We are building NEW AITIK. New Aitik. 36 million tonnes

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1 We are building NEW AITIK New Aitik 36 million tonnes

2 MODERN SOCIETY needs the metals Boliden produces. IN THIS CONTEXT, the Aitik mine is of major importance as a reliable supplier of copper, gold and silver. EXPANSION LIES AHEAD for Boliden s operations and the importance of Aitik is increasing. IN 2010 the new Aitik mine expansion is completed. Boliden will then be the owner of a world-class copper mine. These are the advantages of New Aitik Improved competitiveness Increased profitability Increased ore reserves Reliable supplier of copper concentrate New product - molybdenum concentrate Increased gold production Improved environment Potential for further expansion Aitik a Success Story The Aitik mine in Northern Sweden has been Europe s largest open pit copper mine for a long time. It will now become twice as large. Aitik s history starts with the discovery of the deposit at the beginning of the 1930s. Its exploitation became possible only in the 1960s, thanks to modern mining equipment and technology. The mine was put into production in 1968, and the production was set at two million tonnes of ore. Since then, the production has gradually increased to today s 18 million tonnes per year. The increased production has resulted in lower production costs per tonne of concentrate, which makes it possible for Boliden to produce copper concentrate at a competitive cost. This will continue to be Boliden s prime objective. Aitik has this capacity. When the mine was put into production, ore reserves amounted to 50 million tonnes of ore. Today, ore reserves amount to 630 million tonnes of ore. Up until today, Aitik has produced approximately 450 million tonnes of ore. Associated with the copper, large quantities of gold and silver have been mined at Aitik and recovered at Boliden s smelter Rönnskär. Molybdenum new metal produced by Boliden Molybdenum is a silver-white metal, almost as hard as tungsten, but more malleable. It is an extremely valuable alloy and efficient at hardening steel at high temperatures. It oxidizes at high temperatures. Molybdenum is used in the nuclear power industry, aircraft and missile parts, and electric and electronic appliances. Molybdenum sulphide is a good lubricant, especially at high temperatures, and is therefore used in space applications. Molybdenum is important in plant nutrition. Molybdenite is often found associated with copper- and wolfram mineralization.

3 Concentrat termina New concentrator Conveyor Intermediate stockpile Surface crusher Conveyors New access road to the concentrator New industrial site New

4 e l New pumps for reclaimed water New pumping station for reclaimed water Pipeline for reclaimed water Haulage road for concentrate Pipeline for process and surface water Pipeline for process and surface water In-pit crusher Sakajärvi Lake access road

5 Future exploration At Liikavara Östra, the mineralization is explored and known down to a depth of 200 m. Potential mineralization below 200 m Potential mineralization in areas with elevated copper contents north of the road and south of the meralization, not yet explored Sub-cropping sulphides north and south of Aitik, the result of rock chip sampling At Aitik Östra, drilled down to 200 m depth, potential mineralization below 200 m depth. Salmijärvi ore known down to 165 m depth, not explored at deeper levels. At the east side of the pit, there are high-grade copper gold sulphide zones. Exploration New Aitik 36 million tonnes View of Aitik. Diamond drilling at the Aitik mine.

6 New Concentrating Plant The concentrator (to the right) will be based on cuttingedge technology and on results from large scale tests. Two of the largest grinding mills commercially available will replace today s five grinding mills. The new concentrator will be equipped with the following in 2010: Two in-pit crushers, one surface crusher Semi-mobile crushers (with apron feeders) New system of conveyors with a length of 7 km 3.5 km of conveyor belts in underground drifts Two milling lines with a nominal capacity of 2025 t/h Primary mill 21 MW with wrap around motor 11.6 x 13.7 m 26 floatation cells with a 160 m 3 volume Depyritization floatation cells Three pressure filters Molybdenum recovery circuit and CIP circuit for gold recovery New water treatment system in operation in 2009 New concentrate terminal in 2009 Grinding Leaching of gold Floatation Ore stockpile Control room Dewatering Administration offices/ laboratory New Industrial Site Truck workshop in operation in 2010 Welding shop in operation in 2015 Administration offices and storage buildings in operation in 2015 Investment costs approx. SEK 5.2 billion Access road to mine Safety shelter Changing-rooms Restaurant Welding shop Truck workshop Administration offices Administration offices Parking lot Recycling station Unheated storage building Heated storage building New Aitik 36 million tonnes