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The outlook for continued increases to the life of LKAB’s mines has been greatly enhanced by these additions to the mineral assets of the company
Ian Cope, Vice President Exploration at LKAB
The investment and ownership in REEtec is thereby a natural extension of our value chain and fits well with our strategy.
Leif Boström, Senior Vice President, Business Area Special Products at LKAB
The climate can't wait and demand for the raw material for producing fossil-free steel is already upon us – before we have even reached the market.
Jan Moström, LKAB's President and CEO
There is tremendous global interest in what is happening in our part of the world right now. We are breaking new ground on the journey towards fossil-free iron and steelmaking, which is the greatest thing we can do together for the climate. Expo is a unique opportunity to place Sweden and LKAB on the map in relation to the sustainability challenges the world is facing and we hope that others will follow our example.
Jan Moström, President and CEO LKAB
To improve safety, reduce carbon dioxide emissions and to increase productivity in our mines is vital for LKAB to be able to continue to deliver climate-efficient iron ore products.
Jordi Puig, Head of Mining Technology at LKAB
In this case, the European Commission has pursued a policy of willingly subsidizing the steel industry's continued use of the least climate-effective technologies.
Jan Moström, President and Group CEO, LKAB
Such a large increase in mineral resources is a prerequisite both for continuing to operate as a mining company and for our major transition to carbon-dioxide-free products.
Pierre Heeroma, Senior Vice President Exploration
The premium for the spot price has been subject to downward pressure because of the current global uncertainty; at the same time, industries of the future are unquestionably driving towards more sustainable processes. LKAB continues to focus on developing and delivering highly upgraded iron ore products with clear added value and climate benefits in steelmaking processes.
Jan Moström, President and CEO of LKAB
In the coming years LKAB must have a solution in place to be able to mine iron ore at depths approaching or exceeding 2,000 metres in a cost-effective way by employing technology that is safe, autonomous, electrified, digitalized and carbon-dioxide-free. To enable this, collaboration with other leading industrial companies will be decisive. Sandvik's longstanding experience of producing underground vehicle systems will complement the ongoing work in an important way.
Jan Moström, President and CEO of LKAB
This investment will amount to several billion Swedish kronor and create hundreds of jobs. The industrial park will be a centre for chemical engineering where innovative technology is used to recover valuable resources. Here, we will set a global standard for clean products, energy efficiency and emissions,
Leif Boström, Senior Vice President, LKAB’s Business Area Special Products.
Together we can rebuild Sweden as the world’s first fossil-free welfare nation
Swedish Prime Minister Stefan Löfven
Achieving positive results from different heating technologies represents an important milestone on the road to delivering the world’s very first fossil-free iron ore pellets
Markus Petäjäniemi, Senior Vice President Market and Technology at LKAB
Ultimately, this will make LKAB's iron ore pellets completely carbon-dioxide-free.
Jan Moström, LKAB's President and CEO
Analyses of ongoing prospecting results indicate that the ore volumes in Kiruna at depth do not correspond to previous assumptions. LKAB is therefore now investing on a broad front to meet this challenge.
Jan Moström, LKAB's President and CEO
Now our goal is to have a full-scale plant for production of ammonium phosphate and rare earth metals within five years.
Leif Boström, Senior Vice President, Special Products Division
Jan Moström, LKAB’s President and CEO
The facilities in Mertainen will be kept in a condition such that we are able to start production at just a few months’ notice
There is only one way to go if we are to secure long-term sustainable mining operations in Malmfälten.We have to enhance productivity – in other words, produce more with fewer employees – and we have to cut costs by working smarter.
Jan Moström, President and CEO
LKAB is facing an intensely changing market which requires a somewhat different leadership competence, with increased focus on cost efficiency and productivity. LKAB's board has decided to appoint a new CEO with experience in rationalization and development of the mining industry. Jan Moström will contribute great knowledge especially in production.
Sten Jakobsson, LKAB's Chairman
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Interim Report July–September 2024: A quarter marked by challenges in production

