Swedish compay Boliden grows in neighboring Finland. Photo: Boliden.com

Finnish mine gets Swedish owner

Metals company Boliden buys the Kevitsa nickel-copper-platinum mine in Finnish Lapland from First Quantum for $712 million.
March 11, 2016

«This is an attractive opportunity to acquire a high-quality mine with excellent operational and geographical fit with Boliden», company President and CEO says in a press release.

«The timing of the acquisition fits us well. Boliden has executed substantial expansion projects in recent years and is ready to take on a new major project. Together with the Kokkola and Harjavalta smelters and the Kylylahti mine, the acquisition of Kevitsa will expand Boliden’s platform in Finland, an attractive geological region», Lennart Evrell adds.

The Kevitsa mine in 2015 produced a total of 8,805 tonnes of nickel, 17,204 tonnes of copper, 12,847 ounces of gold, 31,899 ounces of platinum and 25,196 ounces of palladium. 

It represents one of the largest nickel reserve in Finland with reserves estimated to 237,4 million tons of ore grading 0,3 percent nickel.

Kevtisa is located about 142 km north-northeast of Rovaniemi, the regional capital of Finnish Lapland. The mineral rights to the Kevitsa property were acquired in 2008.

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