Latest news with #Boliden
Reuters
18-07-2025
- Business
- Reuters
Nordic Industrials flag FX bruises as dollar dents Q2 profits
July 18 (Reuters) - Sweden's engineering giants are feeling the strain as currency swings and uncertainty around tariffs weigh on their profits, second-quarter earnings from some of the region's biggest industrial players showed. At first glance, activity levels remained healthy, but a weaker U.S. dollar impacted companies this quarter, chipping away at profits even for companies with solid order books and global footprints. Shares in Epiroc ( opens new tab dropped 5.5%, hitting the bottom of the pan-European STOXX 600 (.STOXX), opens new tab index on Friday, after the mining equipment maker missed expectations. Weak demand and pressure on its construction unit outweighed efforts by the company to improve efficiency. Miner Boliden ( opens new tab also saw its earnings fall short of expectations, as the weakening U.S. dollar had a greater impact than anticipated. Boliden's results served as a stark reminder of how much the dollar matters in export-heavy Scandinavia. Metals sold by the Swedish miner are priced in U.S. dollars, which means that when the dollar is weak the sales value of its products falls when converted back into Swedish crowns. While demand for minerals and industrial components is still high, companies like SKF ( opens new tab and Trelleborg ( opens new tab say that more clients are holding off on non-essential purchases or phasing out investments due to the tariff uncertainty. SKF beat estimates this quarter, but noted a currency headwind impacting earnings. Atlas Copco ( opens new tab reported a lower order intake due to a negative currency effect. Its shares fell nearly 10% on Friday, marking their worst day of trading in nine years. Trelleborg missed market forecasts for second-quarter core earnings on Thursday. It warned U.S. President Donald Trump's trade war was making customers cautious about placing new orders. Companies' profit margins are so far holding firm, largely due to efforts to save money, keep prices higher and cut jobs, but its uncertain how long those efficiency drives will work as foreign exchange and cost rises eat into profits, analysts say.
Reuters
18-07-2025
- Business
- Reuters
Swedish miner Boliden lags earnings forecasts in 2nd quarter
July 18 (Reuters) - Boliden's ( opens new tab operating earnings fell more than analysts had expected in the second quarter, the Swedish miner reported on Friday, while reiterating its investment plans for 2025. Boliden's quarterly operating profit fell to 1.09 billion Swedish crowns ($112.11 million) on a reported basis, from 4.81 billion a year earlier. That missed the average forecast of 1.48 billion crowns from analysts polled by LSEG. The result was mainly hampered by the weaker U.S. dollar and stops for major planned maintenance at its smelters, the company said in the earnings statement. Metals sold by Boliden are priced in U.S. dollars, which means that at times of weak dollar, the sales value of its products falls when converted back into Swedish crowns, Boliden's reporting currency. ($1 = 9.7228 Swedish crowns)
Yahoo
12-07-2025
- Business
- Yahoo
Troilus Gold signs offtake terms with Boliden for copper-gold concentrate
Troilus Gold has reached indicative commercial offtake terms with Boliden Commercial for the sale of copper-gold concentrate from the Troilus project in Quebec, Canada. The Troilus project, according to the May 2024 feasibility study, is set to produce an average of 135.4 million pounds of copper equivalent annually. This translates to 75,000 wet metric tonnes (WMT) of concentrate that contains payable copper, gold, and silver. The indicative terms of the offtake include concentrate quality specifications, precious metals payabilities, treatment and refining charges, and penalties for deleterious elements. Metallurgical testing and historical data suggest that the concentrate will meet the required standards without penalties. The agreement with Boliden follows a similar agreement with Aurubis, a Germany-based provider of non-ferrous metals, and underscores the project's role in the European critical minerals supply chain. Troilus Gold CEO Justin Reid stated: 'We are proud to welcome one of Europe's most respected mining and smelting companies as an offtake partner, renewing a long-standing relationship that began during Troilus' past-producing years, when Boliden processed some of the site's original concentrate. We are pleased to align with key players in Europe's critical minerals ecosystem and believe these recent offtake agreements reinforce our technical credibility and the high quality of the product we intend to deliver. 'With the recent filing of our environmental and social impact assessment and these offtake milestones, we are advancing across regulatory, technical and commercial fronts toward a construction decision. We look forward to building a long-term partnership with Boliden and are proud to align with organisations that share our values around responsible sourcing and long-term collaboration.' The final binding offtake agreements with Boliden and Aurubis are anticipated to coincide with the completion of a comprehensive $700m debt financing package announced in March 2025. This financial support is being organised by Société Générale, KfW IPEX-Bank, and Export Development Canada, with expected backing from European export credit agencies. Troilus Gold's debt financing efforts are supported by Auramet International and Ocean Partners USA, which are advising on the structuring and negotiation of the offtake strategy. The company is progressing towards a construction decision for the project. "Troilus Gold signs offtake terms with Boliden for copper-gold concentrate" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-07-2025
- Business
- Yahoo
Troilus Agrees to Commercial Offtake Terms with Boliden for Copper-Gold Concentrate