LKAB’s third quarter was marked by major production disruptions and several lengthy production shutdowns. Net sales and operating profit for the quarter were also impacted by lower iron ore prices and deliveries.Net sales for the third quarter amounted to MSEK 8,373 (10,819) while operating profit amounted to MSEK 2,067 (4,987), with the decrease in profit due to weak production, lower deliveries and falling market prices. High inventory levels for pellets following the stoppages on the Iron Ore Line meant that the weak production did not limit the capacity to deliver, however. During the

LKAB takes the next step in its investment in critical minerals

LKAB’s board of directors has made an investment decision to establish a Research and Development centre and a Demonstration facility for processing of Phosphorous and Rare Earth Elements in Luleå, Sweden. The investment of approximately SEK 0,8 billion marks a significant next step in LKAB´s ongoing transition and investment in critical minerals.“This is an important milestone for LKAB and our ambition to broaden our business with critical minerals. The investment decision builds further on our approach to realising our transition step by step, making well-informed decisions along the way.

LKAB’s interim report for the third quarter 2024 to be published on 24 October

LKAB’s interim report for the third quarter 2024 will be published on LKAB’s website at around 16.00 CEST on 24 October.The report will be sent out as a press release and published at https://lkab.com/en/financial-information/. LKAB’s President and CEO Jan Moström will be available for comments by phone. Calls may be booked through Niklas Johansson, Senior Vice President Public Affairs and External Relations, on +46 10 144 52 19.

LKAB applies for three strategic projects in the EU for mining and upgrading rare earth metals

LKAB is now applying to make the iron ore mine in Gällivare, the planned industrial site in Luleå, where LKAB will separate phosphorus and rare earth metals, and the large deposit of rare earth metals in Kiruna strategic projects in line with the EU's Critical Raw Material Act.The aim of the EU's Critical Raw Material Act is to secure Europe's supply of critical minerals via increased production within the EU as well as through diversified supply chains. Underlying this, among other factors, are the geopolitical situation and a dramatic increase in demand for certain minerals, not least to

Interim Report April–June 2024: Improved quarterly results but with continued challenges

For the first half of the year LKAB’s net sales and operating profit both decreased as a consequence of missed deliveries at the beginning of the year. In terms of the second quarter, however, operating profit increased to MSEK 2,666 (2,257) as parts of accumulated inventories were delivered.Net sales for the second quarter amounted to MSEK 9,851 (9,350). The increase is mainly due to higher deliveries and a somewhat weaker Swedish krona. Operating profit amounted to MSEK 2,666 (2,257) and was also affected by insurance payouts received during the quarter as compensation for missed

LKAB’s interim report for the second quarter 2024 to be published on 14 August

LKAB’s interim report for the second quarter 2024 will be published on LKAB’s website at around 14.00 CEST on 14 August.The report will be sent out as a press release and published at https://lkab.com/en/financial-information/. LKAB’s President and CEO Jan Moström will be available for comments by phone. Calls may be booked through Niklas Johansson, Senior Vice President Public Affairs and External Relations, on +46 10 144 52 19 or Frida Dagertun, Investor Relations, on +46 920 380 70.

Changes to LKAB’s Group management team

For an increased local focus on our operating locations in the Swedish orefields, Stefan Hämäläinen will become Senior Vice President Community Development and thus part of LKAB’s Group management team from 1 August 2024. On the same date Niklas Johansson will move to the role of Senior Vice President Public Affairs and External Relations, and Maria Reinholdsson to Senior Vice President HR and Communications.Stefan Hämäläinen joined LKAB in 2013 and has since had responsibility for the urban transformations in Kiruna and Gällivare. Prior to that his career included a period in the Swedish

David Högnelid appointed Vice President Minerals at LKAB

International mining and minerals group, LKAB, are pleased to announce the appointment of David Högnelid as Vice President Minerals, effective immediately.“David joined LKAB in 2012 and has held several senior leadership roles, most recently as Chief Strategy & Business Development Officer for Business Area Special Products. David has been an invaluable member of the senior management team, with his in-depth knowledge of the minerals markets and complex value chains. I’m confident David will deliver our ambition to grow the business and become market leaders in responsible mineral

