Boliden Group
Boliden Group is a Swedish integrated metals company operating seven mines and eight smelters across Europe, producing copper, zinc, nickel, lead, gold, silver, and sulphuric acid for European industrial manufacturers, with a focus on low-carbon Green Transition Metals.
- Company typePublic
- Founded1924
- HeadquartersStockholm, Sweden
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Boliden Group does
Boliden Group is a Swedish integrated metals company founded in 1924 and headquartered in Stockholm, operating across the full value chain from mineral exploration and mining through smelting, refining, and metals recycling. The company runs seven active mines—Aitik (copper), Garpenberg (zinc), Kevitsa (copper-nickel), Somincor/Neves-Corvo (copper-zinc), Tara (zinc), Zinkgruvan (zinc), and the Boliden Area—and eight smelters across Sweden, Finland, Norway, Ireland, and Portugal, producing copper, zinc, nickel, lead, gold, silver, and sulphuric acid. Customers are primarily European industrial manufacturers in cable, battery, cement, construction, and energy sectors, with the Green Transition Metals sub-brand supplying low-carbon and recycled variants for electric vehicles, renewable energy infrastructure, and battery applications.
The company monetizes through three principal streams: own-mine concentrate production, treatment and refining charges (TC/RC) for processing approximately 20 external suppliers' concentrates, and direct metal sales priced on London Metal Exchange benchmarks with metal premiums. Recycling of electronic scrap, metal ashes, slag, and lead-acid batteries through proprietary Kaldo technology at Rönnskär and Bergsöe provides a secondary raw material stream. Core proprietary technologies include the EM34 electromagnetic geophysical exploration method and Kaldo smelting for lead and electronic scrap; the company also deploys Volvo and Komatsu autonomous haulage systems at its mining operations. Pricing is transaction-based on LME benchmarks plus premiums for specifically adapted metal grades.
Boliden is publicly listed on the OMX Stockholm 30 exchange (BDNNY on OTC) and reported Q1 2026 revenues of SEK 27,822 million, up 32% year-on-year from SEK 21,121 million, with operating profit of SEK 5,247 million. In April 2025, the company completed the $1.4 billion acquisition of Somincor and Zinkgruvan from Lundin Mining, financed through a SEK 3.75 billion directed share issue, and signed a EUR 1 billion syndicated revolving credit facility in February 2026 to support its expanded balance sheet. Q1 2026 operating results were impacted by a SEK 1.1 billion one-off from a seismic event at Garpenberg, while expansion of the Finnish Kevitsa mine ($1.2 billion planned) was placed on hold following new Finnish mining taxes expected to add EUR 20-30 million in annual costs.
Boliden Group firmographics
Firmographics- Name
- Boliden Group
- Legal name
- Boliden Mineral AB
- Website
- https://boliden.com
- Company type
- Public
- Founded year
- 1924
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Boliden Group is a Swedish integrated metals company operating seven mines and eight smelters across Europe, producing copper, zinc, nickel, lead, gold, silver, and sulphuric acid for European industrial manufacturers, with a focus on low-carbon Green Transition Metals.
- Ownership category
- akta.pro rank
Boliden Group industry classification
Industry- Product category
- Base Metals Mining and Smelting
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Nonferrous Metal (except Aluminum) Production and Processing (3314), Nonferrous Metal (except Aluminum) Smelting and Refining (331410), Gold Ore and Silver Ore Mining (21222)
- SIC
- Primary Smelting & Refining Of Nonferrous Metals (3330), Secondary Smelting & Refining Of Nonferrous Metals (3341), Gold And Silver Ores (1040)
- akta.pro primary industry
- E-Waste & Electronics Metal Recovery (ITAD, Circuit Boards, Precious Metal Recovery) (IMAKAMAG)
- akta.pro secondary industries
- Metals Recycling & Processing (Ferrous/Non-Ferrous) (BPALADAF), Industrial & Manufacturing Scrap Recycling (Factory Scrap, Turnings, Offcuts) (IMAKAMAE), Precious Metals Smelting & Refining (IMAKAEAE)
Keywords
Where Boliden Group is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices16 records
Markets served
Boliden Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D
Revenue model
- Mining Operations: Revenue from mining zinc, copper, nickel, lead, gold, and silver from company-owned mines in Sweden, Finland, Ireland, and Portugal. Includes ore processing and concentrate production.
