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Boliden

#1813

Rank

$9.22B

Marketcap

SE Sweden

Country

Boliden
Leadership team

Mr. Mikael Staffas M.Sc., MBA (Pres & CEO)

Mr. Håkan Gabrielsson (Chief Financial Officer)

Mr. Göran Kördel (Chief Information Officer)

Products/ Services
Mining, Precious Metals
Number of Employees
1,000 - 20,000
Headquarters
Stockholm, Stockholms Lan, Sweden
Established
1924
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
BOL.ST
Social Media
Overview
Location
Summary
Boliden AB (publ) engages in the exploring, extracting, and processing of base metals and precious metals in Sweden, other Nordic region, Germany, the United Kingdom, the rest of Europe, North America, and internationally. The company operates through two segments, Business Area Mines and Business Area Smelters. It explores for copper, zinc, nickel, lead, gold, silver, cobalt, tellurium, platinum, and palladium deposits. The company operates the Aitik, the Boliden Area, and Garpenberg mines in Sweden; the Tara mine in Ireland; and the Kevitsa mines in Finland. Its products include zinc and lead ingot, copper cathode, gold bar, and silver granule, and other products, such as sulphuric acid; copper, lead, nickel, and zinc concentrates; and by-products, including copper sulphate, zinc clinker, iron sand, copper telluride, selenium, nickel matte, and crude nickel sulphate, as well as palladium, platinum, rhodium, iridium, ruthenium, and osmium concentrates. The company sells its metals primarily to industrial customers, as well as construction, electronics, and automotive industries; and paper manufacturers. Boliden AB (publ) was founded in 1924 and is headquartered in Stockholm, Sweden.
History

On 10 December 1924, a sensational ore deposit was discovered at Fågelmyran, just over 30 km northwest of Skellefteå. Test drilling revealed what was then Europe's richest ore. The first Boliden ore was extracted in the spring of 1926 at what would become the Boliden mine – a mine that would prove, over the course of several decades, to be Europe's biggest and richest gold mine. The deposit also included copper and large amounts of silver. The town of Boliden quickly grew up around the mine.

The leading light in the development of the Boliden company was Oscar Falkman , who was the driving force behind the exploration work that began in the second decade of the 20th century, and which was accelerated due to the metal shortage that arose in the wake of World War I. Falkman continued in the role of Boliden's President until 1941. Boliden AB was also part of the financier Ivar Kreuger's business empire until 1932.

The Rönnskär smelter was built to process the Boliden ore, and commenced smelting operations in 1930.

The world's longest ore tramway, between Boliden's mine in Kristineberg and Boliden became operational in 1943. The ore tramway was 96 km long and by the time it was shut down, 44 years later, it had transported 12 million tonnes of concentrate.

Operations started at the Aitik mine, outside Gällivare, in 1968. This open pit mine would develop, over the years, into one of Europe's biggest copper mines. During its first year of operations, it produced approximately 9,000 tonnes of copper, 160 kg of gold and 7 tonnes of silver.

The company grew during the first few years of the 1970s thanks to a joint venture with the German company, Preussag. This led to the expansion of Boliden's lead smelting and refining capacity, and in 1976, Boliden launched a Kaldo type furnace, for processing metals. 1976 also saw Boliden launch the first flash smelting furnace for lead, applying Kaldo technology, at Rönnskär.

In the mid-1980s, Boliden exported a total of 19,139 tonnes of metallic residues containing high concentrations of arsenic, mercury, cadmium and lead, from the Rönnskär smelter to a Chilean company, Promel, for processing. Boliden paid Promel for processing work that was never carried out and the residues were, instead, stored on the outskirts of the city of Arica at a site which was converted to a low-cost residential area in the 1990s on the instructions of the social services. The original export documents had specified that the metallic residues were 'non-toxic' and residents were unaware of the waste's presence or potential for harm. As a result, many people came to harm. In the autumn of 2009, the Chilean government announced that the 7,000 or so residents of the area would be evacuated. The waste was exported before the Basel Convention prohibiting the export of environmentally hazardous waste came into force.

At the end of 1986, the Trelleborg industrial conglomerate acquired a controlling interest in Boliden. The same year also saw Boliden acquire the Spanish company, Apirsa S.L., which extracted zinc from the Aznalcóllar open pit mine, 45 km west of Seville.

Trelleborg launched a major restructuring of the Boliden Group in 1996, and the new company, Boliden Limited, was formed in Toronto. Two years later, Boliden Ltd. bought the Canadian company Westmin.

On 25 April 1998, the tailings dam at Apirsa's Los Frailes mine burst and 4.5 million cubic metres of tailings sand drained out into the nearby Guadiamar river, near Doñana National Park, causing the worst environmental disaster in Spain so far. Extensive investigations revealed defects in both the dam's original construction and in subsequent construction projects. The company reacted quickly to the situation and immediately began a comprehensive programme of reclamation work. In 2006, Boliden lost the demand against the companies that built the dam Aznalcóllar. The Spanish Supreme Court also confirmed that Boliden should pay 43,7 million euros to the Spanish government. The recovery costs of Aznalcóllar are estimated to be 240 million euro; Boliden has not assumed any part of these costs.

