Boliden introduces new strategy for nickel business.
M2 EQUITYBITES-November 11, 2014-Boliden introduces new strategy for nickel business
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Boliden (STO:BOL.ST)(TSX:BLS) announced on Monday plans to launch an independent nickel smelting business.
This new business will buy nickel concentrates from external suppliers and sell nickel matte to nickel refineries. The annual production is estimated to remain at 25,000 tonnes of nickel in matte.
Boliden Harjavalta, the company's combined copper and nickel smelter based in Finland, has been smelting nickel concentrates owned by external parties for a fee, under a process know as tolling. In 2013, approximately 250,000 tonnes of nickel concentrates were processed into nickel matte, containing about 25,000 tonnes of nickel, for further treatment at external nickel refineries.
According to the company, its current tolling contract is expiring, as a result it will change its nickel business model to more resemble the model for the group's copper and zinc business. Instead of processing nickel concentrates for customers Boliden will now buy concentrates from a variety of mines and sell the nickel matte to nickel refineries.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 11, 2014|
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