Call for change negotiations at Boliden Kevitsa

04 Mar 2026 10:00 CET

Due to the quadrupling of mining tax in Finland, Boliden Kevitsa has called for
change negotiations to prepare to adopt the operations. All in all, up to
285 employees are considered to be affected by the change of operations. The
change in taxation also means that an investment decision of around EUR 1
billion to extend operations in Kevitsa beyond 2034 is currently on hold.

"We believe mining of metals such as nickel and copper should be safeguarded in
Europe through competitive long-term business conditions. Sadly, it appears that
Finland has chosen a path that creates challenges for the capital-intense mining
industry. Of course, I also expect that contractors will be negatively affected
by the development, says Tom Söderman, General Manager Boliden Kevitsa.

Change negotiations are expected to be concluded within six weeks and will
involve all employees. In total, Kevitsa has just over 500 employees within
exploration and mining operations. Kevitsa is a major provider of copper and
nickel concentrates to the Boliden Harjavalta smelter.

For further information, please contact:

Klas Nilsson

Director Group Communications

+46 70453 65 88

Klas.Nilsson@boliden.com

Metals for generations to come

Boliden's vision is to be the most climate-friendly and respected metal provider
in the world. We are Europe's producer of sustainable metals and, guided by our
values care, courage and responsibility, we operate within exploration, mines,
smelters and recycling. We are around 8,000 employees and have annual revenues
of approximately SEK 90 billion. The share is listed in the Large Cap segment of
NASDAQ Stockholm.

www.boliden.com

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