In 1999, Boliden implemented a restructuring programme at Group level and the Boliden share was listed on the Stockholm stock exchange.

In 2001, Boliden's head office was relocated back to Sweden.

In late 2003, Boliden bought smelters and a mine from the Finnish steel group, Outokumpu, and as a result, the Kokkola and Harjavalta/Pori smelters in Finland and the Odda smelter in Norway became part of Boliden. The purchase also included the Tara zinc mine in Ireland.

In 2020, Boliden Mineral AB became the first company in Sweden to issue a Strategic Lawsuit Against Public Participation.

QWERTYUIOP in brief

2021

Boliden was ranked no. 18 out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index .2020

On 2 September, Boliden Mineral AB, represented by the law firm Mannheimer Swartling Advokatbyrå AB, filed a complaint to the Disciplinary Committee of the Swedish Bar Association against lawyers Mr Johan Öberg and Mr Göran Starkebo. The complaint, seeking to make them personally liable for costs incurred by Boliden in defending the ARICA case was considered by the United Nations to be a threat equivalent to the first SLAPP in Swedish history.

2016

Boliden was ranked as being among the 13th best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.2013

796 residents of Arica brought a legal case against Boliden in the Swedish courts2006

Decision to invest in an expansion of the Aitik mine. Agreement with OM Group Inc regarding the refining of nickel concentrate at Harjavalta. Successful exploration resulted in increases to Garpenberg's ore reserves. A new lead section was also opened at Bergsöe.

2005

Kvarnberget is the name given to a new mineralisation discovered in Garpenberg. Decision to invest in expansion of the Harjavalta smelter. Feasibility study of possible expansion of the Aitik mine. Boliden sells its shares in Breakwater Resources and Lundin Mining. First edition of Boliden's in-house magazine, "Boliden Magazine", published.

2000

Harjavalta's nickel operations are sold. Maurliden mine opens. The new Rönnskär complex is inaugurated.

1998

The Spanish Los Frailes mine closes as a result of the tailings dam failure, causing extensive damage in the environment, near Doñana National Park. The Rönnskär +200 expansion – an investment of SEK 1.9 billion – is approved.

1997

Boliden establishes its head office in Toronto. The share is listed on the Toronto and Montreal stock exchanges.

1995

Harjavalta is expanded, increasing copper and nickel production.

1990

The concentrator at Boliden is expanded and modernised. The Outokumpu Group is incorporated, and the zinc smelter becomes known as Outokumpu Zinc Oy and the copper and nickel smelters as Outokumpu Harjavalta Metals Oy.

1988

The Spanish mining company, Apirsa SL, becomes a subsidiary of Boliden.

1987

The Swedish industrial conglomerate, Trelleborg AB, takes a controlling interest in Boliden.

1985

Boliden ceased shipping toxic waste to northern Chile.1984

Boliden began shipping 19,139 tonnes of toxic waste, containing high concentrations of arsenic, mercury and lead, from its smelter in Sweden, to Arica in northern Chile.1979

Boliden buys Paul Bergsöe & Son.

1977

Production starts at the Irish zinc mine, Tara.

1970

Production of aluminium fluoride begins at Odda. In Ireland, Tara discovers the big zinc and lead deposit.

1969

Operations begin at the zinc smelter in Kokkola.

1968

Mining operations start at Aitik.

1967

The Boliden mine is closed down. Outokumpu decides to establish its own zinc smelter in Kokkola.

1957

Boliden acquires the Garpenberg mine from Zinkgruvor AB.

1955

The world's deepest railway – between the Långsele and Boliden mines – is completed.

1952

Construction of a sulphuric acid plant at Rönnskär to exploit the sulphur dioxide-bearing chimney gases.

1946

Boliden publishes Sweden's first in-house magazine, "Smältdegeln" .

1945

Copper production starts at Harjavalta.

1943

The 96-kilometre ore tramway between Kristineberg and Boliden opens. Tin and lead smelting starts at Bergsöe.

1942

Lead plant built at Rönnskär. Paul Bergsöe & Son AB formed in Landskrona.

1940

Operations start at the Kristineberg mine.

1939

Outokumpu Oy starts extracting zinc concentrate from Outokumpu ore.

1931

The two mining companies – Västerbottens Gruvaktiebolag and Skellefteås Gruvaktiebolag – are merged to form Bolidens Gruvaktiebolag.

1930

Operations start at the Rönnskär smelter.

1929

Zinc production begins at Odda.

1925

Västerbottens Gruvaktiebolag and Skellefteå Gruvaktiebolag are formed.

1924

Gold discovered at Fågelmyran in Boliden.

