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 derailments on the Ore Railway occur and show the sensitivity of the line. The expansion of the Ore Railway will be decisive for both current volumes and future production increases. Here and now, we focus on how capacity can be ensured in the near term,” says Jan Moström, President and CEO of LKAB. 

The report presents continued good results for the development of Mineral Resources and Mineral Reserves. The intensive exploration work during the recent years means that the Mineral Reserves amount to 1.1 billion tonnes and Mineral Resources to 4.6 billion tonnes, corresponding to an increase of 43 percent for the Mineral Resources compared with 2022. It can also be put into perspective that two billion tonnes have been mined since LKAB's start in 1890.

“In a time of increasing geopolitical uncertainty, during the year we have achieved some important milestones in our transformation. At the same time, permits that are essential for our planned development regrettably appear to be delayed,” says Jan Moström.

Read more in LKAB’s Annual and Sustainability report at lkab.com/en/financial-information. 

For further information on LKAB’s Mineral Reserves and Mineral Resources, the reader is guided to lkab.com. Here may be found the Summary Technical Reports for each of LKAB’s mineral deposits and how the Mineral Resource estimations have been made. The Mineral Reserves and Mineral Resources reported in the Summary Technical Reports are the same as those reported in LKAB’s Annual and Sustainability Report for 2023.

The printed Swedish version of the Annual and Sustainability Report will be available in conjunction with LKAB’s Annual General Meeting on 25 April 2024 and can then be ordered via lkab.com. 

A summary in English is published at lkab.com and the full English version of the Annual and Sustainability Report will be available on 25 April 2024. The printed English version will be available in mid-May.

This information is such that Luossavaara-Kiirunavaara AB is required to publish under the EU Market Abuse Regulation and the Securities Markets Act. It was released for publication at 15.00 CET on 27 March 2024.

Contact: Niklas Johansson, Senior Vice President Communication and Climate LKAB. Tel: +46 (0)10-144 52 19. E-mail: niklas1.johansson@lkab.com

LKAB is an international mining and minerals group that offers sustainable iron ore, minerals and special products. We are committed to developing carbon-free processes and products by 2045, leading the transformation of the iron and steel industry. Since 1890 we have developed through unique innovations and technological solutions and are driven forward by more than 4,500 employees in 12 countries. In 2022, the LKAB group had sales of about SEK 47 billion. www.lkab.com