Boliden Freezes Kevitsa Expansion and Starts Talks After Finland Mining Tax Hike

Boliden AB ( (SE:BOL) ) has provided an update.

Boliden has initiated change negotiations at its Kevitsa mine in Finland after a fourfold increase in the country’s mining tax, a move that could affect up to 285 employees out of a workforce of just over 500. The company warns that contractors are also likely to be hit as it adapts operations to the new, less favorable fiscal regime.

The tax hike has also led Boliden to place on hold a planned investment of around EUR 1 billion intended to extend Kevitsa’s operations beyond 2034. The Kevitsa site is a major supplier of copper and nickel concentrates to Boliden’s Harjavalta smelter, meaning any scaling back or delay in development could have broader implications for the group’s supply chain and regional metal production.

The most recent analyst rating on (SE:BOL) stock is a Buy with a SEK763.00 price target. To see the full list of analyst forecasts on Boliden AB stock, see the SE:BOL Stock Forecast page.

More about Boliden AB

Boliden AB is a European producer of sustainable metals, operating across exploration, mining, smelting and recycling. The company focuses on key base metals such as copper and nickel, employs around 8,000 people, generates annual revenues of about SEK 90 billion, and is listed on the Large Cap segment of Nasdaq OMX Stockholm.

Average Trading Volume: 1,414,257

Technical Sentiment Signal: Buy

Current Market Cap: SEK196.3B

See more insights into BOL stock on TipRanks’ Stock Analysis page.