The Environmental Court announced today that Boliden has been granted a permit to com-mence expansion of the Aitik mine, from current annual production of 18 million tonnes to 36 million tonnes.
In its ruling, the Environmental Court declares that the operation which Boliden has applied for is permissible. The court is also granting Boliden permission to immediately construct certain roads and carry out fundation work for industrial areas etc.
In October 2006, Boliden's Board of Directors approved the investment of SEK 5.2 billion in expand-ing operations at the Aitik copper mine outside Gällivare, Sweden. In addition to the modern new con-centrator that will provide double the ore production capacity, the investment will also provide, among other things:
· Improved competitiveness and a substantially lower cash cost
· A tripling of ore reserves from 200 to 600 million tonnes
· An extension of the mine's lifespan from 2016 to 2025
· Increased production of copper, gold and silver, and new production of molybdenum
· Improved energy and environmental performance
· The potential for further expansion in the future
The main proceedings regarding Boliden's application will be held on 7th and 8th November, after which, the Environmental Court will decide on conditions for emissions, noise and other environ-mental impact from the expanded operations. At that time, a ruling will also be made regarding the is-sue of economic guarantees for reclamation costs.
Svante Nilsson, Acting President and CEO, Boliden AB, tel +46 8-610 1527, +46 70-583 3278
Eva Kaijser, Senior Vice President, Investor Relations and Group Communications, Boliden AB, tel. 46 8-610 1560, +46 709-320 901