Boliden

1
Boliden Ulf Söderström, SVP Business Area
Market
Mines
Smelters
Market
2
Boliden in brief

• Boliden is an international mining and smelting
  company which extracts, smelts and refines zinc
  and copper. By-products include lead, gold and
  silver. Boliden has operations in Sweden,
  Finland, Norway, Ireland and The Netherlands.
• Boliden is one of the leading copper and zinc
  smelting companies in Europe the third largest
  in copper and the second largest in zinc, and the
  worlds sixth largest mining company within zinc.
• The company shares are listed on the Large Cap
  list of the Stockholm Stock Exchange in Sweden
  and on the Toronto Stock Exchange in Canada.

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Bolidens Production Entities
4
China and Asia together will dominate the zinc
market in the coming years.
(000 tons forecast 2007, Brook Hunt)
Source Brook Hunt Q2 2007 Report
5
Where are the hot spots for Zn consumption and
production?
Increase in zinc refined production
2007-2012 (000 tons)
Increase in zinc consumption 2007-2012 (000 tons)
37
13,6
16
11,7
10
17
12
10
3
2
1
data Brook Hunt, 2Q 2007
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Concentrate surplus compared to smelter demand
5
3
Mine output
Many projects are restart and expansion
projects. China expansion projects represents
1950 ktpa. The largest individual new mining
projects are San Cristobal in Bolivia of 255 ktpa
and Cerro Lindo in Peru of 140 ktpa 2007-2008
(within Base Case Production Capability).
Source Brook Hunt, Boliden
7
LME Zinc stocks by region 2005-2007
Source LME, Closing Stock End of Period
8
China and Asia are forecasted to increase import
of copper raw-material
(000 tons forecast 2007, Brook Hunt Q 2007)
9
Where are the hot spots for Cu consumption?
Increase in copper refined production
2007-2012 (000 tons)
Increase in copper consumption 2007-2012 (000
tons)
22,9
22
41
18,8
110
25
8
11
14
18
6
data Brook Hunt
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Concentrated deficit for the whole planning period

• There are a quite a number of medium-size
  potential brownfield and greenfield projects
  awaiting development.
• Many of these are earmarked for production during
  the period 2007-2010.
• Large inventory of potential projects demands
  continued investment discipline.

Source Brook Hunt
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China and Australia dominates the mine production
of lead
(000 tons 2006, Brook Hunt)
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Chinese metal demand growth outpaces world metal
demand
Share of global copper consumption is expected to
increase from 23 2006 to 27 2007 and for zinc
from 28 2006 to 33 2011.
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