Zinkgruvan is an underground zinc-copper-lead-silver mine with its own processing plant, located near Askersund.
The news in brief:
- Boliden acquires the Zinkgruvan in Askersund and the Neves-Corvo mine in Portugal from Lundin Mining for over 14 billion kronor.
- The acquisition will increase Boliden's access to zinc and copper, which creates both short-term and long-term value, according to the company's CEO Mikael Staffas.
- The transaction is expected to be completed in mid-2025 and will contribute positively to earnings per share.
- Boliden expects that the acquisition will improve Boliden's results annually by 300-350 million US dollars, which corresponds to approximately 3.3-3.8 billion kronor
- The acquisition will result in a significant increase in the production of metals, by 95 percent for zinc and 43 percent for copper, based on production figures for 2023.
- Post completion in mid-2025, Boliden will operate seven mining areas and five smelters, mainly focused on the value chains for zinc and copper. Out of the seven mining areas, four are located in Sweden and one each in Finland, Ireland and Portugal.
- This acquisition consolidates Boliden’s position as one of Europe’s biggest producers of zinc, a metal mainly used in galvanizing steel, guaranteeing long-term mine supply for the company’s smelting operations in Scandinavia.
