Image from the YouTube video: LKAB Ore Harbour in Narvik, Norway.
“This is the biggest transformation in the company's 130-year history and could end up being the largest industrial investment ever made in Sweden,” Jan Mostrom, president and CEO of LKAB, said in a statement. “In switching from iron ore pellets to carbon-free sponge iron we are taking an important step forward in the value chain, increasing the value of our products and at the same time giving our customers direct access to carbon-free iron,” Mostrom said.
According to LKAB, their Swedish operations currently produce 700,000 tonnes of carbon emissions a year, or about four percent of Sweden's industrial emissions, making it Sweden's fourth largest emitter. During the transition, LKAB would continue to sell “iron ore pellets in parallel with developing carbon-free sponge iron,” the company said.
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