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.
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.
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,
Together we can rebuild Sweden as the world’s first fossil-free welfare nation
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
Ultimately, this will make LKAB's iron ore pellets completely carbon-dioxide-free.
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.
Now our goal is to have a full-scale plant for production of ammonium phosphate and rare earth metals within five years.
Jan Moström, LKAB’s President and CEO
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.
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.