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Boliden high expectations from Kevitsa nickel copper mine

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The nickel-copper-platinum group elements (PGE) mine is located approximately 142 kilometres northeast of Rovaniemi, the capital of Finnish Lapland.

Swedish metals company Boliden has made an agreement with First Quantum for the acquisition of the Kevitsa nickel-copper-gold-PGM mine in Northern Finland.

The total consideration of the transaction on a debt-free basis is 712 million US dollars in cash. The agreement is subject to approval by competition authorities in Finland, Sweden and Germany.

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“This is an attractive opportunity to acquire a high-quality mine with excellent operational and geographical fit with Boliden,” says Boliden’s president and CEO Lennart Evrell. “Kevitsa started production in the end of 2012 and is an early stage mine, which we believe can provide good synergies with our existing business in mining, concentrating, smelting and regional exploration. It also establishes a nickel feed base load for our Harjavalta smelter.”

The nickel-copper-platinum group elements (PGE) mine is located approximately 142 kilometres northeast of Rovaniemi, the capital of Finnish Lapland.

In 2015, the mine processed 6.7 Mtonnes of ore. Nickel and copper accounted for roughly 40 per cent each of net revenue, with gold, PGM and cobalt making up the remainder.

Altogether, the mine has 380 employees and around 200 contractors.

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