SEK 212 million energy tax liability for Boliden

As previously announced by Boliden (11 Feb. 2013), the Swedish Tax Agency had stated, after a preliminary review, that it intended to impose an energy tax liability of SEK 212 million, plus interest, on Boliden for the improper use of dyed diesel at the Aitik mine during the period from April 2009 to October 2012. On 10 May 2013, the Swedish Tax Agency announced its decision to impose a liability in accordance with this review.

Boliden has stated that the error was purely administrative in nature and that the tax liability now imposed is disproportionate to the nature and scale of the error. The company has derived no financial gain from using wrongly dyed diesel and that the correct tax has been paid in accordance with the legislator’s intentions. When the mistake was discovered in October 2012, Boliden immediately contacted both the supplier in order to switch to the correctly dyed diesel, and the Swedish Tax Agency in order to inform them of what had happened.

Boliden intends to appeal the ruling and no provision has consequently been made.

For further information, please contact:
Marcela Sylvander, Director Group Communications, +46 8 610 1559

Boliden is a metals company with a commitment to sustainable development. Our roots are Nordic, but our business is global. The company’s core competence is within the fields of exploration, mining, smelting and metals recycling. Boliden has a total of approximately 4,800 employees and an annual turnover of approximately SEK 40 billion. Its shares are listed on NASDAQ OMX Stockholm, segment Large Cap.
www.boliden.com