The Swedish metals company Boliden announced Monday that it will make an investment of 4.8 billion Swedish kronor (equivalent to $463.5 million) in the construction of a new tank house to increase refining capacity in its Ronnskar copper smelterwhich suffered a fire last year.
With this new infrastructure, copper cathode and precious metal production at the Ronnskar facility is expected to reach full capacity in the second half of 2026, the company said.
Financing for Ronnskar copper smelter
Boliden indicated that part of the funding for this investment will come from a possible insurance payout, which could reach up to SEK 3.4 billion. Implementation of the project is scheduled to begin this year.
The company expects its total investments for this year to amount to SEK 15.5 billion, an increase of SEK 1.5 billion over previously announced figures. Of this total, 1 billion is earmarked for the Ronnskar project.
In addition, Boliden will allocate an additional 500 million to the expansion of its Odda zinc smelter in Norway. This project has experienced cost increases due to the integration between the new and existing facilities, as well as delays in deliveries.
Boliden’s investment in the Ronnskar copper smelter not only demonstrates the company’s commitment to the recovery and expansion of its operations following the fire incident, but also reflects the growing demand for copper and precious metals in the global market. This strategic move could have a significant impact on the copper industry, strengthening Sweden’s position as a key player in the global mining sector.
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Source: miningweekly.com
Photos: shutterstock
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