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Boliden: Statement on changed tax conditions in Finland

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Boliden (OTC:BDNNY) has responded to the Finnish government's proposed tax changes affecting mining activities. The proposal would result in increased annual costs of 20-30 MEUR for Boliden's Kevitsa copper and nickel mine, primarily due to a quadrupling of the Finnish mining tax.

The company has submitted concerns about the proposal's impact on investment climate and European raw material supplies, stating that the government's proposal lacks proper impact assessments and should be withdrawn. The Kevitsa mine produces several EU-designated critical metals, including copper, nickel, cobalt, and PGMs.

Boliden (OTC:BDNNY) ha reagito alle proposte del governo finlandese sui cambiamenti fiscali che interesserebbero l'attività mineraria. Secondo la proposta, il costo annuo per la miniera di rame e nichel di Kevitsa aumenterebbe di 20-30 MEUR, principalmente a causa di una quadruplicazione della tassazione mineraria finlandese.

L'azienda ha espresso preoccupazione per l'impatto della misura sul clima degli investimenti e sulle forniture europee di materie prime, affermando che la proposta del governo è priva di adeguate valutazioni d'impatto e dovrebbe essere ritirata. La miniera di Kevitsa produce diversi metalli critici individuati dall'UE, tra cui rame, nichel, cobalto e PGM.

Boliden (OTC:BDNNY) ha respondido a la propuesta del gobierno finlandés de modificar los impuestos que afectan a la minería. Según la propuesta, los costes anuales de la mina de cobre y níquel de Kevitsa aumentarían en 20-30 MEUR, principalmente por una cuadruplicación del impuesto minero finlandés.

La compañía ha planteado objeciones sobre el efecto de la medida en el clima de inversión y en el suministro europeo de materias primas, señalando que la propuesta carece de evaluaciones de impacto adecuadas y debería retirarse. La mina de Kevitsa extrae varios metales críticos señalados por la UE, como cobre, níquel, cobalto y PGM.

Boliden (OTC:BDNNY)� 광산 활동� 영향� 주는 핀란� 정부� 세제 변경안� 대� 입장� 내놓았습니다. 해당 안이 시행� 경우 케비차(Kevitsa) 구리·니켈 광산� 연간 비용은 주로 핀란� 광산세의 4� 인상으로 인해 20~30백만 유로 증가� 것으� 예상됩니�.

회사� � 안이 투자환경� 유럽 원자� 공급� 미칠 영향� 대� 우려� 제기하며, 정부 제안은 적절� 영향 평가가 결여되어 있어 철회되어� 한다� 주장했습니다. 케비차 광산은 구리, 니켈, 코발� � PGM � EU가 지정한 여러 핵심 금속� 생산합니�.

Boliden (OTC:BDNNY) a réagi aux modifications fiscales proposées par le gouvernement finlandais concernant les activités minières. Selon la proposition, les coûts annuels de la mine de Kevitsa (cuivre et nickel) augmenteraient de 20 à 30 M�, principalement en raison d'une quadruplication de la taxe minière finlandaise.

La société a exprimé ses inquiétudes quant à l'impact sur le climat d'investissement et l'approvisionnement en matières premières en Europe, indiquant que la proposition gouvernementale manque d'évaluations d'impact adéquates et devrait être retirée. La mine de Kevitsa produit plusieurs métaux considérés comme critiques par l'UE, notamment le cuivre, le nickel, le cobalt et les PGM.

Boliden (OTC:BDNNY) hat auf die vorgeschlagenen Steueränderungen der finnischen Regierung reagiert, die Bergbauaktivitäten betreffen. Laut dem Vorschlag würden die jährlichen Kosten der Kupfer- und Nickelmine Kevitsa um 20�30 Mio. EUR steigen, hauptsächlich infolge einer Vervierfachung der finnischen Bergbesteuerung.

Das Unternehmen hat Bedenken wegen der Auswirkungen auf das Investitionsklima und die europäischen Rohstofflieferungen angemeldet und erklärt, der Vorschlag enthalte keine angemessenen Folgenabschätzungen und sollte zurückgezogen werden. Die Kevitsa-Mine fördert mehrere von der EU als kritisch eingestufte Metalle, darunter Kupfer, Nickel, Kobalt und Platingruppenmetalle (PGM).

Positive
  • None.
Negative
  • Annual costs expected to increase by 20-30 MEUR at Kevitsa mine
  • Quadrupling of Finnish mining tax proposed
  • Potential negative impact on investment climate and operations

STOCKHOLM, Aug. 18, 2025 /PRNewswire/ -- The Finnish government has submitted proposals for changed tax levels for mining activities and partly related energy taxes. As part of the decision-making process, Boliden has submitted describing the consequences for the investment climate as well as European raw material supplies in the event that the currently proposed levels were to come into force. In total, the new tax levels are estimated to mean 20-30 MEUR in annual increased costs for the Kevitsa copper and nickel mine, most of which is attributable to a quadrupling of the recently introduced Finnish mining tax. Boliden's submission also states that the Finnish government's proposal is inadequately prepared and that no proper impact assessments have been made, and that the current proposals should therefore be withdrawn in their entirety. Both copper and nickel, as well as cobalt and PGMs, which are also mined in Kevitsa, are designated as critical metals by the EU.

For further information, please contact:

Klas Nilsson
Director Group Communications
+46 70 453 65 88
[email protected]

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SOURCE Boliden

FAQ

How much will the new Finnish tax changes cost Boliden's Kevitsa mine annually?

The new tax levels are estimated to increase costs by 20-30 MEUR annually for the Kevitsa copper and nickel mine.

What is Boliden's (BDNNY) response to Finland's proposed mining tax changes?

Boliden has submitted concerns stating the proposal is inadequately prepared, lacks proper impact assessments, and should be withdrawn entirely.

What metals does Boliden's Kevitsa mine produce?

The Kevitsa mine produces copper, nickel, cobalt, and PGMs (Platinum Group Metals), all of which are designated as critical metals by the EU.

How much is Finland increasing its mining tax for Boliden operations?

The proposal includes a quadrupling of the recently introduced Finnish mining tax, which comprises most of the 20-30 MEUR increased annual costs.
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