Boliden has sanctioned an investment of SEK1.25bn ($149.15m) for the expansion of its Kristineberg mine in northern Sweden by developing the Rävliden deposit.

The deposit to be developed contains copper, lead, zinc, silver, and gold. Production from the Rävliden deposit is targeted to begin in 2023.

Boliden said that an exploration programme carried out at the deposit resulted in inferred and indicated mineral resources of 8.4 million tonnes, with a scope for additional reserves.

According to the Swedish mining company, a significant part of its investment is subject to a permit being obtained for increasing the production at the underground mine.

Boliden said that the expansion is anticipated to help increase the milled volumes in the Boliden Area to 1.8 million tonnes.

Boliden business area mines president Stefan Romedahl said: “This is a very important step in future-proofing the entire Boliden Area. The expansion and modernization of the mine will take place in several stages, during which we will, of course, also evaluate opportunities for employing fossil-free technology.

“In parallel, we will continue with exploration efforts in the area.”

Boliden has filed an application with the Swedish Land and Environment Court, seeking its approval for expanded production at the Kristineberg underground mine.

Simultaneously, the Swedish miner will make preparatory investments in infrastructure, water treatment, and others.

Subject to the approval of its application, Boliden will complete the investment, which covers the installation of a new ramp and a new crushing station.

The company said that the expansion will also help extend the life of the Kristineberg mine. Besides, it will improve the capacity utilisation in the Boliden Area’s concentrator.

Located in the mineral-rich Skellefteå field in Västerbotten, the Boliden area also hosts the Renström and Kankberg underground mines.