- Smelting and Refining: Processing of metal concentrates and secondary raw materials to produce refined metals and cathode copper. Includes treatment and refining charges (TC/RC) as key revenue component.
- Concentrate Sales: Purchase and sale of metal concentrates from approximately 20 external suppliers, mainly mines in Europe, South and North America.
- Metal Sales: Sale of refined metals including zinc, copper, lead, nickel, gold, silver, and sulphuric acid to European industrial customers.
- Secondary Raw Materials / Recycling: Processing of electronic scrap, metal ashes, slag, and other recyclable materials to recover metals.
- By-products and Residual Materials: Sale of by-products including iron sand, sulphuric acid, and development of cement replacement products from residual materials.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | LME-based pricing with metal premium |
| Transaction based/ take rate | Pay-as-you-go | Treatment and Refining Charges (TC/RC) |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Boliden Group product offering
Product offeringCore offering
Boliden Group is an integrated metals company operating across the full value chain from mineral exploration through mining, smelting, refining, and metals recycling. It produces base metals (copper, zinc, nickel, lead), precious metals (gold, silver), sulphuric acid, metal concentrates, and by-products from company-owned mines in Sweden, Finland, Ireland, and Portugal, and from eight smelters across the Nordics. It also processes secondary raw materials including electronic scrap and lead-acid batteries to recover metals.
Product overview
Boliden Group is an integrated metals company operating two main segments: Mines (extraction) and Smelters (processing). Their production portfolio spans base metals (copper, zinc, nickel, lead), precious metals (gold, silver), and chemical products (sulphuric acid), with Green Transition Metals sub-brand covering low-carbon and recycled variants. Mines include Aitik (copper), Garpenberg (zinc), Kevitsa (copper-nickel), Somincor (copper-zinc), Tara (zinc), Zinkgruvan (zinc), and Boliden Area. Smelting operations at Rönnskär (copper), Harjavalta (nickel), Kokkola (zinc), Odda (zinc), and Bergsöe (lead recycling). Concentrates are sourced from own mines and approximately 20 external suppliers. By-products include iron silicate (järnsand) and other recovered materials. The company operates circular economy through electronic and metal scrap recycling, with secondary raw materials representing a key input stream.
Differentiator
Problem solved
Functional benefit
Brands
- Green Transition Metals (GTM): Product portfolio including Low-Carbon Copper, Low-Carbon Zinc, Low-Carbon Nickel, Low-Carbon Lead, Low-Carbon Sulphuric Acid, and Recycled variants
- Low-Carbon Copper
- Low-Carbon Zinc
- SCMentum
Products and services
- Copper
- Zinc
- Nickel
- Lead
- Gold
- Silver
- Sulphuric Acid
- Concentrate
- By-products
- Green Transition Metals
Quantifiable outcome
- 30% reduction in CO2 emissions through renewable energy use at Aitik
- +4 more outcomes
Companies that use Boliden Group
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles3 records
Boliden Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability10 records
Feature5 records
Boliden Group partnerships and signals
Strategic signalScale indicators14 records
Recent moves11 records
Expansion highlights5 records
Boliden Group competitors and assessment
Company assessmentDirect peers
- First Quantum Minerals Ltd. Copper-focused miner with copper concentrate production; comparable to Boliden's Aitik and Somincor copper operations in commodity mix and concentrate sale economics.
- KGHM Polska Miedź S.A. Integrated copper miner and smelter producing copper cathodes, silver, and gold with European operations; directly comparable vertically-integrated model producing refined copper and precious metals for European markets.
