Mission

LKAB’s mission is, based on the Swedish Orefields, to manufacture and deliver to the world market upgraded iron ore products and services that create added value for its customers. Other closely related products and services that are based on LKAB’s know-how and support the main business can also be included in the company’s operations.

Vision

LKAB will be perceived by the customers as the supplier that provides the most added value and is thereby the leader in its selected market segments.

Strategies

Mining Division

Three large players, whose combined share of the market is more than 70%, dominate world trade in iron ore. In global terms, LKAB, with only 3%, is considered a small player, but commands a strong position on the home market, which is northern Europe.

   The Mining Division delivers products and services that make hot-metal production more efficient. The strategy is to be the quality-leading supplier of upgraded iron ore products and to be a priority supplier to certain customers.

   Pellets, which are the Mining Division’s most upgraded iron ore products, account for about 75 % of ore sales. The goal is to increase the pellet share.

Minerals Division

The division produces and markets selected minerals, customer-adapted for industries throughout the world. For Minerals, the objective is to gain full control, from raw-material source to customer, of several selected minerals. At present, the selected minerals are magnetite, olivine, mica and huntite.

Special Businesses Division

For Special Businesses, the overall strategy is to support the Group’s principal businesses by contributing towards efficiency improvement and technical development in a range of areas including mining engineering, concrete work, drilling systems, explosives, logistics, property management and insurance. Where appropriate, companies in this division will develop business outside of LKAB.