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BOLIDEN, Sweden--(BUSINESS WIRE)-- Regulatory News: Boliden’s (BOL.ST)(TSX:BLS) purchase of the Kylylahti copper mine and of copper/nickel deposits in the Outokumpu field in eastern Finland was completed today and sees Boliden establish itself as both a mining and a smelting operator in Finland. Boliden’s purchase of the Kylylahti copper mine and of copper/nickel deposits in the Outokumpu field in eastern Finland was completed today and sees Boliden establish itself as both a mining and a smelting operator in Finland. “We welcome the Kylylahti employees to the Boliden Group. The integration process has begun and we are looking forward to working with the synergies we see in terms of mining, metallurgy and exploration. Exploration efforts in the area have been limited since the mid-1980s and the potential below 400 m depth has not been explored in any detail, which is naturally very exciting,” says Boliden’s President and CEO, Lennart Evrell. Background: The consideration for the transaction between Boliden and the Australian company, Altona Mining, was USD 95 million, subject to adjustments for working capital, net debt and net capital expenditure during the settlement period. The acquisition has been financed by existing loan facilities and Kylylahti will, as of 1 October, be consolidated within Boliden Mines as a fifth mining area. |
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Boliden Mineral AB
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PRODUCER |
CODE : BOL.ST |
ISIN : SE0000869646 |
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Boliden Mineral is a molybdenum exploration company based in Sweden. Boliden Mineral produces molybdenum, copper, gold, lead, silver and zinc in Ireland and in Sweden, and holds various exploration projects in Argentina, in Burkina Faso, in Canada, in Mexico, in Spain and in Sweden. Its main assets in production are BOLIDEN AREA OPERATIONS (BAO), AITIK, SKELLEFTE MINING DISTRICT and GARPENBERG in Sweden and TARA MINE (NAVAN) in Ireland and its main exploration properties are TY and PREMIER-BIG MISSOURI & MILL in Canada, LAISVALL MINE in Sweden and LOS FRAILES (APIRSA) in Spain. |