Boliden Bets on Battery Boost as Electrification Gains Traction
- Swedish miner and smelter expects higher demand for copper
- May also benefit from cobalt demand, higher nickel prices
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Boliden AB, the mining company that traces its roots to a 1920s gold discovery in northern Sweden, is preparing for a future where everything from boats to cars and its own machines run on electricity.
Although the company’s mines mainly produce base metals needed for construction and manufacturing, Chief Executive Officer Mikael Staffas says a number of its assets fit perfectly into a world of large-scale battery manufacturing. Demand for cobalt could expand the lifetime of its Kylylahti mine in Finland and Boliden expects to see higher prices for nickel used in electric vehicles, Staffas said. But the biggest opportunity lies in copper.