LKAB’s Annual General Meeting 2024

LKAB's Annual General Meeting was held 25 April 2024 at Vetenskapens Hus in Luleå. The AGM decided that a dividend of 7.6 billion kronor would be paid to the owner. Anders Borg was elected Chairman of the Board, succeeding Göran Persson, who steps down after seven years as chairman. Carina Andersson and Alrik Danielson were elected new board members.The AGM decided that a dividend of 7.6 billion kronor, corresponding to 10, 857 kronor per share, would be paid to the owner for the 2023 financial year. The AGM granted the board members and President discharge from liability for the 2023

Interim Report January–March 2024: Profits significantly down due to derailments on the Iron Ore Line

Operating profit for the first quarter 2024 was down by SEK 3.8 billion and amounted to SEK 1.4 billion. This was a result of the stoppage on the Iron Ore Line, which prevented deliveries from being made. Consequently, operating cash flow was negative during the quarter at SEK -1.5 billion.The derailments on the Iron Ore Line had very major effects on results for the first quarter. Net sales more than halved compared with the same period last year, amounting to MSEK 5,471 (11,955), while operating profit fell to MSEK 1,370 (5,186). The deterioration in earnings meant that cash flow was

LKAB’s interim report for first quarter 2024 to be published on 25 April

LKAB’s interim report for the first quarter 2024 will be published on LKAB’s website at around 13.00 CEST on 25 April. The company’s Annual General Meeting will be held on the same day, along with a panel discussion.The report will be sent out as a press release and published at financial information at lkab.com . LKAB’s President and CEO Jan Moström will be available for comments by phone. Calls may be booked through Niklas Johansson, Senior Vice President Communication and Climate, on +46 10 144 52 19 or Frida Dagertun, Investor Relations, on

Crisis on the Malmbanan railroad – LKAB is forced to cut production

Although traffic has resumed following this winter's major derailments on Malmbanan – the Ore Railway – stocks of iron ore products have not diminished. Soon, the track-work period begins, which means even lower capacity on the line."We are forced to cut production. Initially, we will reduce production by about one million tonnes per year. But the situation is so serious that, if we cannot run more ore trains, we will have to shut down more operations and lay off personnel," says Jan Moström, LKAB's President and CEO.The derailments, which occurred in December and February, stopped

Comments concerning SSAB's decision to invest in Luleå

SSAB today announced its decision to proceed with plans to build a new electric arc furnace and minimill in Luleå.“The decision by our partner in Hybrit and largest customer, SSAB, to invest in Luleå bodes well for our planned transition to production of fossil-free sponge iron in Gällivare. This increases the level of assurance with respect to LKAB's future investment decision for the Hybrit demonstration plant, which is the first step in the successive transition we are planning,” says Jan Moström, LKAB's President and CEO. LKAB's and SSAB's operations have long been integrated and the

LKAB reports the largest ever increase of company Mineral Resources

After exploration in 2023 LKAB has added significantly to the Mineral Resources of the company whilst maintaining the Mineral Reserves, reaching a combined total of 5,7 billion tonnes.”These great results build upon the teams' dedication and successes of recent years” says Ian Cope, Vice President Exploration at LKAB.Compared to 2022, the Mineral Resources have increased by 43 percent. The Per Geijer deposit in Kiruna is now approaching 1 billion tonnes of total Mineral Resources, including 1,7 million tonnes of in situ REE oxides, making it the largest REE deposit reported in Europe.At

LKAB publishes Annual and Sustainability Report for 2023

LKAB’s Annual and Sustainability Report for 2023 is now available at lkab.com.The Annual and Sustainability Report presents the development during 2023 and highlights how LKAB contributes to vibrant communities and growth globally. The report also illuminates the challenges facing LKAB, such as permitting processes and the capacity on the Ore Railway, but also great opportunities. Our operations form the basis of many long value chains. “We present a strong result for the year but see continued challenges ahead. The year ended with relatively high production at the same time as the

