Hur går prospektering till idag? Boliden-medarbetaren Pierre Heeroma går igenom flera exempel och pratar även om återvinning av metaller.

1. Being and remaining a
successful metals
producer in Europe:
From exploration to
recycling
Pierre Heeroma
Director Group Strategy and
Business Development

2. Key Ratios 2011
• Net sales SEK 40.3 billion
• Operating profit SEK 4.7 billion
• Capital employed SEK 30.5 billion
• Net debt & net SEK 6,063 million
debt/equity ratio 29%
• Equity/assets ratio 56%
• Number of employees 4,423

3. A European based metals company
Aitik
Boliden Area Rönnskär
Garpenberg Kokkola
Tara
Harjavalta
Odda
Bergsöe
Smelters
Mines

4. It all started...
 …when gold was discovered at
Fågelmyran in Västerbotten
 The first ore saw the light of day in
1926, and the Rönnskär smelter began
its operations in 1930

5. From large areas

6. To target areas…

7. Exploration
Geophysical R&D
Long tradition of R&D
Geophysical instruments used and developed by Boliden
1918 Equipotential method 1986 BHIP Downhole-IP
1923 Two-frame method 1990 Scintrex Gravimeter CG3
1936 Boliden gravimeter 1990 Ground Penetrating Radar
1945 Slingram (HLEM) 3600Hz 1992 BHMAG Downhole 3-comp MAG
1950 Airborne EM - and magnetic survey 1995 EM3 Ground-EM 3-comp with GPS
1950 Worden gravimeter 1995 Downhole 3-comp MAG on drillrod
1969 Hetona Downhole 3-comp MAG 1996 Downhole 3-comp EM on drillrod
1970 VLF-E E-field 30 kHz local transmitter 1998 GEM Magnetometers GSM-19
1970 IP Induced polarisation 1999 Downhole 3-comp EM/MAG on drillrod
1980 BHEM Downhole 3-comp EM 2002 EM3-4 frequencies GPS-synchronized
1980 TEM Transient-EM 2003 IP GPS-synchronized ground system
1980 Airborne MEM 2004 4 frequency downhole 3-comp EM
1980 Downhole Radar 2004 MAG Ground magnetic instrument (GPS)
1984 MAG Magnetic method 2009 Scintrex Gravimeter CG5
1986 EM3 Ground-EM 3-comp 2010 Portable IP-transmitter (GPS)
Boliden Group-CMD
7 2011-09-06

8. Two-frames survey Kristineberg 1936

9. Slingram survey 1945

10. Beam slingram survey 1965

11. GPS-antenn
EM34 survey
Totalfält
Handdator
Klot med tre vinkelräta
kopparspolar

12. Electro-magnetic survey
Boliden’s EM34
EM-field from induced
electrical current in
sulfides ore
Sulfides ore

15. Discovery hole
L-zone
Kristineberg

16. Downhole 3-component EM
Size
Location
Geometry
Secondary field Probe
Orebody

17. Garpenberg 1/1-97
Garpenberg norra
Garpenberg 0Z
200Z
Dammsjön
400Z
600Z
Kyrkan-
Gransjön
Tyskgården
Finnhyttan 800Z
Kaspersbo
Strand 1000
Kanal Z
1200Z
1400Z
The situation in Garpenberg before
any resoyrces from the new areas
was added.
1600 Y 2000 Y 2400 Y 2800 Y 3200 Y 3600 Y 4000 Y 4400Y 4800 Y 5200 Y
Orereserv
Mineralresources
Potential
Mined-out

18. Induced EM field
Measurement of induced
EM-field in drillhole
September 1997
DHEM in DH 728 indicates
a vertical conductor 60m from
the drillhole

19. Measurement of induced
EM-field in drillholes
December 1999
EM anomaly is followed up with drilling
The first intersection of Lappberge is a fact

20. Long section
Garpenberg Vertical projection Paste plant
Garpenberg norra
Dammsjön 0Z
200Z
400Z
Kyrkan-
Tyskgården
Finnhyttan 600Z
Gransjön
800Z
Kvarnberget Kaspersbo 870 Z
Kvarn- 910 Z
berget
Strand 1000Z
Kanal
1070 Z
Dammsjön
1200Z
Lappberget
1400Z
1600Y 2000Y 2400Y 2800Y 3200Y 3600Y 4000Y 4400Y 4800Y 5200Y
Ore Reserve Planned drilling 2012 Planned drilling
Mineral Resource Kvarnberget ”backwards” drilling On-going drilling
Potential Kvarnberget Completed drilling
Mined Out Long drillholes ~2000m

21. Garpenberg and Tara
Garpenberg Tara
Kton Kton
30,000 Proven/Probable 30,000
Measured/Indicated
Inferred
25,000 Production*10 25,000
20,000 20,000
15,000 15,000
10,000 10,000
5,000 5,000
0 0

22. Boliden Area and Aitik
Aitik Boliden Area
Kton Kton
1,800,000 16,000
Proven/Probable
1,600,000 Measured/Indicated 14,000
Inferred
1,400,000 Production*10
12,000
1,200,000
10,000
1,000,000
8,000
800,000
6,000
600,000
4,000
400,000
200,000 2,000
0 0

