Boliden's units are highly energy intensive. The origin of our electricity is determined by the so-called national energy mix of the grids in the various countries in which we operate. This means that hydroelectricity is the primary source of energy at the Swedish and Norwegian production units, while in Finland, nuclear power and renewable energy are the most common sources. In Ireland, almost 90 per cent of the electricity is generated from fossil fuels, chiefly gas.
The importance of a long-term electricity supply
Boliden is promoting the long-term electricity supply issue on a number of levels. In the political arena, we actively promote issues that enable us to ensure sufficient supplies of primary energy and put across our views on the ways in which political decisions affect pricing and availability – factors which, in the long-term, generate a substantial part of the preconditions for our operations. Boliden is also an active member of several organisations which aim, on a broader front, to promote increased energy efficiency and sustainable energy solutions in the form of joint industry projects focusing on in-house energy production. In 2005, we formed a company called BasEl in partnership with a number of Swedish electricityintensive companies. Boliden is involved, via BasEl, in the VindIn wind power project.
Boliden is also a part of Industrikraft AB, a company aiming to develop a new means of power generation in Sweden, and in the Finnish Fennovoima, which is planning a new nuclear power plant scheduled to be operational by 2020. As a part-owner of the new nuclear power station, Boliden will receive electricity at cost price in relation to our share in the company.