Boliden slides after decision to increase spend on Aitik mine

Boliden AB

11/04/2022 09:26

** Shares in Boliden  BOL.ST  slump over 6.5% after the
Swedish miner decided to increase investment in its Aitik copper
mine after geotechnical investigations showed the need to adjust
dam construction  urn:newsml:reuters.com:*:nL5N2W9106
    ** Boliden said it would increase the spend to SEK 5 billion
($529.66 million) over the next two years on works on the
tailings dam at Aitik in northern Sweden
    ** The company added it now sees 2022 group investments to
total just over SEK 11 billion, up from previously expected just
over SEK 10 billion
    ** J.P. Morgan says that although today's news is not
necessarily an "incident" as such, it highlights a risk that
there is upside to long-term maintenance/capex spend to upgrade
Boliden's operating base
    ** The stock is one of the top fallers on STOXX 600  .STOXX 
index
    


($1 = 9.4401 Swedish crowns)

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))