Boliden Ab Stock Price, News & Analysis

Boliden (BDNNY) has released its Annual and Sustainability Report 2024, marking a significant milestone with the theme 'A century of exploration and innovation.' The report, now available on the company's website, presents a comprehensive overview of Boliden's value creation, strategy, operations, sustainability initiatives, and financial performance.

Notable changes in this year's report include a new digital-friendly landscape format with clickable navigation, and the integration of the previously separate Sustainability Index into the main report's sustainability section. A printed version will be available for order in April 2024.

The report has been published in both English and Swedish, with the Swedish version following the European Single Electronic Format (ESEF) requirements. This release complies with Boliden's obligations under the Securities Markets Act, with the information made public on March 20, 2025, at 07:45 CET.

Boliden (BDNNY) provided updates during its Capital Markets Day on several key projects and expansions. The Odda zinc smelter expansion is entering its final phase, increasing capacity from 200 to 350 ktonnes annually, with expected annual EBITDA of EUR 150 million at full production. Ramp-up is scheduled for H2 2025.

The company reported progress on multiple mining projects: The Kristineberg mine investment completion will enable full concentrator capacity utilization for 10 years. At Garpenberg, a new paste plant investment was approved, with plans to increase production to 4.5 Mtonnes pending environmental permits. The Nautanen copper deposit holds 25.5 Mtonnes of mineral resources with high copper and precious metal grades, with production targeted for 2030.

Additionally, Boliden's cement replacement development project shows promising results, with over 10 potential customers engaged. A pilot project with 300 ktonnes production capacity is under evaluation, with an investment decision expected in H2 2025.

Boliden (BDNNY) has announced a significant investment of SEK 750 million in a new paste facility at its Garpenberg mine, marking the first step towards expanding production from 3.5 to 4.5 million tonnes annually. The facility will improve backfilling operations using a mixture of tailings and binder to stabilize rock and maximize ore tonnage.

The company has submitted a permit application for the production increase to 4.5 million tonnes. The new paste plant will be constructed adjacent to the existing facility to minimize production disruptions, with completion expected in 2026. Further expansion beyond the current 3.5 million tonnes licensed level will require additional developments in mine production, underground development, and ore transportation infrastructure.

The decision follows several years of successful exploration at Garpenberg, resulting in improved access to both Mineral Reserves and Mineral Resources. Concept studies are ongoing to evaluate potential future production increases, which would depend on expansions in mine production, hoisting, processing, and tailings facilities capacity.

Boliden (BDNNY) has inaugurated the world's most climate-efficient zinc smelter at Boliden Odda in Norway, marking a significant milestone in the company's largest investment project. The extensive facility upgrades will increase production capacity from 200 to 350 ktonnes, establishing it as Europe's second-largest zinc smelter.

The modernization includes new infrastructure for logistics and energy, a new roasting furnace, sulfuric acid plant, cellhouse, and improvements to the leaching, cleaning plant, and foundry. The enhanced facility will achieve 1,000 tonnes of cast zinc production per full-time employee annually, making it the world's most productive zinc smelter.

The project represents one of Norway's largest industrial investments on the mainland, continuing the 100-year legacy of zinc production in Odda. The upgraded facility will primarily serve European markets, focusing on rust protection applications across construction, automotive, and growing energy sectors, particularly wind turbines.

Boliden AB's Nomination Committee has proposed expanding its board with the addition of Victoire de Margerie as a new Board Member at the upcoming Annual General Meeting on April 23, 2025. The committee also recommends re-electing all current board members.

De Margerie, born in 1963, brings extensive experience in metals and polymers industry, currently serving as Executive Chairman of Rondol Industrie and Board Director at Verkor. Her background includes board positions at notable companies like Eurazeo, Arkema, and Norsk Hydro. She holds a PhD in Management Science from Université de Paris 2 Panthéon-Assas and various other academic qualifications.

The committee proposes Karl-Henrik Sundström to continue as Chairman of the Board. The Nomination Committee consists of Lennart Francke (Swedbank Robur Fonder) as Chairman, Karin Eliasson (Handelsbanken Fonder), and Patrik Jönsson (SEB fonder), with Sundström as co-opted member.

Boliden (BDNNY) announces production challenges at its Aitik copper mine due to high deposits of hard diorite rock encountered during a new pushback operation. The company expects:

- First quarter 2025 production of just over 9 Mtonnes
- Full-year 2025 production estimate of nearly 40 Mtonnes
- Copper grade maintaining at 0.16%

The challenges stem from oxidized ore and diorite deposits in an area representing half of Aitik's production. The oxidization negatively impacts recoveries, while the hard rock significantly limits grinding capacity. These conditions are expected to persist throughout 2025.

Boliden AB has completed a share repurchase program during February 7-10, 2025, acquiring 100,000 treasury shares for a total of SEK 37,508,826. The repurchase was conducted to ensure future share delivery for the company's long-term share savings programme 2024/2027.

The transactions included 95,864 shares at SEK 374.9054 per share on February 7, and 4,136 shares at SEK 379.3267 per share on February 10. All acquisitions were made on Nasdaq Stockholm through Skandinaviska Enskilda Banken AB. Following these transactions, Boliden's treasury shares total 140,000 out of 273,511,169 total shares outstanding.

Boliden's Board of Directors has approved a share repurchase program based on the authorization from the April 23, 2024 Annual General Meeting. The company plans to repurchase up to 100,000 shares on Nasdaq Stockholm between February 7-28, 2025, with a maximum expenditure of SEK 40 million.

The primary purpose is to ensure future share delivery to participants in Boliden's long-term share savings programme 2024/2027. Skandinaviska Enskilda Banken AB will execute the repurchases independently, following EU market abuse regulations and Safe Harbour rules. The company currently holds 40,000 treasury shares out of 273,511,169 total shares, and the repurchase must not exceed 10% of all shares.

Boliden has released its Mineral Resources and Mineral Reserves report for 2024, with exploration costs reaching SEK 929m. Key highlights include:

- Garpenberg showed strong performance with Mineral Reserves increasing by 5 Mtonnes (5%) and Mineral Resources up by 34 Mtonnes (38%)

- Aitik experienced a decrease in Mineral Reserves of 52 Mtonnes (5%) and Mineral Resources reduced by 35 Mtonnes (4%)

- The Boliden Area saw Mineral Reserves increase by 1 Mtonnes (7%) and Mineral Resources up by 2.5 Mtonnes (10%)

- Kevitsa reported a net increase in Mineral Reserves of 15 Mtonnes (19%) and Mineral Resources up by 15 Mtonnes (9%)

- Tara resumed production in October 2024, with ongoing work on a new production plan

The company also updated its long-term planning prices, with notable increases in copper (+$600/tonne), gold (+$200/oz), and silver (+$3/oz)