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April 12, 2022

Boliden plans $530m investment on Aitik mine’s tailings dam

Boliden expects production to be unaffected at the mine as tailings could continue to be deposited in other parts of the pond.

Swedish mining firm Boliden plans to invest $530m (Skr5bn) on tailings dam works at its Aitik copper mine in northern Sweden, over the next two years.

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The firm said that ongoing geotechnical investigations in the Aitik mine determined the requirement to eventually change to a new dam construction method to facilitate tailings’ long-term disposal.

Furthermore, the investigations showed that there is a need to strengthen the current dam construction to comply with the best international industry standards.

Boliden president and CEO Mikael Staffas said: “A high level of dam safety is always our top priority. The new direction naturally entails challenges in the short term, but it also creates long-term opportunities in Aitik and a clear direction for how the business can be developed going forward.”

Boliden expects the production to be unaffected at the northern Swedish open-pit mine as tailings could continue to be deposited in other parts of the pond.

The firm said in a statement: “The measures depend on environmental permits and other approvals, but work can be started prior to the permitting process.”

Boliden has identified areas with poorer soil conditions than previously estimated. This is in connection to ongoing geotechnical surveys for future dam heightening.

Subsequently, additional dam heightening and deposition of tailings against dams in these areas have been suspended.

Initially, the firm plans to strengthen the existing dam structures and move certain infrastructure over an estimated period of two years, following which dam heightenings and deposition would be resumed.

Located south of Gällivare in northern Sweden, the Aitik project is said to be one of the world’s most efficient open-pit copper mines.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
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