MONTREAL, July 10, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. ('Troilus' or the 'Company') (TSX: TLG; OTCQX: CHXMF; FSE: CM5R) is pleased to announce that is has agreed to indicative commercial offtake terms with Boliden Commercial AB for the sale of copper-gold concentrate expected to be produced from the Company's Troilus Project in north-central Quebec, Canada. Boliden is a leading global base and precious metals company that operates seven mines and five smelters throughout Sweden, Finland, Norway, Ireland and Portugal. This agreement marks the second offtake arrangement for Troilus, following the recently announced agreement with Aurubis AG (see June 18, 2025, press release). Together, these partnerships further validate the quality of Troilus' anticipated concentrate and highlight the Project's strategic importance within the European critical minerals supply chain. As outlined in the Company's May 2024 Feasibility Study (see May 14, 2024 press release), the Troilus Project is expected to produce an annual average of approximately 135.4 million pounds of copper equivalent, or 75,000 wet metric tonnes (WMT) of concentrate containing payable copper, gold, and silver. Justin Reid, CEO of Troilus Gold, commented, 'We are proud to welcome one of Europe's most respected mining and smelting companies as an offtake partner, renewing a long-standing relationship that began during Troilus' past-producing years, when Boliden processed some of the site's original concentrate. We are pleased to align with key players in Europe's critical minerals ecosystem and believe these recent offtake agreements reinforce our technical credibility and the high quality of the product we intend to deliver. With the recent filing of our Environmental and Social Impact Assessment and these offtake milestones, we are advancing across regulatory, technical, and commercial fronts toward a construction decision. We look forward to building a long-term partnership with Boliden and are proud to align with organizations that share our values around responsible sourcing and long-term collaboration.' The final binding offtake agreements with both Boliden and Aurubis are expected to be executed in connection with the completion of the Project's broader US$700 million debt financing package, announced on March 13, 2025. This financing is being structured by a syndicate of global financial institutions, including Société Générale, KfW IPEX-Bank, and Export Development Canada ('EDC'), and is expected to include support from various European export credit agencies including Finnvera plc, the official Export Credit Agency of Finland, and from EKN, the Swedish Export Credit Agency, tied to equipment procurement and long-term offtake agreements. The indicative offtake terms include expected specifications for concentrate quality, payabilities on precious metals, treatment and refining charges, and penalties for deleterious elements. Metallurgical testwork conducted to date, along with historical data from the prior operation, indicates that no penalties are anticipated outside the thresholds outlined in the agreement. Auramet International Inc. remains engaged in the ongoing structuring of the debt package and lender engagement, and Ocean Partners USA Inc. continues to act as Troilus' independent third-party advisor on the development and negotiation of its concentrate offtake strategy. The Company remains focused on advancing all aspects of the Project toward a construction decision and will provide further updates as progress continues. *The completed NI 43-101 technical report associated with the Troilus Project Feasibility Study can be found on SEDAR+ at under the Company's issuer profile or on the Company's website at About Troilus Gold Corp. Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America. For more information: Caroline ArsenaultVP Corporate Communications+1 (647) 276-0050info@ press release contains 'forward-looking statements' within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the potential offtake on the Company and the likelihood that the Company will be able to negotiate a definitive offtake agreement on the terms and timeline indicated or at all, the likelihood that binding funding commitments will follow on the timeline projected or at all, the likelihood that ECAs will provide financing and guarantees, advancing towards a fully funded construction package, the expected capacity of the Troilus Gold-Copper Project development plans to advance the Troilus project towards construction, the impact of due diligence on structuring a definitive project debt package, the likelihood of structuring a definitive project debt package with financial close on stated timeline or at all, structuring, identifying, and engaging potential financing participants, development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in Noth America; the development potential and timetable of the project. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'continue', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'will', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Company's latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company's profile at Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities in to access your portfolio
Yahoo
28-05-2025
- Business
- Yahoo
Long term financing for Somincor and Zinkgruvan acquisition in place
STOCKHOLM, May 28, 2025 /PRNewswire/ -- "The acquisition of Somincor and Zinkgruvan is pivotal to the long-term development of Boliden. I am of course very pleased that we now have concluded the financing of the acquisition, fully in line with the intentions at the announcement of the transaction. We are also grateful for the wide support from our relationship banks, shareholders, and other stakeholders", says Håkan Gabrielsson, CFO Boliden. Boliden has entered into Sustainability Linked EUR 700 m Term Loan (Term Loan) with a three-year tenor with the option to be extended by two additional years in total. The loan is provided by BNP Paribas, Royal Bank of Canada, Skandinaviska Enskilda Banken, ING, Nordea, Danske Bank, DNB and Swedbank. The proceeds from the Term Loan will be used to repay the bridge loan agreement which was put in place to finance the acquisition of Somincor copper and zinc mine in Portugal and the Zinkgruvan zinc mine in Sweden. Together with the equity raised by Boliden in March 2025 and the exclusion of dividend in 2025, approved by the Annual General Meeting in April 2025, the Term Loan marks the final step in the take-out financing of the bridge loan agreement which now has been fully repaid. For further information, please contact:Klas NilssonDirector Group Communications+46 70 453 65 This information was brought to you by Cision The following files are available for download: Press release View original content: SOURCE Boliden Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
