Full Year Report 2001

·The operating result for the fourth quarter amounted to -78 million SEK (-4 482 million SEK) and totalled -949 million SEK (-4 937 million SEK) for the year.

·Increased production at Rönnskär and a stronger US dollar had a positive effect on operating result, while lower metal prices, lower treatment and refining charges and reduced mining production had a negative effect on operating result.

·A write-up of Rönnskär took place at the turn of the year. The write-up did not have an effect on income for the year, but has increased shareholders' equity by a net amount of 2 066 million SEK.

·Boliden AB is the new parent company of the Boliden group, following the transfer of the corporate headquarters and legal domicile back to Sweden.

·Effective December 5, 2001, Boliden AB shares are listed on Stockholmsbörsen's O-list.

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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.