In December 1924, gold fever breaks out around 30 km north west of Skellefteå. The first ore deposit is discovered in Fågelmyran, laying the foundations for what today is the Boliden Group. Two years later, the first ore is mined and a flourishing community soon grows up in Boliden.
It's a cold winter's day in December, 1924. At the Fågelmyran mine outside Skellefteå, the persistent grinding of a drill can be heard. Silence falls as the final drill core is retrieved. "What on earth... Good heavens, it's pure gold!" What came to be known as the Boliden ore body was discovered. The first ore is mined a few years later and the Boliden mine grows to become one of Europe's biggest and richest gold mines.
However, gold fever had already broken out in 1900 in Skellefteå and surrounding regions. A shortage of metal during the closing years of the First World War led to an increasing interest in prospecting the area for ore. A new type of speculative holding company known as an issuing company was established by the banks. The Boliden we know today has its origins in one such company, Centralgruppens Emissionsbolag.