Boliden — Capital/Financing Update 2009

Feb 2, 2009

Press Release 4/2009

Stockholm February 2, 2009

Boliden hedges USD

In January 2009, Boliden hedged part of its USD/SEK foreign exchange exposure. The hedge refers to the part of the metal production in 2009 and 2010 that was already hedged against USD*.

The currency exposure was hedged at average rates of USD/SEK 8.30 for 2009 and 8.26 for 2010. The hedging amounts to a total of USD 1,102 million, corresponding to substantial part of the currency risk for the two years.

"In combination with our previous metal price hedging, the foreign exchange hedging provides us with protection against a weakening in the US dollar against the Swedish krona," says Boliden's CFO, Johan Fant.

*Boliden has previously hedged the metal prices for most of its planned mine production of copper, lead, gold and silver for 2009 and 2010 (Boliden Interim Report jan-june 2008, Boliden press release, January 3, 2007).

For further information, please contact:

Johan Fant, CFO, Boliden AB, tel: +46 70 8195 919 Stefan Lundewall, IR, Boliden AB, tel: +46 8 610 1520, +46 70 208 3213

Boliden is a leading European metals company whose core competence is in the fields of exploration, mining, smelting and recycling. Boliden's main metals are zinc and copper. Other important metals extracted and refined include lead, gold and silver. The operations are conducted in three Business Areas: Market, Smelters and Mines. 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