Swedish mining group Boliden has launched change negotiations at its Kevitsa open-pit mine in northern Finland, a process that could affect up to 285 employees as the company reassesses operations following a significant increase in the country’s mining tax.
Boliden said the review was triggered by the Finnish government’s decision earlier this year to quadruple the tax applied to metal ores. The levy is calculated based on the taxable value of metals, which is linked to international market prices.
The Kevitsa mine, located north of Sodankylä in the Lapland region, is one of Europe’s largest nickel and copper operations. Boliden warned that the higher tax burden could undermine the competitiveness of large-scale mining projects in Finland.
Tom Söderman, general manager of Boliden Kevitsa, said the company believes European mining of critical metals such as nickel and copper should be supported by stable and competitive long-term business conditions.
According to the company, the tax increase has already forced it to suspend plans for a €1 billion investment programme intended to extend the life of the Kevitsa mine beyond 2034. The company also noted that contractors and service providers linked to the operation could be negatively affected if operational adjustments are implemented.
The review comes despite Boliden reporting strong financial performance. The company posted profits of 9.4 billion Swedish kronor (approximately €879 million) in 2025, representing a net profit margin of around 10 percent.
Industry observers say the development highlights growing tensions in Europe between efforts to strengthen domestic supply of critical minerals and policy decisions that may increase costs for mining companies.
