Economic performance (EC)

The locations of Boliden’s operations are determined by the localisation of mineral resources and the ability to explore and expand operations in connection with them. Good community relations and mutual understanding are a prerequisite for Boliden’s business success and to enable the business to grow.

Boliden also contributes to long-term economic growth by providing metals that are important for society’s industrialisation and development.

Material economic aspects

The economic aspects identified as material to Boliden are economic performance, market presence and indirect economic impact. All of these aspects are closely linked to Boliden’s overall performance. They are both the result of and a precondition for trust from the local communities where Boliden operates. By taking these aspects into account and performing well in respect of them, Boliden maintains its licence to operate and the ability to develop the business.

Boliden’s contribution to the community is multi-faceted and includes investing in education and engaging with students, nurturing competence and enabling conversion from one occupation to another to make people employable; sponsoring local organisations; making investments that benefit the company and the community, etc. These are matters that support job creation and strengthen rural communities’ contribution to national economic stability. Looking back, one of the Group’s focus areas has been to generate a positive economic impact on the local community.

Several of Boliden’s most important locations and locations where major investments have been made are regions where growth injections are needed. Boliden is aware of the company’s role and significance as what is often the biggest employer in the community and a generator of positive trickle-down effects, such as tax income to finance public services, and as a foundation for a private service sector. This brings both privileges and responsibilities.

Salaries are an important part of the economic compensation to the community. In general, the entry level wages for employees are set higher than the minimum wage, and average salaries and wages are often higher than the national industrial average. For blue-collar employees, there is an entry-level wage stated within the local salary agreement that is used for new employees.

For white-collar employees hired directly out of universities, Boliden applies entry-level wages, depending on the level of education needed for different jobs.

Social impact assessments are conducted in order to assess the consequences for the local community, both in connection with expansions of and other significant changes to operations, and in conjunction with the closure of operations.

Please see the following sections of this report and pp. 48-49 of the Annual Report to learn more, over and above the indicator reporting, about the ways in which Boliden manages, follows up on and monitors its performance in relation to these aspects.