Boliden Starts Silver Recovery at the Kokkola Smelter

Regulatory News:

Boliden (STO:BOL)(TSX:BOL) 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.

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 4,400 employees and an annual turnover of approximately SEK 40 billion. Its shares are listed on NASDAQ OMX Stockholm, segment Large Cap, and on the Toronto Stock Exchange in Canada. www.boliden.com

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