23. Laver – a historic Boliden area - revisited!
 Boliden copper mine 1938-1946
 Ore production 1.3 Mton
 Grades:
‒ Copper 1,5 %
‒ Gold 0,2 g/t
‒ Silver 36 g/t
 Periodic exploration by Boliden 1970’s
and late 1990’s.
 Restarted exploration in 2008

24. Laver - exploration results
 57 drill holes total 21 700 meters completed
until April 2012
 A Cu-Au-Mo bearing mineralization not yet
classified as Mineral Resource
 Preliminary indication of Laver resource and
grades:
Potential resource Cu (%) Au (g/t)
(Mt)
500-700 0.15-0.25 0.10-0.15

25. Expansion projects

26. Organic growth – ongoing projects
2010 2012 2014
Aitik Rönnskär Kankberg Kokkola Garpenberg
Expansion E-scrap Au, Te Zinc smelter Expansion
Cu-Au Ag recovery Zn, Ag, Pb
Boliden Area
Boliden Area
Hötjärn Maurliden East Mill/feed Kankberg, Te
tailings pond Cu open pit mine logistics leaching

27. Aitik expansion
 A SEK 6 billion investment – one of the
biggest industrial investments in
Sweden in recent years
 Increase in mined production from 18
to 36 million tonnes per year
 Increase in metal production of approx.
50 per cent
 New facilities for concentration, ore
production and outward deliveries
 Ramping up until 2014

28. Mill/feed logistics in Boliden area
Trucking
Distribution to
from 4 Stacker
stockpiles and silos
mines

29. Kankberg – a new gold mine
 Mineral reserve: 3,100 ktonnes
 Average grades
- Gold 4.1 g/tonne
- Tellurium 186 g/tonne
 Production between 2012-2020
- Ore 320,000 tonnes
- Gold 1,150 kg1)
- Tellurium 41 tonnes1)
 The SEK 475 million investment
includes:
- Mine infrastructure
- A new leaching plant
 Production starts in mid-2012
1) Metal content

30. Garpenberg expansion
 An SEK 3.9 billion investment
 Increase in ore capacity from 1.4 to
2.5 million tonnes per year
 Full production by the end of 2015
 Production until 2030
 New industrial area
‒ New underground facilities
‒ New concentrator
‒ New infrastructure
 Enhanced competitive position
 Production costs cut by approx. 25 per
cent

31. Silver recovery at Kokkola
 An EUR 27 million (SEK 250 m)
investment
 The annual volume of silver recovered
is estimated at approx. 25 tonnes
 The investment starts in April 2012
 Production starts in Q3 2014
 Improved profitability and raw material
efficiency

32. Electronic recycling expansion at Rönnskär
 An SEK 1.3 billion investment
 Increase of electronic recycling to
120,000 million tonnes per
year, making Rönnskär the biggest e-
scrap recycling facility in the world
 Commissioning: June 1, 2012
 Increases in metal production:
‒ Copper +14,500 tonnes
‒ Silver +32 tonnes
‒ Gold +2 tonnes

33. More than 30 years of experience in e-scrap
smelting and recycling
E-scrap processed at Rönnskär
Tonnes
140 000
120 000
100 000
80 000
60 000
40 000
20 000
0
1981 1986 1991 1996 2001 2006 2011
Boliden 33 20/10/2012

34. E-scrap recycling within EU – legislation will
drive e-scrap volumes
Existing WEEE*-directive 2%
Target to collect 4 kg per person and
year 6% 9%
11%
WEEE-directive 2016 (not yet
decided) 20%
Target to collect approx. 13 kg per
person and year
32%
The average EU citizen’s electronic 19%
product purchases currently equate
to 24 kg of e-scrap per year
*WEEE = Waste from electrical
=main source of supply
and electronic equipment
Boliden 34 20/10/2012

35. The value chain for electrical and electronic
waste
Collection of e-waste from
industry and households
Inspection/Cleaning
Partition/Fragmentation
Plastic Separation Aluminium
Glass Iron
* Types of e-scrap E-scrap*
– WEEE-scrap (e.g. low-grade circuit
boards)
– Granules BOLIDEN
– High grade circuit board scrap
– Alloyed scrap with precious metals
– Production waste from machinery
industry
– Telecom scrap
Boliden 35 20/10/2012

36. Material flow at Rönnskär (schematic)
Smelting of
Cu concentrate Copper
Gold
Silver
Lead
Refining
Zinc clinker
Sulphuric acid
By-products
Smelting of Energy
e-scrap
 Synergies in processing copper concentrate and e-scrap
 Available process capacity facilitates increased
e-scrap volumes
20/10/2012 36 Boliden

37. Electronic scrap’s ways to Rönnskär
Europe: 70% of volum
Scandinavia: 20% “-
North America: 5% “-
Others: 5% “-
Boliden Rönnskär 37 2012-10-20

38. Material handling
Boliden Rönnskär 38 2012-10-20

39. New E-kaldo
Boliden Rönnskär 39 2012-10-20

40. Disclaimer
 This presentation has been prepared by Boliden for information purposes only. Nothing in this
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 This presentation has been prepared as per the indicated date and Boliden does not undertake
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 Certain statements in this presentation are forward-looking and are based on plans, estimates,
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to the factors explicitly discussed, other circumstances may also have a material effect on the
actual outcome. Such factors include, but are not limited to, general economic or political
conditions, fluctuations in exchange or interest rates or metal prices, technological factors,
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41. Metals for modern life