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STOCKHOLM: Mining and smelting group Boliden will invest 40 million euros ($47.47 million), mainly in 2021, to expand nickel operations at its facility in Harjavalta, Finland, it said in a statement on Friday.

The Swedish company said the expansion at Harjavalta, the largest nickel smelter in the European Union, included a new concentrate dryer and increased capacity in the electric smelting furnace.

"The investment strengthens our productivity and competitiveness while further improving our already very strong environmental performance," Daniel Peltonen, head of Boliden's Smelters unit, said in a statement.