BOLIDEN, Sweden, April 11,
2022 /PRNewswire/ -- Ongoing geotechnical
investigations in Aitik show the need to eventually change to a new
dam construction method to ensure long-term disposal of tailings.
In addition, there is a need to strengthen the current dam
construction to meet the best international industry standards. The
investments over the next two years are expected to lead to
increased investments of a total of SEK 5
billion, of which SEK 1
billion in 2022.
- A high level of dam safety is always our top priority. The new
direction naturally entails challenges in the short term, but it
also creates long-term opportunities in Aitik and a clear direction
for how the business can be developed going forward, says Mikael
Staffas, President and CEO of Boliden.
Normally, the dam structures at Aitik's tailings pond are built
and filled in line with production. In connection to ongoing
geotechnical surveys for future dam heightening, areas with poorer
soil conditions than previously estimated have been identified.
Additional dam heightening and deposition of tailings against dams
in these areas has therefore been suspended. In a first step,
existing dam structures will now be strengthened and certain
infrastructure will need to be moved. This is estimated to take
about two years, after which dam heightenings and deposition in
this area can be resumed.
Production in Aitik is not expected to be affected during this
time as tailings can continue to be deposited in other parts of the
tailings pond. The measures depend on environmental permits and
other approvals, but work can be started prior to the permitting
process.
For 2022, the total investments in the Group are now expected to
increase from previously communicated just over SEK 10 billion to just over SEK 11 billion.
This information is information that Boliden AB is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
Director Group Communication, at 08:00
CET on April 11, 2022.
For further information, please contact:
Klas Nilsson, Director Group
Communications, phone: +46 70-453 65 88
Mail: klas.nilsson@boliden.com
Due to this communicated press release, a telephone conference
for analysts will be held today at 09.00 Stockholm time zone. From Boliden, Mikael
Staffas, President and CEO and Håkan Gabrielsson, CFO,
participate.
To participate, please call 5 minutes before the opening of
the conference:
- from Sweden +46
856642651
- from United Kingdom +44
3333000804
- from United States
+1 6319131422
PIN Code: 69409035#
The presentation will be held in English
Boliden is a metals company with a focus on sustainable
development. Our roots are Nordic, our market global. Our core
competence lies within the fields of exploration, mining, smelting
and metal recycling. Boliden has around 6,000 employees and an
annual turnover of around SEK 70
billion. The share is listed in the Large Cap segment on
NASDAQ OMX Stockholm.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/boliden/r/decision-to-adjust-dam-construction-in-aitik,c3543838
The following files are available for download:
https://mb.cision.com/Main/997/3543838/1562592.pdf
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SOURCE Boliden