Interim Report, January - June 2002

Boliden reports improved cash flow and positive result for second quarter 2002

•Boliden reports a profit of SEK 21 million (-624 million) after financial items for the first half of 2002. This indicates an improvement of SEK 1 195 million, excluding operations that have been sold or shut down, as well as items affecting comparability (IAC).

•The operating profit for the first half of 2002 amounted to SEK 173 million (154 M). This indicates an improvement of SEK 569 million, excluding operations that have been sold or shut down, as well as items affecting comparability (IAC).

•Cash flow from current operations amounted to SEK 78 million. This indicates an improvement of SEK 860 million compared with the same period last year. The improvement between the first and second quarters 2002 amounted to SEK 470 million.

•An extensive mineralization was discovered at 'Lappberget' near Garpenberg. It indicates the potential for substantial volumes and high grades of mainly zinc, lead and silver.

•Commercial production has begun at the Storliden mine.

•The current prices of Boliden's main metals are expected to improve as a result of increased demand in combination with diminished supplies on the metal market.

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"The zinc and silver deposit Garpenberg continues to deliver good results, this year was no exception. At the same time we are also starting to get positive results from a more focused exploration strategy at and around the mines in the Boliden Area," says Stefan Romedahl, President Business Area Mines.

"In the last quarter of the first century of Boliden's operations, we are once again showing that we have a fundamental stability in both our business areas. Among our mines, the general development is particularly positive in the Boliden Area as well as Garpenberg. In our smelting operations, our Finnish units are again showing the greatest strength." - Mikael Staffas, President and CEO

Boliden's Extraordinary General Meeting was held on January 23, 2025 live in Stockholm and through postal voting.