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Boliden AB (publ) - BDNNY STOCK NEWS

Welcome to our dedicated page for Boliden AB (publ) news (Ticker: BDNNY), a resource for investors and traders seeking the latest updates and insights on Boliden AB (publ) stock.

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.

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Boliden's Q2 2024 results show significant improvement, with revenues rising to SEK 22,748 m from SEK 18,442 m in the previous year. The operating profit surged to SEK 4,814 m, largely due to SEK 2,400 m in insurance income related to the Rönnskär fire. Excluding process inventory revaluation, operating profit was SEK 4,000 m. Earnings per share increased to SEK 13.20 from SEK 1.90. The company saw improved metal prices but lower treatment charges and premiums. Notable events include the decision to reopen Tara mine, incurring a restructuring cost of SEK -358 m, and the start of production at Aitik's satellite pit, Liikavaara. Garpenberg achieved record milled volume, while overall milled volumes decreased, primarily due to Tara's care and maintenance status.

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Boliden will release its Q2 2024 Interim Report on July 19 at 07:45 CEST. The report will be presented in a press and analyst conference later the same day at 09:30, hosted by President and CEO Mikael Staffas and CFO Håkan Gabrielsson. The event will be accessible via webcast and telephone. Participants are required to register in advance to receive the access details. The recorded webcast and presentation materials will be made available on Boliden’s website post-conference.

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Boliden has published its 2023 report on payments to government agencies in accordance with Swedish Law (2015:812). The report includes payments made to government agencies in Sweden, Finland, and Ireland related to Boliden's extractive industry operations. The release was made public as required by the Securities Markets Act, with information submitted at 11.00 CEST on June 20, 2024. For more details, contact Klas Nilsson, Director of Group Communications.

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An agreement has been reached to reopen the Tara mine in a more financially sustainable manner after being put in care and maintenance in July 2023. The agreement includes an optimized mining plan, organizational redesign, and reduction in employees to improve productivity and reduce costs. Despite one-off restructuring costs negatively impacting the second quarter of 2024, the mine is expected to resume full production by January 2025.

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Boliden has received confirmation that the primary insurance company will fully cover the insurance claim for Rönnskär's tank house fire, resulting in an income of SEK 2.4 billion for the second quarter of 2024. The total insurance coverage for Rönnskär was SEK 3.4 billion, with a primary insurance limit of SEK 2.4 billion and an excess insurance of SEK 1 billion. Discussions on the payment plan are ongoing.

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Boliden, a leading mining and metals company, has integrated climate goals validated by the Science Based Targets initiative into its existing credit facilities agreement. The agreement now includes sustainability targets for emission reductions by 2030, aligning with Boliden's vision to be a climate-friendly metal provider.

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Boliden to announce its Interim Report for the first quarter 2024 on April 23, 2024. The report will be presented by Boliden's President and CEO Mikael Staffas and CFO Håkan Gabrielsson. Participation in the webcast and telephone conference is available. Contact details provided for further information.
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Boliden faces challenges due to political strikes affecting critical infrastructure in Finland, impacting production and profits. The strikes may lead to an estimated SEK 500 million reduction in operating profit for the first quarter of 2024, with a significant cash flow impact. Despite the setbacks, Boliden remains committed to sustainability and aims to be a leading metal provider globally.
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Boliden AB (BDNNY) has announced its Annual General Meeting scheduled for April 23, 2024. Shareholders can participate in person or by postal voting. The proposed agenda includes resolutions on dividends, Board members, auditors, and remuneration.
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Boliden announces a SEK 4.8 billion investment in a new tank house at Rönnskär to increase copper cathodes and precious metals production. Additional investments in extending the Boliden Area's lifespan and updated guidance for 2024 are also highlighted. A technical breakthrough in producing supplementary cementitious material with a low climate footprint and the launch of Low-Carbon Nickel further enhance Boliden's sustainability efforts.
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FAQ

What is Boliden AB's core business?

Boliden AB is a major European producer of sustainable metals, operating in exploration, mining, smelting, and recycling.

What is Boliden AB's vision?

Boliden AB aims to be the most climate-friendly and respected metal provider in the world.

How many employees does Boliden AB have?

Boliden AB employs around 6,000 individuals.

What is the annual revenue of Boliden AB?

Boliden AB generates annual revenue of approximately SEK 80 billion.

What recent investment has Boliden AB made?

Boliden AB has invested in a new tank house at Rönnskär to boost copper cathode and precious metal production.

What sectors does Boliden AB operate in?

Boliden AB operates in exploration, mining, smelting, and recycling sectors.

What reflects Boliden AB's commitment to environmental performance?

Ongoing projects and innovative breakthroughs demonstrate Boliden AB's commitment to environmental performance and strategic growth.

Boliden AB (publ)

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Dimension Stone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
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