The Swedish mining and smelting company Boliden and the Nordic Investment Bank (NIB) have signed a loan of $100 million to finance investments at the Kevitsa mine in Finnish Lapland and the Rönnskär smelter in northern Sweden.
The eight-year loan will finance the expansion of mining activities at Kevitsa in northern Finland, where nickel, gold, copper, palladium, and platinum are mined. The open pit’s expansion will result in an output increase of nearly 20%.
Further, Boliden is investing in a new leaching plant at the Rönnskär copper smelter in northern Sweden. The plant will extract metal from residual material. About 50,000 t of waste that is generated by the smelter operations will be upgraded each year and transformed into an additional output of lead sulfate and copper/zinc sulfate.
“Mining plays an important role in economic output, employment, and labor productivity in the Arctic region. The investments will boost competitiveness and resource efficiency and will help Boliden to process waste material more efficiently”, says Henrik Normann, NIB President & CEO.