Boliden Limited to Expand Gold Mine in Saudi Arabia.TORONTO--(BUSINESS WIRE)--Sept. 30, 1997--Boliden Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BOL BOL Bolivia (ISO Country code) BOL Books Online BOL Bole (SIL code, Nigeria) BOL Bill Of Lading BOL Beginning Of Line BOL Best Of Luck BOL Buzz Out Loud BOL Bruin Online BOL Beginning Of Life .IR) (ME:BOL.IR) The Saudi Company for Precious Metals (SCPM SCPM Supply Chain Process Management SCPM Supply Chain Performance Management SCPM Stanford Certified Project Manager (Stanford Advanced Project Management) SCPM Smart Card Personalization Manager SCPM Stars Composite Process Model ), a joint venture company owned equally by Boliden and a Saudi Arabian government agency, will proceed with a pushback push·back n. 1. A device or mechanism that affords movement of another object backwards: the pushback on a subway door. 2. Forced movement of troops back from the line. to the 150-metre level at the Sukhaybarat open-pit gold mine in Saudi Arabia. Based on a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. completed this fall, the pushback is expected to move approximately 4 million tonnes of inferred reserves into the proven ore reserve category. The Sukhaybarat mine is located about 500 km northwest of Riyadh. Proven ore reserves as of Dec. 31, 1996, were 750,000 tonnes grading 2.2 grams gold per tonne with another 16 million tonnes of inferred mineral resources at an average grade of 1.3 grams gold per tonne. The pushback is expected to move 2 million tonnes grading 2.3 grams gold per tonne and 1.5 million tonnes of heap-leach material grading 0.73 grams gold per tonne from the inferred category to the proven category leaving 12 million tonnes in the inferred category. In addition to those proven and inferred reserves, SCPM has stockpiled 1.75 million tonnes of material at an average grade of 1.0 grams gold per tonne which it plans to process in 1998 and 1999 in conjunction with ore mined from the pushback. SCPM is a joint venture company established in 1989 and owned equally by Ma'aden, the Saudi Arabian government organization responsible for mineral development, and Boliden Minerals AB, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Boliden Limited. Boliden Limited is engaged in the mining, processing and sale of metals and mineral products, principally zinc, copper and gold. The company operates mining and milling operations in Sweden, Spain, and Saudi Arabia, and smelting and refining operations in Sweden and Norway. Shares of Boliden Limited, represented by instalment receipts, trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Montreal Exchange under the symbol BOL.IR. CONTACT: Boliden Limited Bengt Lofkvist, 416/216-2276 or James Borland, 416/216-2272 |
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