Year-end Report 2023: Profits strong but continued challenges ahead

LKAB ends 2023 with another strong quarter and is presenting operating profit for the full year of SEK 16 billion, representing an operating margin of nearly 40 percent. Higher production was offset, however, by lower deliveries due to challenges involving capacity on the Ore Railway.Net sales for the full year amounted to MSEK 42,923 (46,543). Lower pellet premiums and lower delivery volumes were partially offset by a weaker Swedish krona. Operating profit for the full year was also negatively impacted by higher costs as a result of lengthy scheduled maintenance shutdowns, measures to

LKAB’s will publish its year-end and interim report for the fourth quarter 2023 on February 12

LKAB’s year-end and interim report for the fourth quarter 2023 will be published on LKAB’s website at around 15.00 CET on February 12.The report will be sent out as a press release and published at https://lkab.com/en/financial-information/. LKAB’s President and CEO Jan Moström will be available for comments by phone. Calls may be booked through Niklas Johansson, Senior Vice President Communication and Climate, on +46 10 144 52 19 or Frida Dagertun, Investor Relations, on +46 920 380 70.

Updated Fleet

12 new loaders are coming to the Kiruna mine. An agreement has been signed between LKAB and Sandvik, and the ink has barely dried. The first delivery is expected in early 2024. "This is an important investment for better flexibility and safe and efficient production," says Joel Kangas, mine manager at LKAB in Kiruna.The agreement includes 12 loaders, all of which are to be equipped for autonomous operation via remote control. Seven of the vehicles are electric and five are diesel powered."This investment will ensure greater stability in production, round the clock. This means, for

Darren Wilson appointed new Senior Vice President, LKAB Business Area Special Products

Business Area Special Products has a key role to play in LKAB’s ongoing transformation, to increase efficiencies and ensure availability of products and services internally and to grow the external sales in the industrial minerals market with critical minerals production and new business.“Darren Wilson is currently CEO of LKAB’s Industrial Minerals Division and will now take on a broader role for the Business Area Special Products, effective January 1st 2024. He will drive both development of our internal service and product companies as well as the external industrial minerals sales,

LKAB acquires 49 percent of the shares in Duroc Rail AB - another strategic investment in railway and logistics

LKAB acquires 49 percent of the shares in Duroc Rail AB from the Nasdaq-listed Duroc AB group, which retains majority ownership of 51 percent. The preliminary purchase price is approximately SEK 75 million. At the same time, LKAB will invest up to SEK 200 million to build a new industrial property for Duroc Rail at Hertsöfältet in Luleå. Duroc Rail is a certified operator with unique expertise in wheel maintenance for locomotives and wagons with experience of the climate in northern Sweden.The Ore Railway runs between the port of Luleå and the port of Narvik, passing by the iron ore fields

HYBRIT: LKAB will be responsible for the construction of the demonstration plant in Gällivare

LKAB and Hybrit Development AB have submitted a supplementary application to the Swedish Energy Agency for support for the next step in the development of the HYBRIT initiative. The supplement clarifies that LKAB is responsible for the construction of the planned demonstration plant and will be the main recipient of any state aid. At the same time, the requested amount of support is reduced from the previous SEK 4.9 billion to SEK 3.7 billion.The HYBRIT initiative for fossil-free iron and steel production run by SSAB, LKAB and Vattenfall is entering a new phase with a focus on the

Interim Report July–September 2023: High production limited by transport capacity

LKAB’s operating profit for the third quarter amounted to nearly SEK 5 billion. Higher production was however offset by limited capacity on the Ore Railway.Net sales for the third quarter amounted to MSEK 10,819 (12,244) and operating profit totalled MSEK 4,987 (5,909). Both net sales and operating profit were impacted mainly by lower prices for highly upgraded iron ore products and lower delivery volumes. Production for the quarter was the highest since the start of 2021 and amounted to 7.0 (6.6) Mt. Delivery volumes for the quarter amounted to 6.3 (6.6) Mt and were impacted by rail

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