Swedish mining firm Boliden has entered into an agreement with Vattenfall through which the utility will supply around 4TWh of power to support Boliden's Nordic expansion efforts.
The contract with Vattenfall is scheduled to begin in 2010 and is part of a more wide-ranging partnership to guarantee competitive power prices for Boliden and enable it to secure long-term investments.
Beginning from 2008, Vattenfall will act as the balance provider in supplying electricity to Boliden’s Harjavalta foundry in Finland and will provide portfolio management services to parts of Boliden’s operations in Finland.
Boliden also requires more energy to support its expansion efforts in the Aitik mine in Gallivare, Sweden.
Svante Nilsson, acting CEO of Boliden, said: Apart from looking to protect our investment in Aitik, this is also consistent with our energy policy of signing long-term agreements for our production units where possible, in order to secure our electricity cost parameters.