LKAB has sold essential parts of the machine park (forklifts, wheel loaders and road graders) linked to the breakthrough in Mertainen, to the Australian Macquarie Bank.
- Through the sale, we reduce the maintenance costs for Mertainen. Let the machines last for five, maybe ten years, would had been pure capital destruction. Now we can, if and when the conditions are right, start the mine in a hopeful, more sustainable way, including a higher degree of electrification and fossil-free operation, says Jan Moström, President and CEO of LKAB.
The assessment mean still that Mertainen will not be taken into production during the next five-year period, which is based, inter alia, on current metallurgical, market and logistical conditions. Mertainen breach is not included in a decided business plan, and the company's strategic plan also does not include Mertainen's raw material.
LKAB is an international high-tech mineral group that breaks and improves Norrbotten's unique iron ore for the global steel market. Sustainability is at the heart of our business concept and our ambition is to be one of the most innovative, resource-efficient and responsible companies in the industry. The Group, which has sales of more than SEK 16 billion in 2016 and has approximately 4,200 employees in 13 countries, also includes industry minerals, drilling systems, rail transport, mountain services and real estate companies.
Source: LKAB
