Boliden Slashes Garpenberg Output After Seismic Damage, EBITDA Hit Looms

An announcement from Boliden AB ( (SE:BOL) ) is now available.

Boliden has reported that abnormal seismic activity at its Garpenberg mine has eased, allowing mining to restart at low levels in the second quarter, but first-quarter throughput fell to just under 0.8 Mton versus expectations of slightly over 0.9 Mton. The company estimates that its first-quarter 2026 EBITDA will be hit by around SEK 400 million, highlighting a material near-term financial impact from the disruption.

Inspections show that core mine infrastructure such as crushers, hoisting systems and workshops remain largely intact, while ventilation, compressed air, water management, electrical systems and backfill paste have suffered damage requiring weeks of repairs. Because severe damage in the upper parts of the key Lappberget ore body will keep those areas offline through 2026, Garpenberg’s output is now expected to run at roughly 30 percent of its 3.7 Mton annual capacity, with slightly lower zinc grades but improved silver grades.

Boliden plans to restart production from less-affected sections of Lappberget and from the mine’s two other ore bodies at an initial rate of about 100 ktonnes per month, with the possibility of increasing throughput in the second half of the year. The prolonged loss of capacity at one of Boliden’s major mines underscores operational risk in deep underground mining and could temporarily constrain metal supply from the site, with implications for both earnings and customers dependent on Garpenberg’s zinc and silver output.

The most recent analyst rating on (SE:BOL) stock is a Buy with a SEK597.00 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, mines, smelters and recycling, with about 8,000 employees and annual revenues of roughly SEK 90 billion. The company, listed on the Large Cap segment of Nasdaq Stockholm, focuses on climate-friendly metal production under the values of care, courage and responsibility.

Average Trading Volume: 1,476,357

Technical Sentiment Signal: Strong Buy

Current Market Cap: SEK159.4B

For an in-depth examination of BOL stock, go to TipRanks’ Overview page.