Boliden to acquire the Neves-Corvo and Zinkgruvan mines
BOLIDEN AB UNSP/ADR (BDNNY)
NASDAQ:AMEX Investor Relations:
boliden.com/investor-relations
Company Research
Source: PR Newswire
STOCKHOLM, Dec. 9, 2024 /PRNewswire/ -- Boliden has entered into a definitive agreement with Lundin Mining to acquire the Neves-Corvo mine in Portugal and the Zinkgruvan mine in Sweden. The upfront cash consideration for the entities is USD 1,300 m plus contingent payments that can reach up to USD 150 m, on a cash and debt-free basis. The transaction, that considerably strengthens Boliden's mine production as well as internal zinc and copper concentrate supply, is subject to customary regulatory approvals."The addition of two cash flow generative zinc and copper mines in Portugal and Sweden has a strong industrial logic as well as a strategic fit. Optimizing these well-invested units as well as developing the feed mix to our existing smelters will create short- and long-term value for both our Business Areas. Going forward we will also have greater development opportunities for near mine exploration in these attractive mining regions.", commented Mikael Staffas, President and CEO, Bol
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