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.
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.
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.
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.
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.