LKAB

Luossavaara-Kiirunavaara Aktiebolag

Type	Government-owned
Industry	Mining
Founded	1890
Headquarters	Luleå, Sweden
Area served	Worldwide
Key people	Marcus Wallenberg Chairman of the Board Lars-Eric Aaro President CEO
Products	Iron ore Fines Pellets Minerals
Revenue	31.122 billion SEK - 2011
Operating income	14.705 billion SEK - 2011
Profit	10.96 billion SEK - 2011
Total assets	53.73 billion SEK - 2011
Total equity	37.893 billion SEK - 2011
Owner(s)	Sweden - 100%
Employees	4,191 - December 2011
Parent	Government Office of Sweden
Divisions	The Market Division The Minerals Division The Mining Division Special Business
Subsidiaries	LKAB Berg & Betong AB LKAB Fastigheter AB LKAB Kimit AB LKAB Malmtrafik AB LKAB Mekaniska AB Minelco AB Wassara AB
Website	LKAB.com
References: 2011 Year End Report[1]

LKAB (Luossavaara-Kiirunavaara Aktiebolag) is a 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 fines, which are transported by Iore trains (Malmbanan) to the harbours at Narvik and Luleå and to the steelmill at Luleå (SSAB).

The iron ore products are mainly sold to European steelmills. Other important markets are North Africa, the Middle East and Southeast Asia. Industrial minerals are sold mainly in Europe, but also in Asia and the USA.

LKAB has around 3,700 employees, of which more than 600 are outside of Sweden.^[2] There are iron ore mines, processing plants and ore harbors in northern Sweden and Norway, and sales offices in Belgium, Germany and Singapore. LKAB has subsidiaries for industrial minerals with processing plants in Sweden, Finland, Greenland, the UK, the Netherlands, Greece, Turkey and China. Additional subsidiaries are in Germany, the USA and Hong Kong as well as representative offices in Slovakia and Thailand.

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 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.

See also Swedish iron ore during World War II.

Iron ore is extracted in Kiruna, Svappavaara and Malmberget (outside of Gällivare), and brought by rail to the harbours of Luleå and Narvik.

References