Boliden Reports Increased Q2 Profit Amid Mine Challenges and Rising Metal Prices
Boliden AB achieved a significant increase in operating profit for Q2, reaching SEK 2.87 billion, up from SEK 1.28 billion. The company's performance was bolstered by higher metal prices and contributions from newly acquired mines, despite facing production disruptions at Garpenberg and delays in the Odda expansion.
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Boliden AB's operating profit more than doubled to SEK 2.87 billion in Q2, driven by elevated prices for copper, zinc, and precious metals. Revenue rose to SEK 25.73 billion, reflecting solid performances from the Somincor and Zinkgruvan mines, acquired in 2025.
The Garpenberg mine's output was hampered by a seismic event earlier this year, while the Odda zinc smelter's ramp-up was slower than anticipated. Despite these challenges, production has resumed in unaffected areas of Garpenberg. Boliden maintains its 2026 guidance, with capital expenditures projected at SEK 15.5 billion, although milled volumes at Tara were revised down by 0.2 million tonnes to 1.6 million tonnes.
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