LKAB

Luossavaara-Kiirunavaara Aktiebolag
Government-owned
Industry Mining
Founded 1890 (1890)
Headquarters Luleå, Sweden
Area served
 Worldwide
Key people
 Sten Jakobsson
Chairman of the Board
Jan Moström
President CEO
Products Iron ore
Fines
Pellets
Minerals
Revenue Increase 16.200 billion SEK - 2015
Decrease 7.136 billion SEK - 2015
Decrease 5.686 billion SEK - 2015
Total assets Decrease 56.028 billion SEK - 2015
Total equity Decrease 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[1]

Luossavaara-Kiirunavaara Aktiebolag (LKAB) 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 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.[2]

LKAB has around 4,000 employees, of which more than 600 are outside of Sweden.[3] There are iron ore mines, processing plants and ore harbors in northern Sweden and Norway, and 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 USA 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.[4]

Timeline

  • 1890 LKAB is founded.[5]
  • 1891 AB Gellivarare 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 Grängesberg-Oxelösund (TGO) retains 4%.
  • 1976 LKAB becomes a government-owned corporation.

Sponsorships

LKAB sponsors Swedish cross-country skiers Marcus Hellner and Charlotte Kalla.[6][7]

See also

References

  1. ↑ "2015 Year End Report" (PDF). LKAB.com.
  2. ↑ "LKAB's year-end report will be released tomorrow". LKAB. Archived from the original on 12 July 2012. Retrieved 8 July 2012.
  3. ↑ http://lkab.se/?openform&id=36CE
  4. ↑ Overland, Indra (2016). "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic". ResearchGate. Arran. Retrieved 2 August 2018.
  5. ↑ "Archived copy". Archived from the original on 2012-02-12. Retrieved 2014-10-03.
  6. ↑ "Kalla + Hellner + LKAB = SANT" (in Swedish). Sveriges Radio. 12 September 2012. Retrieved 3 February 2018.
  7. ↑ "Sponsorship". LKAB. Retrieved 3 February 2018.
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