Updated Mineral Resources and Mineral Reserves for Kevitsa as well as grade guidance for 2025
Boliden has announced updated estimates for Mineral Resources and Mineral Reserves at its Kevitsa mine, showing significant increases in both categories. The Mineral Reserve tonnage increased by 15 Mtonnes (19%) to 97,500 Ktonnes, with average grades of 0.22% for nickel and 0.31% for copper. The mine life has been extended to 10 years at a production pace of 10 Mtonnes per year.
For 2025, production grade guidance is set at 0.17% for nickel and 0.23% for copper, temporarily below the life-of-mine average due to mining in certain low-grade areas. The company has also postponed the decision on a potential Stage 5 project by several years. Additionally, 20 Mtonnes previously downgraded from Mineral Reserves in 2023 have been converted back, following changes in the Tailing Storage Facility construction method.
Boliden ha annunciato stime aggiornate per le Risorse Minerali e le Riserve Minerali presso la sua miniera di Kevitsa, mostrando aumenti significativi in entrambe le categorie. Il tonnellaggio delle Riserve Minerali è aumentato di 15 Mtonnellate (19%) raggiungendo le 97.500 Ktonnellate, con gradi medi dello 0,22% per il nichel e dello 0,31% per il rame. La vita della miniera è stata estesa a 10 anni con un ritmo di produzione di 10 Mtonnellate all'anno.
Per il 2025, la guida alla qualità di produzione è fissata allo 0,17% per il nichel e allo 0,23% per il rame, temporaneamente al di sotto della media della vita della miniera a causa dell'estrazione in alcune aree a basso grado. L'azienda ha anche rinviato la decisione su un potenziale progetto Fase 5 di diversi anni. Inoltre, 20 Mtonnellate precedentemente declassate dalle Riserve Minerali nel 2023 sono state riqualificate, a seguito di modifiche nel metodo di costruzione dell'Impianto di Stoccaggio dei Fanghi.
Boliden ha anunciado estimaciones actualizadas para los Recursos Minerales y las Reservas Minerales en su mina de Kevitsa, mostrando aumentos significativos en ambas categorías. El tonelaje de las Reservas Minerales aumentó en 15 Mtoneladas (19%) hasta alcanzar las 97,500 Ktoneladas, con grados promedio del 0.22% para el níquel y del 0.31% para el cobre. La vida útil de la mina se ha extendido a 10 años a un ritmo de producción de 10 Mtoneladas por año.
Para 2025, la guía de grado de producción se establece en 0.17% para níquel y 0.23% para cobre, temporalmente por debajo de la media de la vida útil de la mina debido a la minería en ciertas áreas de bajo grado. La empresa también ha pospuesto la decisión sobre un posible proyecto Fase 5 por varios años. Además, 20 Mtoneladas que anteriormente se habían degradado de las Reservas Minerales en 2023 han sido reconvertidas, tras cambios en el método de construcción de la Instalación de Almacenamiento de Relaves.
Boliden은 Kevitsa 광산의 광물 자원 및 광물 매장량에 대한 업데이트된 추정치를 발표하였으며, 두 범주에서 모두 유의미한 증가를 보였습니다. 광물 매장량이 15 백만 톤(19%) 증가하여 총 97,500 백만 톤에 이르렀으며, 니켈 평균 품위는 0.22%, 구리는 0.31%입니다. 광산 수명은 연간 10 백만 톤의 생산 속도로 10년으로 연장되었습니다.
2025년의 생산 품위 지침은 니켈의 경우 0.17%, 구리의 경우 0.23%로 설정되었으며, 특정 저품위 지역에서의 채굴로 인해 일시적으로 광산 수명 평균 이하입니다. 회사는 또한 잠재적 5단계 프로젝트에 대한 결정을 몇 년 연기하였습니다. 추가로, 2023년에 광물 매장량에서 이전에 축소된 20 백만 톤이 제염수 저장 시설 건설 방법의 변경에 따라 다시 전환되었습니다.
