Boliden to buy north Finland mine in $712 million deal

Staff Writer
Columbus CEO

HELSINKI (AP) — Sweden's Boliden mining group says it plans to acquire the Kevitsa mine in northern Finland for $712 million from Canada's First Quantum Minerals Ltd., in a move to further expand its regional business.

CEO Lennart Evrell on Thursday described the mine — which produces platinum, nickel, copper and gold — as a high-quality, "early-stage mine" whose planned acquisition was in line with the company's growth strategy and was expected to provide synergies.

The debt-free cash deal is expected to close in May, subject to approval by competition authorities in Finland, Sweden and Germany.

Boliden employs some 4,900 people, mostly in the Nordic region. Revenue last year was 40 billion kronor ($4.7 billion).