Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Swedish miner Boliden noted on Monday that lower zinc and copper production in its Tara and Aitik mines is likely to reduce the company’s Q1 2021 operating profits by SEK 200mn ($23.5mn). The company cited increased sick leaves due to COVID-19 and intermittent machinery disruptions as reasons for low output in both mines.


Boliden estimates that production in its Aitik mine will reduce by more than 1mn mt from its 2021 copper guidance of 45mn mt. The company has also suspended operations in its Tara mine following machinery breakdown and plans to resume mining activity in a week.


The estimated production capacities of Aitik and Tara mines were 42mn mt and 26mn mt, respectively, in 2020.




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