Luossavaara-Kiirunavaara Aktiebolag (LKAB) is a state-owned Swedish mining company. The company mines iron ore at Kiruna and at Malmberget in northern Sweden. The company was established in 1890, and has been 100% state-owned since the 1950s. The iron ore is processed to pellets and sinter fines, which are transported by Iore trains (Malmbanan) to the harbours at Narvik and Luleå and to the steel mill at Luleå (SSAB). Their production is sold throughout much of the world, with the principal markets being European steel mills, as well as North Africa, the Middle East and Southeast Asia.[3] LKAB's mines supply at least 80% of Europe's iron ore.[4]
 | |
| Company type | Government-owned |
|---|---|
| Industry | Mining |
| Founded | 1890 |
| Headquarters | , |
Area served | Worldwide |
Key people | Anders Borg[1] chairman of the board Jan Moström president CEO |
| Products | Iron ore Fines Pellets Minerals |
| Revenue |  42.923 billion SEK – 2023 |
| 16.230 billion SEK – 2023 | |
| 15.220 billion SEK – 2023 | |
| Total assets |  106.948 billion SEK – 2023 |
| Total equity | 80.861 billion SEK – 2023 |
| Owner | Government of Sweden – 100% |
Number of employees | ~4,640 – 2023 |
| Parent | Government Office of Sweden |
| Divisions | Minerals Division The Mining Division Special Business Division |
| Subsidiaries | LKAB Berg & Betong LKAB Fastigheter LKAB Kimit LKAB Malmtrafik LKAB Mekaniska LKAB Minerals LKAB Wassara LKAB Försäkring LKAB Nät LKAB Schwedenerz GmbH |
| Website | LKAB.com |
| Footnotes / references 2023 Year End Communiqué[2] | |
Operations
editAs of 2021[update], LKAB has over 4,500 employees in 12 countries.[5] There are iron ore mines, processing plants and ore harbors in northern Sweden and Norway, and a sales office in Germany. LKAB has subsidiaries for industrial minerals with processing plants in Sweden, Finland, the UK, the Netherlands, Turkey and China. Additional subsidiaries are in Germany, the US and Hong Kong as well as representative offices in Slovakia, Greece, Spain and South Africa.
LKAB's chief assets are among the magnetite orefields of northern Sweden. Its corporate headquarters are in Luleå and the main production sites are in Kiruna (Kiruna Mine) and Malmberget, close to Gällivare. The ore is partially processed on site, and is transported by freight train on Malmbanan to either Narvik or Luleå depending on final destination. LKAB has been ranked as among the 14th best of 92 oil, gas, and mining companies on indigenous rights and resource extraction in the Arctic.[6] In 2021, LKAB was ranked no. 23 out of 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).[7]
Timeline
edit- 1890 LKAB is founded.[8]
- 1891 AB Gellivare Malmfält founded.
- 1893 AB Gellivare Malmfält bought LKAB.
- 1899 Ore line from the south reaches Kiruna.
- 1957 The government takes over LKAB to 96%. Traffic Grangesberg-Oxelosund (TGO) retains 4%.
- 1976 LKAB becomes a government-owned corporation.
Sponsorships
editLKAB sponsors Swedish cross-country skiers Marcus Hellner and Charlotte Kalla.[9][10]
See also
editReferences
edit- ^ "Klart: Anders Borg blir ordförande för LKAB". SVT Nyheter (in Swedish). 25 April 2024. Retrieved 17 July 2024.
- ^ "2023 Year End Report" (PDF). Retrieved 17 July 2024.
- ^ "LKAB's year-end report will be released tomorrow". LKAB. Archived from the original on 12 July 2012. Retrieved 8 July 2012.
- ^ Cockerell, Isobel (December 7, 2023). "In the Swedish Arctic, a battle for the climate rages". Retrieved January 1, 2024.
- ^ "LKAB in brief". LKAB. Archived from the original on 29 June 2021. Retrieved 10 July 2021.
- ^ Overland, Indra (2016). "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic". ResearchGate. Arran. Retrieved 2 August 2018.
- ^ Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. Business Strategy and the Environment. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698
- ^ "It starts with the iron". www.lkab.com. Retrieved 31 January 2022.
- ^ "Kalla + Hellner + LKAB = SANT". Sveriges Radio (in Swedish). 12 September 2012. Retrieved 3 February 2018.
- ^ "Sponsorship". LKAB. Retrieved 3 February 2018.