Boliden, the Swedish mining company, is close to finalizing a deal to acquire two mines—Zinkgruvan in Sweden and Neves-Corvo in Portugal—from Lundin Mining, according to a Bloomberg report citing sources familiar with the discussions. If completed, this acquisition would bolster Boliden’s position as one of Europe’s leading zinc producers and secure a steady supply of ore for its smelting operations in Scandinavia.
Although the deal is reportedly in its final stages, the sources emphasize that there is no certainty it will be finalized. Lundin Mining, based in Vancouver, has been working to divest these two assets, which are among the company’s oldest and contribute roughly 20% of its revenue. The move is part of Lundin’s broader strategy to raise capital for the development of copper projects in South America, including its collaboration with BHP on the Filo and Josemaria copper projects.
In a related development, Boliden’s operations are also expanding into new technologies. In September, the company partnered with Sandvik Mining and Rock Solutions at its Kevitsa mine in northern Finland to conduct field tests on a battery-electric concept surface drill rig. This aligns with Boliden’s commitment to automation, electrification, and remote-control technologies in its mining operations.
This deal, along with other technological initiatives, underscores Boliden’s ongoing efforts to strengthen its position in the global mining industry, particularly in the production of zinc and other base metals.