 compared to 2021.
- Successful launch of Low-Carbon Copper and Low-Carbon Zinc products.
- Investment projects in Aitik and Odda are progressing as planned.
- Impairment of exploration rights will affect EBIT by €24.4 million in Q4 2022.
- Closure of exploration activities in the Outokumpu field.
STOCKHOLM, Nov. 15, 2022 /PRNewswire/ -- During Capital Markets Day, Boliden's management team makes presentations that include updated information about the operation, the industry and the metal markets. The purpose of the Capital Markets Day is to achieve a better understanding of value creation at Boliden's mines and smelters.
WEBCAST 12:30 CET
New climate targets
Seen from a global climate perspective, Boliden has a very competitive position. As a result, two special products, Low-Carbon Copper and Low-Carbon Zinc, have been successfully launched. Boliden has now decided to raise the bar further with sharpened carbon dioxide emissions goals to be achieved by 2030. The new target is for actual CO2 emissions to be 40 percent lower by 2030, compared to 2021 (Scope 1 and 2).
"In many respects, we are driving developments toward fossil-free base metal production. The new target will create further momentum for positive changes in both Boliden and the industry as a whole. It will provide a long-term boost to competitiveness," says Mikael Staffas, President and CEO of Boliden.
In parallel with its own climate efforts, Boliden has also decided on climate performance goals at the supplier level. Emissions must be 30 percent lower at the supplier level by 2030 compared to 2021 (Scope 3). New product intensity targets for copper and zinc for the total production are set at the limit values for Low-Carbon Copper, 1.5 metric tonnes CO2e/t Cu, and 1.0 metric tonnes CO2e/t Zn for Low-Carbon Zinc. Boliden has applied to join the Science Based Target initiative in conjunction with its decision on new climate targets.
Update investment projects and exploration
In connection with the Capital Markets Day, more information regarding ongoing investments will be presented, where the guidance that was recently given for 2023 is maintained. The investment projects in Aitik and Odda follow the schedule and previously communicated cost. In Aitik, stripping will increase in the coming years, while in Kevitsa it is estimated to decrease from 2026 according to the current mining plan. In Aitik, implementation of Autonomous Hauling System (AHS) will begin in 2023, and in addition, extensive work is underway to secure new environmental permits. Among other things, the existing main permit must be replaced by 2026.
Furthermore, updated information about Tara Deep will also be given as well as new information about the energy supply situation within the Group. In addition, Boliden's exploration activities will be presented. Boliden has decided to close exploration activities in the Outokumpu field, which will lead to impairment of exploration rights affecting EBIT by -24.4 MEUR in Q4 2022.
The presentations from the Capital Markets Day will be available on www.boliden.com from 11:30 CET. A live webcast of the presentations can be followed on the website starting at 12:30 CET. The webcast will also be available on the website as a recording afterwards.
The Capital Markets Day will be followed by a visit to the Harjavalta copper and nickel smelter.
For further information, please contact:
Klas Nilsson, Director Group Communications, phone: +46 70-453 65 88
klas.nilsson@boliden.com
Boliden is a metals company with a focus on sustainable development. Our roots are Nordic, our market global. Our core competence lies within the fields of exploration, mining, smelting and metal recycling. Boliden has around 6,000 employees and annual sales of approximately SEK 70 billion. The share is listed in the Large Cap segment on NASDAQ OMX Stockholm.
The following files are available for download:
Press Release (PDF) |
View original content:https://www.prnewswire.com/news-releases/bolidens-capital-markets-day-2022-new-targets-for-reducing-climate-impact-301678033.html
SOURCE Boliden
FAQ
What are Boliden's new climate targets announced on November 15, 2022?
What impact will the closure of exploration activities in Outokumpu have on Boliden's finances?
What updates were provided regarding investment projects at Boliden's Capital Markets Day?
Where can I find the presentations from Boliden's Capital Markets Day?
What products did Boliden launch to address climate change?
