Boliden Launches New Nickel Strategy
November 10 2014 - 4:15AM
Business Wire
Regulatory News:
Boliden (STO:BOL)(TSX:BLS):
Boliden will launch an independent nickel smelting business,
buying nickel concentrates from external suppliers and selling
nickel matte to nickel refineries. The annual production is
estimated to remain at 25,000 tonnes of nickel in matte.
The combined copper and nickel smelter, Boliden Harjavalta in
Finland, has been smelting nickel concentrates since the mid
1950’s. For several years Boliden Harjavalta has been smelting
nickel concentrates owned by external parties for a fee – a system
known as tolling. In 2013, approximately 250,000 tonnes of nickel
concentrates were processed into nickel matte, containing about
25,000 tonnes of nickel, for further treatment at external nickel
refineries. In connection with the current tolling contract
expiring, Boliden will change its nickel business model to more
resemble the model for the Group’s copper and zinc business.
Instead of processing nickel concentrates for customers Boliden
will buy concentrates from a variety of mines and sell the nickel
matte to nickel refineries.
The global market for nickel is approximately 2 million tonnes
per annum and the Chinese stainless steel producers are the most
important buyers. Global smelter capacity reductions and new nickel
mines coming on stream are expected to result in increased demand
for nickel smelting.
“The timing is good and the change of business model gives us an
exciting opportunity to start sourcing concentrates and supplying
the growing market. As the only nickel smelter in Western Europe,
Boliden Harjavalta is strategically positioned, with a short
distance to a port and the lowest sulphur dioxide emissions per
tonne of nickel of any nickel smelter in the world”, says Kerstin
Konradsson, President Boliden Smelters.
Boliden is a metals company with a commitment to sustainable
development. Our roots are Nordic, but our business is global. The
company’s core competence is within the fields of exploration,
mining, smelting and metals recycling. Boliden has a total of
approximately 4,800 employees and a turnover of SEK 34 billion. Its
share is listed on NASDAQ OMX Stockholm, segment Large Cap.
www.boliden.com
This information was brought to you by Cision
http://news.cision.com
Group CommunicationsMarcela Sylvander+46 8 610
1630+46 733 244551orSophie ArniusInvestor Relations+46 8
6101523+46 70 5908072
Bausch & Lomb (NYSE:BOL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bausch & Lomb (NYSE:BOL)
Historical Stock Chart
From Sep 2023 to Sep 2024