The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Viktor Trollsten - Danske Bank A/S, Research Division - Analyst
: Maybe first, just a clarification on your previous -- on some of the delta in returns on the Odda project. Just trying to understand, when you are
calculating the returns, I suppose you are using your planning prices that we can see in your annual report. But listening to your previous answer,
it sounds like you have changed those planning prices in terms of zinc treatment charges, zinc prices, et cetera. Could you just clarify how we
should look at it?
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JULY 21, 2022 / 7:30AM, BOL.ST - Q2 2022 Boliden AB Earnings Call
Question: Viktor Trollsten - Danske Bank A/S, Research Division - Analyst
: Okay. No, that's clear. I guess that's what I was after, that it sounds like in the coming year or so, that we could see some upside to planning prices.
That's how I interpret it, but...
Question: Viktor Trollsten - Danske Bank A/S, Research Division - Analyst
: Yes, I completely agree on that. But -- okay. And on the CapEx budget now and just maybe if you can expand a bit on your best estimate that you
talked about. So if -- I guess a big element of the project is, let's say, steel prices. So if we are running at current spot prices, we said that those are
fixed for the coming years, then we end up at the CapEx budget. And any fall in prices would actually imply downside to your new CapEx budget?
Or is that how we should see it?
Question: Viktor Trollsten - Danske Bank A/S, Research Division - Analyst
: Okay. No, I guess that makes sense. Then -- or maybe finally, if I may, just on the mining operational performance in the quarter, at least from my
perspective, Aitik grids are sort of ahead of guidance. And I know that you typically talk about, let's say, 10% variation in grid guidance. But would
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JULY 21, 2022 / 7:30AM, BOL.ST - Q2 2022 Boliden AB Earnings Call
you be able to sell that first half grids are ahead of your first expectations? Or should we -- or have you expected the grids to decline by, let's say,
14%, 15% in the second half all along, so to speak?
Question: Viktor Trollsten - Danske Bank A/S, Research Division - Analyst
: That's clear. And then finally on Kevitsa...
Question: Viktor Trollsten - Danske Bank A/S, Research Division - Analyst
: Yes, yes. Sorry, it's hanging up a bit on the line. But Kevitsa run rate on the mill or in the quarter was quite impressive. Is it a sustainable level? Or
was it an extraordinary quarter from that perspective?
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