Boliden granted deficit deduction of SEK 1.6 billion

On 12th March 2008, the Administrative Court of Appeal granted Boliden a deficit deduction of SEK 1,557 million. The value of the deficit deductions will increase the profit for 2008 by SEK 436 million.

As a result of the 2002 audit of Boliden Mineral AB's tax returns for the 1998-2002 financial years, the Swedish National Tax Board disallowed deductions made totalling SEK 2,043 million and imposed a tax surcharge of SEK 29 million on the company.

The County Administrative Court had previously accepted the Swedish National Tax Board's opinion and disallowed the deductions made. Boliden appealed this ruling to the Administrative Court of Appeal who held main proceedings in the case in January 2008. In its ruling of 12th March 2008, the Administrative Court of Appeal gave consent to the deductions made and removed the imposed tax surcharge.

The Administrative Court of Appeal's ruling stands, unless appealed to the Administrative Supreme Court, within two months. In order for the ruling to be tried the Administrative Supreme Court has to give leave to appeal.

 Boliden is one of the leading mining and smelting companies in Europe with operations in Sweden, Finland, Norway and Ireland. Boliden's main products are copper, zinc, lead and gold and silver. Exploration and recycling of metals are also important within the company. The number of employees is approximately 4,500 and the turnover amounts to approximately EUR 3.6 billion annually. Its shares are listed on Stockholmsbörsen's Large Cap list and on the Toronto Stock Exchange in Canada.
 				                                  
 						             
 www.boliden.com

For further information, please contact:
Carina Wång, Acting CFO, Boliden AB,
ph: +46 8 610 15 21, +46 70 539 7223
Eva Kaijser, SVP Investor Relations & Group Communications, Boliden AB,
ph: +46 8 610 15 60, +46 70 932 09 01

Downloads

More press releases & news

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.

The shareholders of Boliden AB (p

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.