Boliden: Statement on changed tax conditions in Finland

Rhea-AI Summary

Boliden (OTC:BDNNY) has responded to the Finnish government's proposed tax changes affecting mining activities. The proposal would result in increased annual costs of 20-30 MEUR for Boliden's Kevitsa copper and nickel mine, primarily due to a quadrupling of the Finnish mining tax.

The company has submitted concerns about the proposal's impact on investment climate and European raw material supplies, stating that the government's proposal lacks proper impact assessments and should be withdrawn. The Kevitsa mine produces several EU-designated critical metals, including copper, nickel, cobalt, and PGMs.

Positive

• None.

Negative

• Annual costs expected to increase by 20-30 MEUR at Kevitsa mine
• Quadrupling of Finnish mining tax proposed
• Potential negative impact on investment climate and operations

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STOCKHOLM, Aug. 18, 2025 /PRNewswire/ -- The Finnish government has submitted proposals for changed tax levels for mining activities and partly related energy taxes. As part of the decision-making process, Boliden has submitted describing the consequences for the investment climate as well as European raw material supplies in the event that the currently proposed levels were to come into force. In total, the new tax levels are estimated to mean 20-30 MEUR in annual increased costs for the Kevitsa copper and nickel mine, most of which is attributable to a quadrupling of the recently introduced Finnish mining tax. Boliden's submission also states that the Finnish government's proposal is inadequately prepared and that no proper impact assessments have been made, and that the current proposals should therefore be withdrawn in their entirety. Both copper and nickel, as well as cobalt and PGMs, which are also mined in Kevitsa, are designated as critical metals by the EU.

For further information, please contact:

Klas Nilsson
Director Group Communications
+46 70 453 65 88
Klas.Nilsson@boliden.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/boliden/r/statement-on-changed-tax-conditions-in-finland,c4219193

The following files are available for download:

https://mb.cision.com/Main/997/4219193/3613082.pdf

Press release

FAQ

How much will the new Finnish tax changes cost Boliden's Kevitsa mine annually?

The new tax levels are estimated to increase costs by 20-30 MEUR annually for the Kevitsa copper and nickel mine.

What is Boliden's (BDNNY) response to Finland's proposed mining tax changes?

Boliden has submitted concerns stating the proposal is inadequately prepared, lacks proper impact assessments, and should be withdrawn entirely.

What metals does Boliden's Kevitsa mine produce?

The Kevitsa mine produces copper, nickel, cobalt, and PGMs (Platinum Group Metals), all of which are designated as critical metals by the EU.

How much is Finland increasing its mining tax for Boliden operations?

The proposal includes a quadrupling of the recently introduced Finnish mining tax, which comprises most of the 20-30 MEUR increased annual costs.