Boliden a annoncé des estimations mises à jour pour les Ressources Minérales et les Réserves Minérales de sa mine de Kevitsa, montrant des augmentations significatives dans les deux catégories. Le tonnage des Réserves Minérales a augmenté de 15 Mtonnes (19%) pour atteindre 97 500 Ktonnes, avec des teneurs moyennes de 0,22% pour le nickel et de 0,31% pour le cuivre. La durée de vie de la mine a été prolongée à 10 ans à un rythme de production de 10 Mtonnes par an.
Pour 2025, l'orientation sur la qualité de production est fixée à 0,17% pour le nickel et 0,23% pour le cuivre, temporairement en dessous de la moyenne de la durée de vie de la mine en raison de l'exploitation dans certaines zones à faible teneur. L'entreprise a également reporté la décision sur un projet potentiel de Phase 5 de plusieurs années. De plus, 20 Mtonnes qui avaient été précédemment déclassées des Réserves Minérales en 2023 ont été reconverties, à la suite de modifications dans la méthode de construction de l'Installation de Stockage des Déchets.
Boliden hat aktualisierte Schätzungen zu Mineralressourcen und Mineralreserven in seiner Kevitsa-Mine veröffentlicht, die signifikante Anstiege in beiden Kategorien zeigen. Der Mineralreserve-Tonnenwert stieg um 15 Mio. Tonnen (19%) auf 97.500 Ktonnen, mit einem Durchschnittsgehalt von 0,22% für Nickel und 0,31% für Kupfer. Die Lebensdauer der Mine wurde auf 10 Jahre bei einer Produktionsrate von 10 Mio. Tonnen pro Jahr verlängert.
Für 2025 wird die Produktionsgrad-Leitlinie auf 0,17% für Nickel und 0,23% für Kupfer festgelegt, vorübergehend unter dem Durchschnitt der Lebensdauer der Mine, bedingt durch den Abbau in bestimmten Niedriggehaltsgebieten. Das Unternehmen hat auch die Entscheidung über ein potenzielles Projekt der Stufe 5 um mehrere Jahre verschoben. Darüber hinaus wurden 20 Mio. Tonnen, die 2023 zuvor von den Mineralreserven abgewertet wurden, nach Änderungen in der Bauweise der Rückstandsdeponie wieder zurückgeführt.
- Mineral Reserves increased by 15 Mtonnes (19%) to 97,500 Ktonnes
- Mine life extended to 10 years
- Higher average nickel grade in Mineral Reserve (0.22% vs 0.20% previous year)
- Mineral Resources increased by 15 Mtonnes (9%)
- 2025 production grades (Ni 0.17%, Cu 0.23%) below life-of-mine average
- Stage 5 project decision delayed by several years
"We are happy to announce that we have been able to improve the overall mine plan for Kevitsa. As a result, we not only increase the Mineral Reserves and secure a prolongation of the mine life, we have also been able to optimize the production in a way that pushes the decision point for a possible Stage 5 project up to a couple of years forward. It is, however, important to stress that European policymakers should act more decislivly in order to safeguard the internal nickel value chain from unfair and unsustainable competition," says Stefan Romedahl, President Boliden Mines.
Kevitsa
During 2024 a comprehensive re-estimation of the Mineral Resources has been conducted which has resulted in a new mine plan and updated Mineral Reserves. In total 25 Mtonnes have been added to the Mineral Reserve. During 2024, a total of 9.85 Mtonnes were milled, making the net increase in Mineral Reserves 15 Mtonnes (
In 2023, 20 Mtonnes were downgraded from Mineral Reserves. The same amount has now been converted back, related to the permit application to change the construction method for the Tailing Storage Facility (TSF). This methodological change creates the possibility to increase the TSF to the capacity needed for the current mine plan. The Mineral Resources have increased by 15 Mtonnes (
The total volume as well as average grade for each classification is shown in table 1 below. For 2025, the average production grade will be 0.17 percent for nickel and 0.23 percent for copper, both under the average grade guidance for life of mine plan. The reason for temporarily lower grades is a new and improved mine plan which requires mining in certain low-grade areas of the pit in order to be able to reach better positions in the future.
