Aug. 15, 2014 07:07 UTC

Boliden Kokkola Leaching Tank Accident

BOLIDEN, Sweden--(BUSINESS WIRE)-- Regulatory News:

Boliden (STO:BOL)(TSX:BLS):

Following a tank breakdown July 25, 2014, the production at the Boliden Kokkola zinc smelter is reduced due to repairs and inspections in the hot leaching facility.

“The accident did not result in injuries or environmental consequences. It was however severe and we are very concerned. We are now continuing to analyze the incident, evaluate the damage and verifying the inspection and repair work. Our estimation is that we will back in full production in September,” says Jarmo Herronen, General Manager Kokkola.

The accident in which one of Boliden Kokkola’s six hot acid leaching tanks broke down, has reduced zinc production to 85 per cent of its capacity during inspections and repairs. The silver recovery plant, which was recently commissioned, is fed with material from the hot acid leaching tanks and will consequently not be in production until the tanks are in operation again. The financial consequences from lost production and cost of repairs are estimated to be 7 MEUR and will impact the Group’s third quarter EBIT.

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 shares is listed on NASDAQ OMX Stockholm, segment Large Cap.

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Marcela Sylvander, Group Communication
+46 733 244551
Sophie Arnius, Investor Relations
+46 70 590 8072

Source: Boliden