Botnia Exploration Holding AB

What Botnia Exploration Holding AB does

Botnia Exploration Holding AB, operating through its subsidiary Botnia Gold AB (publ), is a Swedish publicly listed gold mining and exploration company founded in 2007 by Bengt Ljung. The company operates the Fäbodtjärn mine in Vindelgransele — described as Sweden's first new mine in 12 years — which became operational in 2024 and produced 224.5 kg of gold in full-year 2025, generating 242.5 million SEK in revenue. The asset portfolio also includes a processing concession at Vargbäcken K nr 1 (the next planned development), plus exploration permits at Storforsen nr 6 and Stenberget nr 3, 4, and 5.

The company's core technology centers on small-scale mining with a strategic investment in ore sorting equipment to improve mineral processing efficiency. Botnia positions its small-scale model as a profitable alternative to traditional large-scale mining, emphasizing environmental performance and community engagement. Revenue is generated by selling produced gold as a commodity into global markets at prevailing USD/oz prices, with no disclosed customer-specific pricing. Q4 2025 generated 118.7 million SEK in revenue at a 38.6% EBIT margin, indicating strong operational unit economics during the production ramp.

Botnia is publicly traded on Nasdaq Nordic under ticker SSE147133 (BOTX) and, as of February 2026, had a stock price of 14.20 SEK. The company is headquartered in Vindelgransele, Västerbotten County, Sweden, with a headcount of 1–10 employees. In May 2026, Botnia entered a cooperation agreement with Boliden Mineral AB for joint prospecting in the Vindelgransele area and appointed Ola Johansson as mine manager for Fäbodtjärn, signaling continued operational scaling.

Name

Botnia Exploration Holding AB

Legal name

Botnia Gold AB (publ)

Website

https://botniaexploration.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Botnia Gold AB is a Swedish publicly listed small-scale gold miner operating the Fäbodtjärn mine in Vindelgransele, producing gold sold into global commodity markets with a portfolio of exploration permits and the Vargbäcken development project.

Ownership category

akta.pro rank

Headquarters

HQ city

Nacka

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Gold Production and Sales: The company generates revenue through gold mining operations. Full-year 2025 gold production reached 224.5 kg generating 242.5 million SEK in revenue. Q4 2025 revenue was 118.7 million SEK with an EBIT of 45.8 million SEK representing a 38.6% margin. Revenue is generated from direct gold sales at market prices.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Botnia Gold AB (publ), a subsidiary of Botnia Exploration Holding AB, is a Swedish gold mining and exploration company that operates small-scale gold mines and engages in prospecting of precious and base metals in Sweden. The company extracts and produces gold from its Fäbodtjärn mine and sells the production into global commodity markets, while developing the Vargbäcken project as its next mine and holding multiple exploration permits.

Product overview

Botnia Gold AB is a Swedish gold mining and exploration company operating a small-scale mining model focused on gold and base metals in Sweden. The core product is the Fäbodtjärn K nr 1 mine, Sweden's first new mine in 12 years, which produced 224.5 kg of gold in 2025 generating 242.5 million SEK in revenue. The portfolio includes the Vargbäcken K nr 1 project (next development stage), multiple exploration permits (Storforsen nr 6, Stenberget nr 3-5), and strategic technology investments in ore sorting equipment. The company operates as a subsidiary of Botnia Exploration Holding AB (publ), with environmental permits and concessions for both Fäbodtjärn and Vargbäcken in Vindelgransele.

Differentiator

Problem solved

Functional benefit

Products and services

• Fäbodtjärn K nr 1 Operating gold mine and processing concession in Vindelgransele, Sweden. Sweden's first new mine in 12 years, producing gold with an EBIT margin of 38.6% in Q4 2025 and 224.5 kg of gold in full-year 2025.
• Vargbäcken K nr 1 Exploration and processing concession project in Vindelgransele, positioned as Botnia Gold's next mine development following Fäbodtjärn.
• Storforsen nr 6 Exploration permit area for ongoing prospecting activities in Sweden.
• Stenberget nr 3, 4, 5 Three exploration permit areas for prospecting in the Stenberget region of Sweden.

Quantifiable outcome

• 224.5 kg gold production in 2025
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Boliden Mineral ABcoreStrategic or Co-development Partner · 28 May 2026Botnia Gold AB and Boliden Mineral AB have signed a cooperation agreement regarding prospecting in the area around Vindelgransele. This strategic partnership leverages Boliden's expertise in mineral exploration while utilizing Botnia Gold's local presence and existing concessions.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Dragon Mining: Nordic-focused gold mining and exploration company with producing mines in Sweden and Finland. Highly comparable as a small-cap Scandinavian gold producer operating in similar jurisdictions with similar mining models.
• Mandalay Resources: Small-cap gold and antimony producer with operating mines. Comparable in scale and business model as a small-cap publicly-listed gold producer selling bullion into commodity markets with similar margin profiles.
• First Nordic Metals: Nordic-focused gold exploration company with projects in Sweden and Finland. Directly comparable as a small-cap Nordic precious metals exploration and development company targeting similar geographies and gold deposits.
• Arctic Gold: Swedish gold exploration and mining company focused on northern Sweden projects. Directly comparable as a small Sweden-listed gold company with similar exploration and small-scale mining operational profile.

Emerging players

• Barsele Minerals: Canadian exploration company focused on gold projects in Sweden, including the Barsele project in Västerbotten County. Directly comparable as a Sweden-focused gold exploration company operating in the same region as Botnia.
• Aurion Resources: Junior exploration company focused on gold in Finland and Sweden. Directly comparable as a Nordic-focused precious metals exploration company with similar project scale and stage.

Broad incumbents

• Boliden AB: Major Swedish diversified metals and mining company with operations across zinc, copper, gold, and other base metals. Direct comparison as a Swedish-listed miner and explicit strategic partner for prospecting around Botnia's Vindelgransele concessions.
• Eldorado Gold: Mid-tier gold producer with operations across Europe, including Greece and Turkey. Comparable as a publicly-listed gold mining business focused on European jurisdictions with similar regulatory complexity to Sweden.
• Lundin Mining: Diversified Canadian mining company with copper, zinc, gold, and nickel operations. Comparable as a publicly-listed base and precious metals producer with Swedish and Nordic regional exposure.
• Agnico Eagle Mines: Senior Canadian gold producer with global operations. Comparable as a pure-play gold mining business selling bullion into commodity markets, though at much larger scale and more diversified geographically.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/botnia-exploration-holding-botxbta-
• Instagraminstagram.com/botniaexploration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Botnia Exploration Holding AB