1. Finnish government proposed increased mining and energy taxes. 2. Boliden estimates 20-30 MEUR annual costs for Kevitsa mine. 3. Proposals deemed inadequately prepared and lack proper assessments. 4. Copper, nickel, cobalt designated as critical metals by the EU. 5. Potential negative impact on investment climate and raw materials supply.
Increased tax burdens could reduce profitability, similar to past regulatory changes impacting mining companies.
Potential tax changes directly influence operational expenses. Industry reactions around tax environments often sway investor sentiment.
Immediate costs recognized, affecting cash flow and sentiment short-term; medium-term effects dependent on compliance.
STOCKHOLM, Aug. 18, 2025 /PRNewswire/ -- The Finnish government has submitted proposals for changed tax levels for mining activities and partly related energy taxes. As part of the decision-making process, Boliden has submitted describing the consequences for the investment climate as well as European raw material supplies in the event that the currently proposed levels were to come into force. In total, the new tax levels are estimated to mean 20-30 MEUR in annual increased costs for the Kevitsa copper and nickel mine, most of which is attributable to a quadrupling of the recently introduced Finnish mining tax. Boliden's submission also states that the Finnish government's proposal is inadequately prepared and that no proper impact assessments have been made, and that the current proposals should therefore be withdrawn in their entirety. Both copper and nickel, as well as cobalt and PGMs, which are also mined in Kevitsa, are designated as critical metals by the EU.
For further information, please contact:
Klas Nilsson
Director Group Communications
+46 70 453 65 88
Klas.Nilsson@boliden.com
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/boliden/r/statement-on-changed-tax-conditions-in-finland,c4219193
The following files are available for download:
Press release |
View original content:https://www.prnewswire.com/news-releases/boliden-statement-on-changed-tax-conditions-in-finland-302532107.html
SOURCE Boliden