Västerbotten Investment Agency

Bank guarantee secure continued operations of Boliden’s Renström mine in Västerbotten

december 11th, 2014

renstrom_bolidenomrRenström, Boliden area

A bank guarantee of USD 2.7 million from The Royal Bank of Scotland gives Boliden green light to continue mining ore in the Renström mine.

Last spring, Boliden got a requirement from the Land and Environment Court to enforce the existing Renström mine permit allowing a  volume of up to 420 000 tons of ore per year. At the same time, the company was requested to provide a financial security of USD 2.7 million to meet the costs of environmental damage, remediation and restoration measures that the judgment might mean.

Boliden’s security consists of a bank guarantee issued by The Royal Bank of Scotland and it has now been approved by the Land and Environmental Court in Umeå.

In the Renström mine, zinc, copper, lead, gold and silver are broken. The mine is located on the border between Skellefteå and Norsjö, was commissioned in 1952 and is Sweden’s deepest mine.

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