BOLIDEN, Sweden, Feb. 11, 2022 /PRNewswire/ -- In Aitik,
Garpenberg and Kevitsa, the situation with Mineral Resources and
Mineral Reserves is good. During the year, significant additions
were made to the Mineral Resources in Garpenberg and in Tara. The
annual mining reduces the Mineral Reserve and what has been mined
has been able to be fully replaced in Garpenberg and in the
Kristineberg mine in the Boliden Area. A new Mineral Resource in
Strömfors, the Boliden area, was announced in March 2021.
"Significant Mineral Reserves at several of our mines in
combination with additional opportunities being identified are of
course very positive. In parallel with our own exploration, the
collaborative projects we have been involved in have been carried
on", says Stefan Romedahl, director Business Area Mines, Boliden.
The cost of exploration in 2021 was SEK
629 m (504).
Aitik
In Aitik, work continues on preparing the Liikavaara deposit,
approximately 3 km northwest of Aitik, for mining. Exploration and
evaluation are also underway at the Nautanen deposit, approximately
15 km north of Aitik. In Aitik, including Liikavaara, the Mineral
Reserve largely decreases with what was mined during the year, 40.1
Mton. Mineral Resources in Liikavaara increase by 7 Mton. In Aitik,
no new calculation of Mineral Resources has been made in 2021 and
the figures from last year remain. Boliden needs new permits for
the expansion of tailings and volumes for which we currently lack
permits are not classified higher than Probable Mineral Reserve.
For Nautanen, a calculation was made in 2020 that was not updated
in 2021 and last year's Mineral Resource remains.
The Boliden Area
In the Boliden Area, a new Mineral Resource is added in
Strömfors. In addition, parts of Rävliden have been converted to
Mineral Reserve. This means for the entire area that both Mineral
Resources and Mineral Reserves increase by 4 and 9 percent
respectively. In 2021, 1.6 Mtons were mined and milled.
Garpenberg
Garpenberg has very good foresight regarding Mineral Resources
and Mineral Reserves. Exploration and technical studies have been
successful during the year. Mineral Resources have increased by 17
Mton (27%) and the Mineral Reserve has increased by 4.2 Mton (5%).
In 2021, 3.1 Mton was milled in Garpenberg.
Kevitsa
In Kevitsa, 9.5 Mtons were mined and milled in 2021. Some minor
additions due to design changes and infill drilling led to a
reduction in the Mineral Reserve by only 4.6 Mtons
(4%). The drilling campaign that ended in
2021, to fill gaps in the borehole pattern and investigate
possibilities for a further retake, unfortunately led to a
reduction in the Mineral Resource. Mineral Resources, which are
tonnage outside the now planned final open pit (Mineral Reserve),
decreased by 41 Mton (23%).
Tara
In Tara, both the production and the investigations of the
mineralization Tara Deep were hit by
a major setback in late 2021. A large inflow of water temporarily
stopped production and leads to delays for the investigations of
Tara Deep with underground drilling.
The drilling from the surface has been successful and Tara Deep is now estimated at 28 Mton Inferred
Mineral Resource. An increase of 2 Mton in 2021. In Tara, 2.1 Mton
was milled in 2021 and the Mineral Reserve decreased by about the
same amount.
Calculation of Mineral Resources and Mineral Reserves,
2021
Boliden reports Mineral Resources exclusive of Mineral Reserves.
This means that quantities converted to Mineral Reserves are
removed from Mineral Resources. Boliden follows the recommendations
of the Swedish Mining Association (SveMin) for reporting
exploration results, Mineral Reserves and Mineral Resources and
strives to report according to the Pan-European Reserves and
Resources Reporting Committee (PERC). The PERC standard has clear
requirements for documentation and the Competent Persons who must
evaluate the information that companies report. All summarizing
reports for Mineral Resources and Mineral Reserves per project and
mine published on Boliden's webpage are reviewed and approved by
Competent Persons presented in the report. This summary of Mineral
Resources and Mineral Reserves has been reviewed and approved by
Gunnar Agmalm, Competent Person and Head of Ore Reserves and
Project Evaluation, Boliden, which is a member of The Australasian
Institute of Mining and Metallurgy (AusIMM) and The Fennoscandian
Association for Metals and Minerals Professionals (FAMMP), both of
which are approved organizations for competent persons according to
PERC.
Planning prices Long-term prices 2021
Change compared to 2020
Zinc USD 2,400/metric ton
Copper USD 6,800/metric ton +200
Nickel USD 16,000/metric ton
Lead USD 2,100/metric ton
Gold USD 1,300/tr. oz
Silver USD 17/tr. oz
Palladium USD 1,300/tr. oz +100
Platinum USD 900/tr. oz -100
Cobalt USD 20/lb
Tellurium USD 35/kg +5
Molybdenum USD 8/lb
USD/SEK 8.0
EUR/SEK 9.35
EUR/USD 1.17
For further information, please contact:
Klas Nilsson, Director Group
Communications,
phone: +46 70-453 65 88
Mail: klas.nilsson@boliden.com
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 Communications, at 07.49 CET on February 11, 2022.
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 annual
sales of approximately SEK 70
billion. The share is listed in the Large Cap segment on
NASDAQ OMX Stockholm.
This information was brought to you by Cision
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The following files are available for download:
https://mb.cision.com/Main/997/3504533/1533596.pdf
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Appendix Mineral
Resources and Mineral Reserves 2021 (EN)
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https://mb.cision.com/Public/997/3504533/81f1be9f5a8795f7.pdf
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Press release
(EN)
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SOURCE Boliden