Boliden AB (publ) (OM:BOL) is looking for M&A. Mikael Staffas, President and CEO said, "M&A has always been and will continue to be an opportunistic situation for us. We are not driven primarily by the fact that we would have a constraint on cash or have ample of cash. We're looking at doing M&A if we find the right deal that would create value, and then we will be interested in doing it.

But it's not a major part of our strategy. The major part of our strategy is the organic growth that we can create. And as you said, we are pretty busy.

It's not that we need more things to do. But if there were to be an M&A opportunity showing up that would be considered by us to be value creating, we will be looking at that one disregarding of where we are in the cycle".