April 23 (Reuters) - Swedish miner Boliden's

first-quarter operating profit fell more than 50% as bad winter

weather, lower mining grades and the impact of strike action

weighed on earnings, it said on Tuesday.

Operating profit fell 52% to 1.62 billion Swedish crowns

($148.81 million) from 3.41 billion in the first quarter of 2023

and compared with the 1.55 billion crowns expected by analysts

in an LSEG poll.

However, its operating profit excluding the revaluation of

process inventory at 1.21 billion crowns missed expectations by

11% according to JPMorgan ( JPM ).

"Our production during the first quarter was a bit more

challenging than ordinary winter months," said CEO Mikael

Staffas in a statement, citing "extremely tough" weather

conditions in January and political strikes in Finland.

The metals maker said now-suspended strikes had hurt its

earnings by 400 million crowns in the period, lower than the 500

million impact it had flagged in March.

The Swedish copper and zinc producer reiterated its guidance

of investments of 15.5 billion crowns during 2024.