LKAB
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 steelmill 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. LKAB's mines supply at least 80% of Europe's iron ore.
| Company type | Government-owned |
|---|---|
| Industry | Mining |
| Founded | 1890 |
| Headquarters | , |
Area served | Worldwide |
Key people | Sten Jakobsson chairman of the board Jan Moström president CEO |
| Products | Iron ore Fines Pellets Minerals |
| Revenue | 16.200 billion SEK – 2015 |
| 7.136 billion SEK – 2015 | |
| 5.686 billion SEK – 2015 | |
| Total assets | 56.028 billion SEK – 2015 |
| Total equity | 32.116 billion SEK – 2015 |
| Owner | Government of Sweden – 100% |
Number of employees | 4,463 – December 2015 |
| 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 2015 Year End Report | |
As of 2021, LKAB has over 4,500 employees in 12 countries. 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. 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).