Boliden AB · OMXSTO:BOL
Boliden AB — Investor Day (September 2009)
11 slides from Boliden AB's investor day presentation, Sep 1, 2009
Slide 1: A slow moving industry in fast change
Rubrik Capital markets day 1-2 September 2009 Bildplatshållare A slow moving industry in fast change Lennart Evrell President & CEO Boliden AB 2 2009-09-01
Slide 2: Situation at Kokkola 2008 and Aitik 2009
Situation at Kokkola, 5 November 2008 Market development since 1 January Cu price down -40% Zn price down -50% USD +20% Boliden stock down -70% Boliden AB 3 2009-09-01 Situation at Aitik, 1 September 2009 Market development since 1 January Cu price up 100% (-40%) Zn price up 50% (-50%) USD -10% (+20
Slide 3: Welcome to Aitik
Kokkola 2008: Aitik 2009: ”Fundamentals in Mining and ”A long term industry in fast Metals” change” • Smelters focus • Mines focus • Where will metal prices bottom • Market update out? • Smelters market update • Ore reserves and long term • Aitik update prices • Boliden Area update • Revenue model f
Slide 4: Strategy
Welcome to Aitik 1,000 million tonnes 3,000 oil tankers VLCC, 1/day for 10 years Boliden AB 7 2009-09-01 Strategy • Boliden’s starting point • Strategic themes Bildplatshållare • Implications Boliden AB 8 2009-09-01
Slide 5: A global position in zinc, European position in copper
A global position in zinc A European position in copper A leading position in E-scrap Production Thousand tonnes of metal content; 2007 no 1 in Global No 8 No 4 No 37 No 20 Europe* position 340 463 ~30 tonnes of e-scrap 320 59 Mining Smelting Mining Smelting E-scrap Zinc Copper** * Position globally
Slide 6: In zinc smelting, Boliden is on mid position
In zinc smelting, Boliden is on mid position Cash conversion costs in zinc smelting Boliden 2007; USc/lb 60 Other 50 40 Odda Kokkola 30 20 10 0 Copyright: Brook Hunt, Boliden AB 2009-09-01 In copper refining Boliden is on mid/high side of curve but the data does not consider the strong by-product ac
Slide 7: Boliden copper smelters have developed high flexibility
Boliden copper smelters have developed high flexibility Values i Anodes 105000 95000 Cu Se Te Bi Sb Cd As Pb S Sn Ni Ag Au 85000 75000 65000 Source: Anode Assays Brook Hunt 2006 55000 45000 Saganoseki Chuquicamata Toyo Tamano Flin Flon San Manuel La Caridad La Oroya Huelva Norddeutsche Naoshima Legn
Slide 8: Top ten list in zinc not as dominated by major miners
Top ten list in zinc not as dominated by major diversified miners as most other metals.. 2007 production Million tonnes of metal content Mining Share Smelting / Refining Share 0.84 7.6% 1.09 9.8% 0.75 6.8% 1.06 9.5% 0.71 6.4% 0.91 8.1% 0.54 4.9% 0.46 4.1% 0.54 4.8% 0.42 3.7% 0.35 0.40 0.34 0.38 0.32
Slide 9: Increasing geographic diversity
Content • Boliden’s starting point • Strategic themes Bildplatshållare • Implications Boliden AB 17 2009-09-01 Several other growth options than zinc and copper were evaluated Further Integrated mining diversified Smelting or & smelting (Cu or Integrated integrated Downstream in mining Zn) Cu and Zn
Slide 10: Summary of strategic focus
Content • Boliden’s starting point • Strategic themes Bildplatshållare • Implications Boliden AB 19 2009-09-01 Summary of strategic focus • Achieve operational excellence – Implement a corporate-wide strategic sourcing programme – Drive lean methodology for Smelters and Mines – Drive Aitik project w
Slide 11: Welcome to Aitik
Welcome to Aitik Boliden’s Capital Markets Day 1 - 2 September, 2009 iBOLIDEN