Table 1. Mineral Resources and Mineral Reserves for Boliden Kevitsa Mine as of 31-12-2024 and 31-12-2023 for comparison.
(Tonnes and grades are rounded which may result in apparent summation differences). | |||||||
2024 | |||||||
Ktonnes | Au | Cu | NiS* | CoS** | Pt | Pd | |
Classification | (g/t) | ( %) | ( %) | ( %) | (g/t) | (g/t) | |
Mineral Reserves | |||||||
Proved | 37,400 | 0.10 | 0.30 | 0.20 | 0.009 | 0.22 | 0.14 |
Probable | 60,100 | 0.09 | 0.32 | 0.23 | 0.010 | 0.17 | 0.11 |
Total | 97,500 | 0.09 | 0.31 | 0.22 | 0.010 | 0.19 | 0.12 |
Mineral Resources | |||||||
Measured | 69,100 | 0.08 | 0.29 | 0.20 | 0.010 | 0.15 | 0.10 |
Indicated | 111,300 | 0.07 | 0.34 | 0.23 | 0.010 | 0.12 | 0.07 |
Total M&I | 180,400 | 0.07 | 0.32 | 0.22 | 0.010 | 0.13 | 0.08 |
Inferred | 1,300 | 0.05 | 0.24 | 0.14 | 0.010 | 0.08 | 0.05 |
2023 | |||||||
Ktonnes | Au | Cu | NiS* | CoS** | Pt | Pd | |
Classification | (g/t) | ( %) | ( %) | ( %) | (g/t) | (g/t) | |
Mineral Reserves | |||||||
Proved | 47,900 | 0.10 | 0.31 | 0.20 | 0.009 | 0.20 | 0.13 |
Probable | 34,200 | 0.08 | 0.32 | 0.21 | 0.010 | 0.17 | 0.11 |
Total | 82,100 | 0.09 | 0.31 | 0.20 | 0.009 | 0.18 | 0.12 |
Mineral Resources | |||||||
Measured | 60,700 | 0.09 | 0.34 | 0.23 | 0.011 | 0.17 | 0.11 |
Indicated | 105,700 | 0.07 | 0.36 | 0.24 | 0.012 | 0.12 | 0.07 |
Total M&I | 166,400 | 0.08 | 0.35 | 0.23 | 0.011 | 0.14 | 0.09 |
Inferred | 300 | 0.04 | 0.22 | 0.13 | 0.011 | 0.06 | 0.03 |
(*Sulphidic Ni, **Sulphidic Co) | |||||||
Additional information about Mineral Resource and Mineral Reserve classification is available at the Boliden web site (Mineral Resources and Mineral Reserves - Boliden) and an updated summary report about Kevitsa Mineral Resources and Mineral Reserves 2024 will be published there shortly. This press release about Kevitsa Mineral Resources and Mineral Reserves has been reviewed and approved by Sofia Höglund, Competent Person and Head of Mineral Resources and Project Evaluation, Boliden, who is a member of The Fennoscandian Association for Metals and Minerals Professionals (FAMMP), an approved organization for competent persons according to PERC.
For further information, please contact:
Klas Nilsson
Director Group Communications
+46 70-453 65 88
klas.nilsson@boliden.com
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SOURCE Boliden
FAQ
What are the new Mineral Reserve estimates for Boliden's Kevitsa mine in 2024?
What are Boliden's production grade guidance for Kevitsa mine in 2025?
How long is Kevitsa mine's new expected life span?
What happened to the 20 Mtonnes previously downgraded from Kevitsa's Mineral Reserves?
