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2014-05-06

Boliden: Boliden's quarterly results - production stable but prices lower

Boliden's revenues for the first quarter of the year totalled SEK
8,550 million (SEK 9,249 m) and the operating profit, excluding
revaluation of the process inventory, fell to SEK 385 million (SEK
751 m) due to lower metal and sulphuric acid prices.

"The aspects over which we have control - production and costs - have
made good progress during the quarter. Metal and sulphuric acid
prices are, however, low and the result as a whole was consequently
weak. On the plus side, however, we were able to begin trial runs of
the new facilities at Garpenberg as early as March and production has
already begun there. The plan is to produce 2.5 million tonnes per
year at Garpenberg when the facilities are operating at full capacity
at the end of 2015," says Boliden's President & CEO, Lennart Evrell.

Boliden's Board of Directors has today approved an investment of SEK
600 million in order to enable a further expansion of the Aitik mine
to 45 million tonnes per year. The investment regards replacement and
upgrading of crushers, the strengthening of water pumping, and a new
electrical substation for the mine's electricity supply. A new ore
base calculation has been made for Aitik with an increase in the
mineral reserve to 1,085 (633) million tonnes.*

"In addition to the ongoing and new expansion projects, we are also
focusing on continued improvements to production and costs at
Rönnskär. The action plan for Rönnskär includes measures designed
both to improve process stability and to cut costs," says Lennart
Evrell.

* See updated mineral resources and mineral reserves at:
www.boliden.com/mineralreserves
(http://www.boliden.com/mineralreserves%20)

For further information, please contact:
Marcela Sylvander, Group Communications, +46 733 244 551
Sophie Arnius, Investor Relations, + 46 8 610 1523

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 approximately SEK 34
billion. Its share is listed on NASDAQ OMX Stockholm, segment Large
Cap.

www (http://www.boliden.com).boliden.com (http://www.boliden.com)
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http://news.cision.com/boliden/r/boliden-s-quarterly-results---productio...
http://mb.cision.com/Main/997/9579661/240902.pdf

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