Dumping in Chile

In the mid-1980s, Boliden was involved in a dumping controversy in Chile. According to Business & Human Rights Resource Centre, "Boliden shipped approximately 20,000 tonnes of smelter sludge to the Polygono area in Arica between 1984 and 1985. The waste derived from Boliden's Rönnskär arsenic plant in Sweden and was sold to a Chilean company, Promel, for processing. However, the waste was reportedly left unprocessed and unprotected at the site until 1998. Starting in 1989, housing developments were built nearby, but Chilean authorities concluded in 2009 that the area should be evacuated as it remained contaminated."

The Boliden controversy in Chile stirred debate in the Swedish news in 2013, after 700 Chilean victims suffering from arsenic poisoning filed a lawsuit against Boliden.In March 2021, Beatriz Balbin, Chief of the Special Procedures Branch of OHCHR wrote to the managing director of Boliden to convey alleged ongoing breaches of human rights, including ‘intimidation and threat human rights defenders’.

Letters relating to the case, which dates back to Boliden’s export of 19,139 tonnes of toxic waste containing high concentrations of arsenic, mercury, cadmium and lead from Sweden to Chile between 1984 and 1985.

June 2021, a feature documentary film ARICA was released in Swedish cinemas

The Boliden toxic waste scandal was discussed in Swedish parliament where the Minister of Environment, Per Bolund indicated his willingness to discuss assistance to Chile to clean up the affected areas in Arica, saying:

“We have … much sanitation work of our own, on which we are spending lots of resources.

That means that we are developing techniques and solutions and we are of course willing to assist Chile if such aid is asked for.

We have had no such request from Chile.”

Video

The quote was immediately referred to in Chilean media and followed by a demand from a senate majority to the president to address Sweden with a request, as Per Bolund had asked for.

Senado exige al Gobierno repatriar residuos tóxicos a Suecia | Crónica

The then Chilean Minister of Foreign Affairs, Andres Allamand, announced in public that Sweden would be contacted in the matter.

Chile pedirá al gobierno sueco repatriar desechos tóxicos de basural industrial en Arica

On July 4, 2021 SVT screened the documentary ARICA. Two Swedish Green Party MP’s, Maria Gardfjell, vice chair in the parliament’s environmental and agricultural committee, and Amanda Palmstierna, member of the parliament’s EU-committee, made a statement confirming the comments made in June by the Minister of Environment Per Bolund.

Giftskandalen i Arica är hänsynslös

Arica - en svensk giftskandal

See also the Doñana disaster, caused by negligence on the part of Boliden-Apirsa.

In media and popular culture

The Aitik copper mine was featured on a 2007 episode of the Discovery Channel series "Really Big Things".

Released in 2014, Swedish director Roy Andersson's film A Pigeon Sat on a Branch Reflecting on Existence includes a controversial scene which, according to the director, refers to Boliden's involvement in dumping dangerous toxins in the Chilean city Arica in the 1980s. In a review of the film, film critic Jessica Kiang describes the scene: "And in probably the most unsettling and memorable scene, which plays out like a live action Monty Python animation, colonial-era British soldiers pack a huge brass drum outfitted with trumpet horns of varying sizes with chained black slaves. The door is closed, and a fire is lit beneath the drum, which begins to revolve slowly and to emit a kind of music. All this, it is revealed, is being enacted for the entertainment of a group of elderly rich, champagne-sipping white people in evening wear."The smelting victims in Arica is also the topic of Toxic Playground, a Swedish documentary by William Johansson and Lars Edman released in 2009.In 2021, the topical satirical show Svenska Nyheter included a 12 minute segment about the ARICA case, with a resident of Arica gathering a sample of contaminated soil, putting it in an envelope and mailing it back to Boliden.

Carbon footprint

Boliden reported Total CO2e emissions for 31 December 2020 at 897 Kt . There has been a consistent declining trend in reported emissions since 2016.

See also

List of Swedish companies

Doñana disaster, caused by negligence on the part of Boliden-Apirsa.

References

External links

Official website

Mining technology descriptio

Mission
Boliden’s mission is to create shared value for our stakeholders – customers, employees and shareholders – through the responsible and sustainable use of natural resources.
Vision
We strive to be the best performing metals company in terms of safe and responsible operations, quality and reliability, and profitable growth.
Key Team

Mr. Olof Grenmark (Director Investor Relations)

Mr. Klas Nilsson (Director of Group Communications)

Mr. Lars-Göran Björkqvist (Head of New Bus. Area Zinc Smelting Operations)

Gunnar Agmalm (Head of Ore Base & Project Evaluation)

Mr. Stefan Romedahl (Pres of Boliden Mines)

Mr. Daniel Peltonen (Pres of Boliden Smelters)

Recognition and Awards
Boliden has been recognised by various industry awards, including the Responsible Mining Index for 2018-2019 and was awarded the Mining Journal’s Mine of the Year 2019.
References
Boliden
Leadership team

Mr. Mikael Staffas M.Sc., MBA (Pres & CEO)

Mr. Håkan Gabrielsson (Chief Financial Officer)

Mr. Göran Kördel (Chief Information Officer)

Products/ Services
Mining, Precious Metals
Number of Employees
1,000 - 20,000
Headquarters
Stockholm, Stockholms Lan, Sweden
Established
1924
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
BOL.ST
Social Media