Boliden’s Q3 earnings beat market expectations

Swedish mining group Boliden reported a bigger than expected rise in its core earnings on Tuesday, saying production during the quarter had been good and metals prices were picking up.

Quarterly revenue for the mining group rose 14% to 22.2 billion crowns, from 19.4 billion in the same period last year.In a research note, JPMorgan noted Boliden’s 2024 guidance is unchanged but said the 2025 outlook is weaker than its own estimate. The company announced in September it expected delays to start of Odda expansion project, now expected at the end of the first quarter of 2025.

On Tara, Europe’s largest zinc mine, the company said preparations for a restart are running according to plan.

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