Boliden Receives Final Approvals for Acquisition of Neves-Corvo and Zinkgruvan Mines

Boliden has secured all necessary regulatory approvals for its acquisition of Somincor (Neves-Corvo) in Portugal and Zinkgruvan in Sweden, following approval from the European Commission. The initial announcement of the acquisition was made December 9, 2024.

The approvals include competition clearance from the European Commission, approval from the Inspectorate for Strategic Products under the Foreign Direct Investment Review Act, approval under the Portuguese concession agreement for Neves-Corvo, and approval of other fundamental permits.

The acquisition is expected to be completed in the coming weeks, pending the satisfaction of remaining closing conditions. Boliden has agreed to acquire 100% of the shares of Somincor–Sociedade Mineira de Neves-Corvo, and 100% of the shares of each of Zinkgruvan Mining Aktiebolag from subsidiaries of Lundin Mining for up to $1.52 billion (SEK 15.84 billion) in cash.