Boliden’s 2014 Capital Markets Day: Well Positioned for a Market in Change
November 10 2014 - 6:00AM
Business Wire
Regulatory News:
Boliden: (STO:BOL)(TSX:BLS)
Corrected version of press release. Please note that press
release no:18 published this morning contained one error. The
correct sentence under Organic growth is: The new capacity is
expected to come on line during the latter half of 2017 and the
investment will total NOK 350 million.
Over the course of two days, Boliden’s management will meet with
financial analysts, bank representatives and business journalists
to present the company’s strategies and the way it sees the metals
market, and to visit the new facilities in the Garpenberg
zinc-silver mine – one of the most modern mines in the world.
Boliden will also, in conjunction with the Capital Markets Day, be
launching a new nickel strategy and presenting the expansion of
zinc production at the Boliden Odda smelter.
Over the last few years, Boliden has invested in efficiency
enhancing activities, in expansions and in acquisitions – all in
line with the company’s strategy. This approach has, among other
things, resulted in a doubling of ore production at the Aitik
copper mine and the zinc-silver mine Garpenberg and made the two
Swedish mines among the most productive in the world today. Within
Smelters, the investment in recycling of electronic materials, have
made Boliden R�nnskär a world leader in this field.
“We have shown that we can deliver massive projects on time and
on budget. Our efforts to improve Boliden’s productivity and
competitiveness will continue, in the form of ongoing investments
in expansions, bottleneck investments, and enhanced environmental
performance. The market outlook suggests that demand for Boliden’s
main metals, copper and zinc, will grow. There is currently a
global shortage of zinc mines and, at the same time, zinc smelters
have high levels of capacity utilisation and are thus enjoying
healthy market conditions. We also expect the present surplus of
copper concentrate to become a shortage in a couple of years’ time.
With our investments, Boliden is well positioned for the expected
market changes,” says Boliden’s President & CEO, Lennart
Evrell.
Enhanced efficiency and increased stability Boliden will
continue to work with its efficiency-enhancing and action
programmes, including those being implemented at the R�nnskär
copper smelter in Sweden. Investments in increased process
stability and cost-cutting are expected to result in improvements
in the profits of SEK 275 million per annum, starting in 2017 (base
year, 2013). Boliden expects to achieve SEK 150 million of this
total improvement in 2014.
Organic growth Capacity at the Boliden Odda zinc smelter in
Norway will be increased from 170,000 to 200,000 tonnes of zinc per
annum, in order to boost the facility’s competitiveness. The new
capacity is expected to come on line during the latter half of 2017
and the investment will total NOK 350 million (Boliden Press
Release 19/2014).
The increase in production volume at the Aitik mine to 45
million tonnes of ore per annum by 2017 has now begun. The
investment of SEK 600 million already announced relates to the
replacement and reinforcement of crushers, enhanced water pumping,
and a new electrical substation for the mine’s power supply. The
planned volume for 2015 is 40 million tonnes of ore with an average
head grade for 2015 and 2016 of 0.21per cent.
Boliden’s total CAPEX in 2015 is estimated at SEK 4.5
billion.
New nickel strategy for Boliden Harjavalta In the summer of
2015, Boliden will change the business model for its nickel
smelting operation at Boliden Harjavalta in Finland, and buy nickel
concentrate from external suppliers and sell the so called nickel
matte on the global market. Production is expected to remain at
25,000 tonnes of nickel matte per annum (Boliden Press Release
20/2014).
The Capital Markets Day presentations The Capital Market Day
presentations will be available at www.boliden.com/cmd2014 from
13.00 (CET). The Capital Markets Day can be followed via a live
webcast on the same website, starting at 13.30 (CET).
Boliden is a metals company with a commitment to sustainable
development. Our roots are Nordic, but our business is global. The
company’s core competence is within the fields of exploration,
mining, smelting and metals recycling. Boliden has a total of
approximately 4,800 employees and a turnover of SEK 34 billion. Its
shares is listed on NASDAQ OMX Stockholm, segment Large Cap.
http://www.boliden.com
This information was brought to you by Cision
http://news.cision.com
BolidenMarcela SylvanderGroup Communications+46 8 610
1630+46 733 244551orSophie ArniusInvestor Relations+46 8
6101523+46 70 5908072
Bausch & Lomb (NYSE:BOL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bausch & Lomb (NYSE:BOL)
Historical Stock Chart
From Apr 2023 to Apr 2024