Boliden — Earnings Release 2014

Feb 10, 2012

Press Release 3/2012

Stockholm 10 February, 2012

Boliden starts silver recovery at the Kokkola smelter

Boliden is starting up a silver recovery process at its Kokkola zinc smelter in Finland. The annual volume of silver recovered will be approximately 25 tonnes, depending on the silver content of the raw material.

"The silver content of zinc concentrates has gradually increased over the years. This new process and the investment are, therefore, of great importance for the Kokkola zinc smelter, and will improve both the profitability and the raw material efficiency," says Jarmo Herronen, General Manager of Boliden Kokkola.

The new process will be integrated into the existing zinc production process. The silver content of the zinc raw materials will be processed to produce silver concentrate, which is a commercial intermediate product.

A total of EUR 27 million (SEK 250 million) will be invested and the project, which will start in April 2012, and production will start in the third quarter of 2014.

With its production capacity of 310,000 tonnes, Boliden Kokkola is the second largest zinc smelter in Europe and the sixth largest in the world. The majority of the zinc produced is sold to the European steel industry.

For further information, please contact:

Marcela Sylvander, Director Group Communications, Boliden AB, tel: +46 8 610 1559, +46 733 244 551 Frans Benson, Director Investor Relations, Boliden AB, tel: +46 8 610 1523 Jarmo Herronen, General Manager Boliden Kokkola, tel: +358 40 558 2270