On July 18th, Boliden released its Q2 report, listing a few highlights on the operation in the past quarter. Boliden reported Q2 operating profit (excluding process inventory revaluation) of SEK 1,281 million, including SEK -126 million in items affecting comparability, down sharply from SEK 4,000 million in Q2 2024. Free cash flow, excluding acquisitions, reached SEK 2,035 million, while total free cash flow stood at SEK -12,354 million due to acquisition costs of SEK -14,389 million. Despite the major acquisition, the company maintained a modest net debt-to-equity ratio of 29% (up from 24% last year). A weaker USD impacted earnings by approximately SEK -600 million compared to both Q1 2025 and Q2 2024. Lower treatment charges also weighed on results. Planned maintenance at smelters was executed successfully but reduced operating profit by SEK 400 million. Somincor and Zinkgruvan were consolidated into Boliden as of April 16. Meanwhile, Aitik achieved record mine production, including waste rock and ore.