New organisational segments – Mines and Smelters

Boliden will be presenting its results in two new segments, Mines and Smelters, due to the organisational change implemented by the Group on 1st January 2007.

Mines
The segment Mines comprises the operations of the Aitik, Boliden Area, Garpenberg and Tara mines. Aitik mainly produces copper concentrate with some gold and silver content. The other mines produce zinc, copper and lead concentrate. The copper and lead concentrate also contains gold and silver.

Smelters
The segment Smelters comprises the Rönnskär and Harjavalta copper smelters and the Bergsöe lead smelter. The smelters mainly produce copper, gold, silver, lead and lead alloys. The segment also includes the Kokkola and Odda zinc smelters, which mainly produce zinc. Odda also produces aluminium fluoride.

Other
The segment Other comprises the elimination of intra-Group sales and the Group staff functions and Group-wide functions that do not form part of Mines or Smelters. Transactions between the segments, mainly involving metal concentrates, are settled on market terms.

The market valuation of financial derivative instruments used to manage currency and metal price risks is reported under Other until such time as the underlying flows are reflected in the Income Statement. Appendix 1 contains a breakdown by quarter of Boliden’s metal price hedging in 2007.

Appendix 2 presents the segment breakdown by quarter and by the full years, 2005 and 2006.