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Boliden AB (BDNNY) is a leading European producer of sustainable metals operating in the exploration, mining, smelting, and recycling sectors. With a vision to be the most climate-friendly and respected metal provider, Boliden employs around 6,000 individuals and generates annual revenue of approximately SEK 80 billion. Recent investments include a new tank house at Rönnskär set to boost copper cathode and precious metal production. Additionally, ongoing projects and innovative breakthroughs reflect Boliden's commitment to environmental performance and strategic growth.
Boliden has launched sales of low climate footprint zinc, emitting less than 1 tonne of CO2 per tonne, in contrast to the industry average of 2.5 tonnes.
This product will constitute 18% of Boliden's total zinc production, primarily used in galvanization of steel, enhancing durability.
Initial customers include Zinkpower and EverZinc, with deliveries starting in February 2022. Boliden aims to expand its portfolio in sustainable products following the positive market reception of low-carbon copper.
Boliden announces its Interim Report for Q4 2021 set for release on February 11, 2022 at 07:45 (CET). The report will be presented by President and CEO Mikael Staffas and CFO Håkan Gabrielsson. A press and analyst conference will follow at 09:30 (CET) at Kapitel 8, Room Dagerman, Stockholm, with options to attend via webcast and telephone. Participants are encouraged to call in five minutes prior to the conference. For more details, contact Olof Grenmark, Director of Investor Relations.
Nickel production at Boliden's Harjavalta facility has resumed after a temporary halt caused by a slag explosion on December 24, 2021. The production capacity is projected to ramp up to 370 ktonnes per year. Importantly, there were no injuries reported during the incident. This resumption is a significant development for Boliden as it aims to stabilize its nickel output and meet market demand.
On December 24, a slag explosion occurred at Boliden's Harjavalta smelter, halting nickel production. Fortunately, there were no injuries. The incident affected the mechanical construction and slag tapping system, leading to a production stoppage expected to last until mid-January. The estimated financial impact on EBIT is 100 MSEK, with 50 MSEK anticipated in Q4 2021 due to lost production and repair costs.
Boliden has signed a significant agreement with Metso Outotec to expand the Odda zinc smelter between 2021 and 2024. The deal, valued at 150 MEUR, is part of a larger 700 MEUR investment to enhance production capacity from 200,000 to 350,000 tonnes per year. This expansion aims to improve sustainability and cost efficiency in zinc smelting, with commissioning scheduled for Q4 2024. President Daniel Peltonen emphasized that this collaboration will help Boliden produce zinc with a leading climate profile.
The Boliden Nomination Committee has been restructured, appointing Lilian Fossum Biner as Chair and adding Anders Oscarsson to better reflect shareholder interests. Key members include Jan Andersson, Lars-Erik Forsgårdh, Ola Peter Gjessing, and Anders Ullberg. The committee invites shareholder proposals via email or mail. Boliden is a leading metals company focused on sustainable development with around 6,000 employees and an annual turnover of SEK 50 billion, listed on NASDAQ OMX Stockholm.
Boliden reported stable results for Q3, 2021, with an operating profit increase to SEK 1,936 million, boosted by high metal prices. However, milled volumes in Aitik and Tara fell compared to previous periods, with a significant production shutdown in Garpenberg. Boliden Smelters' profit excluding inventory revaluation was SEK 611 million, down from SEK 835 million, impacted by higher energy prices and a fire in Harjavalta, which resulted in an SEK -80 million loss. Global demand for base metals remains strong, but supply chain uncertainties persist.
Boliden's Q3 2021 report indicates revenues of SEK 15,906 m, up from SEK 13,550 m in Q3 2020. However, operating profit fell to SEK 2,305 m from SEK 2,622 m the previous year, with free cash flow decreasing to SEK 962 m. Earnings per share also dipped to SEK 6.57, down from SEK 7.44. The company faced production disruptions in mines and smelters despite high metal prices. A conference call is scheduled for October 22 to discuss the full report.
Boliden has announced the introduction of an Autonomous Hauling System at its Aitik mine, investing SEK 218 million for full implementation by 2024. This initiative aims to enhance productivity and asset utilization in response to increasing transport demands, while maintaining cost competitiveness. The project will also improve the safety and attractiveness of the work environment through extensive staff training. This marks the first roll-out of such a system in the EU, reinforcing Aitik's status as the world's most productive copper mine.
Boliden will release its third quarter 2021 Interim Report on October 22 at 07:45 CET. A press and analyst conference is scheduled for 09:30 CET, accessible via live webcast and telephone. Boliden's President and CEO, Mikael Staffas, and CFO Håkan Gabrielsson will present the report. Interested participants can join via a specified telephone number based on their location. For further information, contact Olof Grenmark, Director of Investor Relations.
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