Swedish mining and smelting group. Completed acquisition of the Neves-Corvo copper-zinc mine in April 2025, one of Europe's largest base-metal mines, employing 1,300–2,000 people in the Alentejo and generating critical raw materials for EU supply chains.
Boliden is a Swedish mining and smelting group listed on Nasdaq Stockholm and one of Europe's largest base-metal producers. In April 2025, Boliden completed its acquisition of the Neves-Corvo mine from Lundin Mining for USD 1.3 billion on an enterprise-value basis. The mine, located near Castro Verde in the Alentejo, is Portugal's largest copper mine and one of the largest underground copper-zinc mines in Europe.
The acquisition strengthens Boliden's position significantly: it will increase the company's zinc concentrate production by 95% and copper concentrate production by 43% based on prior production levels. In 2023, Neves-Corvo produced approximately 34,000 tonnes of copper and 109,000 tonnes of zinc. The Portuguese operation employs 1,300–2,000 people directly, with additional employment through contractors and the local supply chain.
Neves-Corvo is Portugal's single most important mining asset and now ties the Portuguese economy directly into Boliden's global supply strategy and EU critical-raw-materials initiatives. The acquisition reinforces Sweden's role as an anchor industrial investor in southern Portugal and demonstrates Nordic commitment to Portugal's mineral wealth — a relationship that predates almost every other Nordic investment wave and represents one of the deepest industrial roots of the Nordics→Portugal corridor.
April 2025: Boliden completed acquisition of Neves-Corvo and Zinkgruvan mines, combining both assets under unified Boliden ownership for the first time. This marks a major consolidation in Nordic control of Portuguese base-metal production. Integration planning is underway to align the mine with Boliden's global operational standards and sustainability frameworks. Track latest developments on our corridor news feed.
Status: Compiled from public sources · Last verified: · Update this profile
Work at Boliden? Send corrections or additions. Every update is checked before it is published; submissions are reviewed within a few working days.
Fractio helps Nordic companies enter the Portuguese market — from market sizing to first sales, hiring, and legal setup.
Talk to Fractio →