BOLIDEN, Sweden, Oct. 24, 2019 /PRNewswire/ -- Revenues for the
period was SEK 11,170 m (12,510),
with an operating profit, excluding revaluation of process
inventory, of SEK 1,635 m (2,020).
Free cash flow amounted to SEK -653 m
(822).
"Investments are proceeding as planned and production in our
mines and zinc smelters has remained stable over the period.
However, the quarter has been affected by major maintenance
shutdowns in the copper smelters, a breakdown in the nickel line in
Harjavalta and some disruptions in the logistics between mines and
smelting plants", says Mikael Staffas, President and CEO.
The operating profit at Boliden Mines was unchanged at
SEK 1,091 m (1,091). Lower grades and
higher costs for mainly maintenance were compensated for by higher
metal prices in SEK. In Aitik, mill linings were replaced and
volume, both compared to the previous quarter and last year, were
reduced. The copper grade for the coming five quarters is estimated
to be 0.25 percent on average. The milled volumes in the Boliden
Area and Tara increased both compared with the second quarter and
last year, with Garpenberg noting a new milled volume record for
the quarter. Also in Kevitsa, the milled volume increased compared
to the previous quarter and last year, while the copper grade was
on par with the previous quarter but significantly lower than last
year. Mining production at Kylylahti was limited by technical
challenges as the mine proceeds towards end of life during the
second half of 2020.
The operating profit in Boliden Smelters excluding the
revaluation of process inventory increased to SEK 716 m (589). Higher metal prices, improved
zinc treatment charges and a stronger US dollar more than fully
compensated for the lower volumes and higher expenses attributable
to the maintenance shutdown in Rönnskär and the breakdown in the
nickel line in Harjavalta. Nickel production at Harjavalta was
resumed on 1 September. Kokkola's feed and zinc production was
higher compared with both the second quarter and last year thanks
to somewhat improved process stability. Also in Odda, feed and zinc
production were high. In Bergsöe the new plastic separation plant
began operations in the third quarter.
For further information, please contact:
Klas Nilsson
Director Group Communications
phone: +46-70-453-65-88
Boliden is a metals company with a focus on 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 5,800 employees and a turnover of SEK 50 billion. Its shares is listed on NASDAQ
OMX Stockholm, segment Large Cap. www.boliden.com
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SOURCE Boliden