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Boliden shares fall 6% on shortages and slow recovery

April 27, 2010 - 13:11 GMT Location: London

KEYWORDS: Boliden , zinc , copper , Aitik

Bolden’s share price fell 6% on Tuesday as the slow European recovery and copper concentrate shortage affected its first-quarter results

“Boliden’s metals are mainly sold to industrial customers in Europe, where the recovery is slow. The quarter has also been characterised by a shortage of copper concentrate, which causes problems for the copper smelters,” Boliden said. The company’s smelter copper production fell during the first quarter of 2010, with the fall particularly pronounced when compared with figures for the fourth quarter. “The reduction was primarily due to a concentrate shortage at the start of the year, which imposed limitations on production,” Boliden said. Production gradually increased during the quarter. Boliden mined copper production increased slightly compared with the corresponding period in 2009, although it was up 20% from the previous quarter. “The increase...

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