"Garpenberg is a world-class deposit and the conditions for developing the mine are better than I have ever experienced before. This is a first step and gives us flexibility for the future to optimize production both in the short and long term," says Stefan Romedahl, President Business Area Mines.

In Garpenberg, several years of major exploration successes have meant that access to both Mineral Reserves and Mineral Resources is very good. Studies have therefore been underway for some time on how best to develop the operations. As a first step, a permit application for a production increase to 4.5 Mtonnes has now been submitted and a decision has been made to replace a worn-out paste facility in parallel with increased production capacity. The investment amounts to a total of SEK 750 m and the plant is being built next to the existing one to minimize production interruptions and additional costs for other infrastructure. Most of the investment will be completed in 2026.

However, to reach a production rate of 4.5 Mtonnes per year, further efforts are required, including development of mine production, underground development, ore transportation infrastructure as well as debottlenecking in the concentrator. If permission is granted for the production increase, it is therefore estimated that a gradual increase in production beyond the currently licensed level of 3.5 million tons could take place.

In parallel with the current decisions, concept studies are continuing to investigate the conditions for further future production increases, which in that case will be dependent on expansions of mine production, hoisting, processing and capacity of tailings facilities.

For further information, please contact:

Klas Nilsson

Director Group Communications

+46 70 453 65 88

Klas.nilsson@boliden.com