Annual Report 2003

New Boliden is an international mining and smelting company that mines, smelts and refines copper and zinc, lead, gold and silver. The company has approximately 4,900 employees who are mainly based in six countries - Sweden, Finland, Norway, Ireland, the Netherlands, and Canada. The company's share is listed on the O-list of the Stockholm Stock Exchange and on the Toronto Stock Exchange. New Boliden's operations are conducted by three Business Areas, namely Mining Operations, Copper and Zinc.

New Boliden is one of the world's leading copper and zinc smelting companies and is also the fourth largest zinc mining company in the world. New Boliden was formed on 1st January 2004 through the merger of Boliden's and Outokumpu's mining and smelting operations. Pro forma net sales for 2003 totalled SEK 14.5 billion.

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Consequences of abnormal seismic activity at the Garpenberg mine

The abnormally high seismic activity in Garpenberg has decreased and mining production at low levels will commence in the second quarter. The first quarter throughput was just under 0.8 Mton instead of the expected slightly over 0.9 Mton at already communicated grades. All inspections are not yet complete but production in the most affected part of the mine is not expected to resume in 2026. Until further notice, Garpenberg's production is therefore estimated to be around 30 percent of the guided capacity of 3.7 Mton per year. For the first quarter of 2026, EBITDA will be negatively affected by approximately SEK -400 million at today's prices and terms.

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Invitation to the Annual General Meeting of Boliden AB (publ)

The shareholders of Boliden AB (p

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Boliden's capital market update: Future-focused investments in Garpenberg and Rönnskär

Boliden has decided to invest in a new hoist system at Garpenberg and an industrial demonstration plant for the production of supplementary cementitious material at Rönnskär. The investments, which amount to SEK 4 billion and SEK 1.5 billion respectively, will strengthen the earnings capacity of both units and lay the foundation for exploiting further future opportunities.

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