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 mean20-30 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prepared and that no proper impact assessments have been made, and that the current proposals should therefore be withdrawn in their entirety.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 70453 65 88 Klas.Nilsson@boliden.com
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https://news.cision.com/boliden/r/statement-on-changed-tax-conditions-in-finland,c4219193
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SOURCE Boliden
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