Officials at Boliden AB have announced their purchase of the Kylylahti copper mine and other copper-nickel deposits in eastern Finland's Outokumpu field from Australia-based Altona Mining Ltd. for $95 million. Opened in 2012 with a lifespan forecast through 2021, Kylylahti has an annual production capacity of 650,000 ore tons, with copper representing 80% of revenues, and gold, zinc and silver accounting for the remainder.
"We are looking forward to the synergies in mining, metallurgy and exploration," said CEO Lennart Evrell. "Exploration potential has not been explored in any detail, which is naturally very exciting.”
For the year ending Q3 2014, production totalled 10,200 copper tons, 315 gold kg, 2,300 zinc tons, and 2,300 silver kg, according to company representatives. The mine, which already supplies concentrates to Boliden’s Harjavalta and Kokkola smelters, lies 450 km northeast of Helsinki, with 110 employees and 120 contractors.