Boliden Odda AS and Norwegian power company Statkraft have entered into agreements for the supply of electricity for the periods 2009-2020 and 2021-2030. The total quantity of electricity supplied under both contracts amounts to 900 GWh/year.

"The agreements ensure Boliden's access to a dependable and long-term supply of electricity, at predictable prices, for the Odda zinc smelter - which will obviously help to boost the smelter's competitiveness," says Svante Nilsson, President of Business Area Smelters at Boliden.

As a part of the agreements, Boliden's 39.88 per cent stockholding and the associated electricity rights in the power company AS Tyssefaldene will transfer to the Norwegian power company Statkraft.

The agreements, which require the approval of the Norwegian authorities, among other things, are expected to come into force on 1 January 2009.

For further information, please contact:

Svante Nilsson, President Business Area Smelters, Boliden AB, ph: +46 8 610 15 00
Börge Hauge, Managing Director, Boliden Odda, ph: +47 53 64 9447, +47 90 17 1143
Marcela Sylvander, Information Manager, Boliden AB ph: +46 8 610 1559, +46 733 244 551