Boliden's new Kevitsa mine plan extends the life of the mine
The average Mineral Reserve grade is estimated to increase to 0.22% (previously 0.20%) for nickel while the copper grade remains unchanged at 0.31%.
The grades for nickel and copper for 2025 are estimated at 0.17% and 0.23% respectively.
"The reason for temporarily lower grades is a new and improved mine plan that requires mining in some low-grade areas in order to reach better positions in the future," Boliden states.
Furthermore, the timing of a decision on a possible Omtag 5 project has been moved forward a couple of years.
- "We are pleased to announce that we have been able to improve the overall mine plan for Kevitsa. As a result, we not only increase the Mineral Reserves and ensure an extension of the mine life, we have also been able to optimize production in a way that moves the decision point for a possible Omtag 5 project up to a couple of years ahead. However, it is important to emphasize that European policy makers should act more decisively to protect the internal nickel value chain from unfair and unsustainable competition," said Stefan Romedahl, Director Business Area Mines.
In 2024, a comprehensive Mineral Resource estimate has been carried out, resulting in a new mine plan and updated Mineral Reserves. In total, 25 million tons have been added to the Mineral Reserve. In 2024, a total of 9.85 million tons were mined, which means that the net increase in Mineral Reserves will be 15 million tons (19 percent).
The increase results in an extension of the mine life to a total of 10 years, given a production rate in line with the environmental permit of 10 million tons per year.
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