Kevitsa Mine Updates on Mineral Resources and Grade Guidance

Revamping Mineral Estimates at Kevitsa Mine

Boliden has recently enhanced its estimations for the Mineral Resources and Mineral Reserves at the Kevitsa mine through more detailed surveys of the mineralization. These enhancements reveal a promising increase in tonnage in both Mineral Resources and Mineral Reserves when compared to previous evaluations. Notably, the anticipated average grade for the Mineral Reserves is now projected to rise to 0.22 percent for nickel, while it remains constant at 0.31 percent for copper. Additionally, the guidance grades for nickel and copper for the year ahead are now estimated at 0.17 percent and 0.23 percent, respectively.

Enhancing Mine Operations

Stefan Romedahl, the President of Boliden Mines, expressed satisfaction regarding the improvements made in the overall mine plan for Kevitsa. He emphasized that these enhancements not only lead to an increase in Mineral Reserves and extend the mine's lifespan but also allow for more optimized production. This optimization could even expedite decisions surrounding potential Stage 5 expansions in the future.

Significant Advances in Mineral Resources

In 2024, Boliden engaged in a thorough re-evaluation of the Mineral Resources, culminating in an updated mine plan and increased Mineral Reserves. A notable addition of 25 million tonnes to the Mineral Reserve has been recorded. Through the milling of 9.85 million tonnes during the year, the actual net increase in Mineral Reserves stands at 15 million tonnes, marking an impressive 19% rise, thereby extending the mine’s operational life to a total of 10 years at the current production pace of 10 million tonnes per year.

Changes to Tailing Storage Facility

It was noted that in 2023, 20 million tonnes were downgraded from the Mineral Reserves. Remarkably, that same volume has now been reinstated. This shift corresponds with the permit application put forth to alter the construction methodology for the Tailing Storage Facility (TSF). The change in approach paves the way for expanding the TSF to accommodate the capacity necessary for the present mine plan. The overall Mineral Resources have consequently surged by 15 million tonnes despite the previous conversions back to Mineral Reserves.

Average Grades and Future Guidance

Looking ahead to 2025, the average production grades for nickel and copper are pegged at 0.17 percent and 0.23 percent, respectively, both lining up with the average grade guidance set forth in the life of mine plan. This temporary dip in grades cannot be overlooked, as it relates to the new mine plan. Mining operations will have to navigate through specific low-grade areas within the pit for the sake of accessing better positions going forward.

Accessing Additional Information

For further insights into the classification of Mineral Resources and Mineral Reserves, Boliden suggests exploring their comprehensive website where detailed summaries and reports, including significant updates on the Kevitsa Mineral Resources and Reserves can be viewed shortly.

This article encompasses essential insights into the revised Mineral Resources and reserves of the Kevitsa mine and underpins the proactive measures taken by Boliden in enhancing its mining strategies. As Boliden advances its mining operations, stakeholders and interested parties are encouraged to keep a close watch on their progress.

Frequently Asked Questions

What recent updates have been made regarding the Kevitsa mine?

Boliden has updated the Mineral Resources and Mineral Reserves estimates for the Kevitsa mine, showing an overall increase in tonnage and an enhanced mine plan.

What are the projected average grades for 2025 at Kevitsa?

The average grades for 2025 are estimated to be 0.17 percent for nickel and 0.23 percent for copper.

What impact will the new mine plan have on production?

The new mine plan is expected to optimize production, allowing for improved access to higher-grade areas in the future.

Who can be contacted for more information about Boliden's mining activities?

Klas Nilsson, Director of Group Communications, can be reached for further inquiries.

Where can I find more details about Boliden's Mineral Resources and Reserves?

Additional information can be found on Boliden’s official website, which is set to publish updated summaries regarding Kevitsa shortly.

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