- Lundin Mining Corporation: Mid-tier base metals miner (copper, zinc, nickel) that sold Neves-Corvo and Zinkgruvan to Boliden; a clear peer in size, commodity mix, and European/Nordic operating footprint.
- Antofagasta plc: Copper mining major with by-product gold and molybdenum; directly comparable commodity and concentrate-focused business model competing in global copper markets.
- Aurubis AG: Europe's largest copper smelter and a leading recycler of copper and precious metals; directly comparable to Boliden's Rönnskär copper smelter and e-waste recycling operations, serving similar European industrial customers with refined metals and by-products.
Broad incumbents
- Glencore plc: Global diversified mining and smelting major with substantial copper, zinc, and lead operations plus a large recycling business; competes with Boliden for concentrate feedstock and refined metal market share across Europe.
- Anglo American plc: Major global diversified miner with significant copper and zinc exposure; competes for capital, offtake partners, and European end markets, though at materially larger scale.
- Rio Tinto Group: Global diversified mining major with copper, nickel, and zinc exposure; a broad incumbent competitor for capital, offtake, and end markets though operating at vastly larger scale and broader commodity diversification.
Regional players
- Norsk Hydro ASA: Norwegian-headquartered metals and mining company with Nordic low-carbon electricity footprint; overlaps with Boliden on regional, low-carbon metals positioning though focused on aluminium rather than copper/zinc/nickel/lead.
- Outokumpu Oyj: Nordic-headquartered stainless steel producer with strong sustainability positioning and circular-economy credentials; thematically comparable Nordic low-carbon metals peer, though downstream rather than upstream mining/smelting.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Boliden Group social profiles
Digital presenceBoliden Group compliance and trust
Trust signalCompliance5 records
Boliden Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Boliden Group leadership team
Management profileNumber of profiles
Profiles12 records
Boliden Group subsidiaries and ownership
Company hierarchySubsidiaries11 records
Boliden Group funding detail
Funding detailFunding overview
Funding rounds5 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Boliden Group M&A and investment
M&A and investmentM&A3 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Boliden Group
What does Boliden Group do?
Boliden Group is an integrated metals company operating across the full value chain from mineral exploration through mining, smelting, refining, and metals recycling. It produces base metals (copper, zinc, nickel, lead), precious metals (gold, silver), sulphuric acid, metal concentrates, and by-products from company-owned mines in Sweden, Finland, Ireland, and Portugal, and from eight smelters across the Nordics. It also processes secondary raw materials including electronic scrap and lead-acid batteries to recover metals.
Is Boliden Group a public or private company?
Boliden Group is a public company. It is classified as public and is currently operating.
When was Boliden Group founded?
Boliden Group was founded in 1924. It employs 5,001 to 10,000 people.
Where is Boliden Group based?
Boliden Group is headquartered in Stockholm, Sweden, in the Europe region.
How does Boliden Group make money?
Six revenue lines are on record. Mining Operations are the primary driver. The others are smelting and Refining, concentrate Sales, metal Sales, secondary Raw Materials / Recycling and by-products and Residual Materials.
Who are Boliden Group's main competitors?
Direct peers on record are First Quantum Minerals Ltd., KGHM Polska Miedź S.A., Lundin Mining Corporation, Antofagasta plc and Aurubis AG. Broad incumbents are Glencore plc, Anglo American plc and Rio Tinto Group. Regional players are Norsk Hydro ASA and Outokumpu Oyj.
Does Boliden Group have an API?
No public API is recorded for Boliden Group.
What industry is Boliden Group in?
Boliden Group's product category is Base Metals Mining and Smelting. Its primary akta.pro industry code is IMAKAMAG, E-Waste & Electronics Metal Recovery (ITAD, Circuit Boards, Precious Metal Recovery), with a secondary code of BPALADAF, Metals Recycling & Processing (Ferrous/Non-Ferrous). Its NAICS code is 212230 and its SIC code is 3330.