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Boliden AB (BDNNY) is a leading European producer of sustainable metals through integrated mining, smelting, and recycling operations. This page serves as a comprehensive resource for stakeholders tracking the organization’s strategic developments, operational milestones, and industry leadership.
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Boliden has released its report detailing payments to government agencies pertaining to extractive industry operations in Sweden, Finland, and Ireland for the year 2020. This report, mandated by Swedish law, aims for transparency in how companies operate within the extractive sector. Boliden, a metals company with a SEK 50 billion annual turnover and around 6,000 employees, is committed to sustainable development while maintaining a global market presence. The information was disseminated in compliance with the Securities Markets Act and is available for public access.
Boliden reported strong Q1 2021 results with revenues of SEK 17,083 million, up from SEK 13,210 million. The operating profit surged to SEK 2,779 million from SEK 1,435 million. Excluding revaluation of process inventory, operating profit was SEK 2,449 million, up from SEK 1,504 million. The company achieved a free cash flow of SEK 2,165 million, improving significantly from a negative flow of SEK 845 million. Earnings per share rose to SEK 7.96, compared to SEK 3.90 in the previous year.
Boliden has announced a major investment of SEK 1,250 million to expand the Kristineberg mine towards the Rävliden mineralization, subject to permit approval. This expansion is projected to boost milled volumes to 1.8 million tonnes and extend the mine’s operational life. The initiative includes infrastructure improvements and the adoption of fossil-free technology. Boliden has completed exploration revealing 8.4 million tonnes of mineral resources containing copper, zinc, lead, silver, and gold. Production is anticipated to commence in 2023.
Boliden reported Q1 revenues of SEK 17,083 m, up from SEK 13,210 m in the previous year, with operating profit reaching SEK 2,449 m compared to SEK 1,504 m. The company's free cash flow totaled SEK 2,165 m, a significant increase from -845 m in Q1 2020. The growth was driven by higher metal prices, particularly copper, which positively impacted the Business Area Mines operating profits, up to SEK 1,631 m. However, production disturbances affected Aitik's milled volume.
Boliden, based in Sweden, is set to release its Interim Report for Q1 2021 on April 27 at 07:45 CET. The report will be presented by CEO Mikael Staffas and CFO Håkan Gabrielsson. An analyst conference will follow at 09:30, available via webcast and phone. Participants can join by calling specific numbers provided for Sweden, the UK, and the US, using the PIN code 69409035#. For further inquiries, investors can contact Olof Grenmark, Director of Investor Relations.
Boliden has restored full production capacity in its Aitik and Tara mines following disruptions caused by COVID-19 and equipment breakdowns. The impact on operating profit in the Business Area Mines for Q1 is now estimated at SEK -300 million, up from the previously forecasted SEK -200 million. In Aitik, a delay in repairs extended the outage of one primary mill by nearly three weeks, resulting in a throughput reduction of over 2 million tonnes. Production at the Tara mine resumed as planned after a brief interruption.
Boliden AB will hold its Annual General Meeting on April 27, 2021, with postal voting due to COVID-19. Shareholders must be registered by April 19, 2021, to participate. Key agenda items include reporting on financial results, election of board members, and proposals for a SEK 8.25 dividend and automatic share redemption of SEK 6 per share. A share split of 2:1 is also recommended, increasing shares from 273.5 million to 547 million. The company emphasizes a strong financial position, intending to distribute approximately SEK 3.9 billion to shareholders.
Boliden reports a stable situation in mineral resources and reserves for its mines in Aitik, Garpenberg, and Kevitsa as of 2020. Exploration activities have increased Mineral Resources in the Boliden Area due to successful drilling at the Rävliden deposit. Aitik's Mineral Reserves rose by 165 Mtonnes (14%), while Mineral Resources declined by 210 Mtonnes (19%). However, Garpenberg saw a 14.7 Mtonnes (20%) increase in Mineral Reserves. The cost of exploration reached SEK 504 million, with some disruptions due to Covid-19. Overall, improvements are evident across several sites despite some reductions in reserves.
Boliden reported strong financial results for Q4 2020, with revenues reaching SEK 16,170 m and operating profit hitting SEK 3,043 m. For the full year, revenues totaled SEK 56,321 m with operating profit at SEK 8,438 m. Free cash flow for the quarter was robust at SEK 2,750 m. Positive developments were noted at the Kevitsa mine and in smelting operations, while the Kylylahti mine is in reclamation. Boliden is focusing on sustainability by applying for membership in the International Council on Metals and Mining.
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