LKAB increases its shareholding in SSAB

LKAB has today made a notification of an increased shareholding in SSAB, which corresponds to 10,5 percent of the shares and the votes.

LKAB and SSAB have an extensive business relationship and joint collaborative projects such as HYBRIT. HYBRIT is an initiative between LKAB, SSAB and Vattenfall with the purpose to create an entirely fossil-free process for steelmaking – from mining to finished steel. A pilot plant will open in Luleå during the third quarter of 2020. LKAB is hence well acquainted with SSAB and has been a shareholder since SSAB's shares were listed on the stock market in 1989.

“We have increased our shareholding in SSAB further. The investment is of a strategical, financial and relational nature,” says Jan Moström, President and CEO of LKAB.

Increase in ownership
LKAB’s shareholding corresponds to 10,5 percent of the shares and the votes in SSAB, which is an increase of 5,4 percentage points of the capital and the votes.

Contact: Bo Krogvig, Senior Vice President of Communication and climate LKAB, Tel: 46 (0)8 429 34 45. E-mail: bo.krogvig@lkab.com

About Us

LKAB is an international high-tech mining and minerals group that mines and upgrades the unique iron ore of northern Sweden for the global steel market. Sustainability is core to our business and our ambition is to be one of the industry’s most innovative, resource-efficient and responsible companies. The group had sales of about SEK 26 billion in 2018 and employs about 4,200 people in 12 countries. Other group business include industrial minerals, drilling systems, rail transport, rockwork services and property management. www.lkab.com

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