Boliden is riding the wave of generally higher metal prices and strong demand.
If the gold price goes up 10 percent, our annual profit will increase by SEK 800 million, says CEO Mikael Staffas.
Although the price has fallen sharply in recent days, gold has almost doubled over the past year.
In the fourth quarter alone, the mining company's profit rose to 5.8 billion, compared to 4.1 billion in the same period last year, according to the latest quarterly report.
New mines underway
Raw material prices fluctuate greatly and directly affect Boliden's results. However, this does not affect Boliden's investment plans.
We work with 20-year investment cycles, says Staffas.
Mining is hot, and we have a Minister of Industry and Trade who wants to see more mines in Sweden.
Aren't you going to start new mines?
"We have recently purchased two mines, and we have some projects that we are developing," he says.
This includes a larger copper mine, the Laver mine in the municipality of Älvsbyn, which could become Europe's largest, but the ball is in the court of various licensing authorities.
Not interested
Uranium mines?
We are not interested in uranium as a product.
Boliden invested SEK 15 billion in the business last year. The aim is to do something similar this year.
The Boliden CEO is very satisfied with where the company stands today. "My view is that Boliden has never been as strong as it is today and that we are performing better than ever," he writes in the report.
What do you mean by that?
The result is actually the best ever in Boliden's history.
Finances are good, productivity is good, and he wants to make a difference in the work environment by going many years without fatalities, "which is completely unique in this industry."
Both profit and revenue were clearly better than expected, according to Bloomberg's compilation of stock analysts' expectations. Shareholders will receive a dividend of SEK 11 per share, according to the board's proposal. The year before, there was no dividend at all.
The stock rose around 3 percent on the stock exchange.
