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Mineral reserves and mineral resources

Mineral reserves and mineral resources are the basis for a mining company's operations and impose demands for successful exploration. In addition to exploration, the cost of mining and the price of ore are important factors that affect the size of the mineral resource and the mineral reserve. LKAB's exploration takes place both in association with existing mines and in new areas.

Mineral reserves as of 31 December 2018 (to sorting plant)

  Quantity, mt Percent Fe
  2018 2017 2018 2017
Kiruna
Proven
624 605 44,1 46,2
Probable 62 63 40,5 42,4
Malmberget
Proven
346 360 42,6 43,1
Probable 23 23 41,8 41,6
Gruvberget
Proven
0 0 - 59,4
Probable 0 0 - 53,2
Leveäniemi
Proven
87 91 48,1 47,3
Probable 9 7 37,5 39,4

Mineral resources besides mineral reserves as of 31 December 2018 (to sorting plant)

  Quantity, mt Percent Fe
  2018 2017 2018 2017
Kiruna
Known
  2   38,3
Indicated 35 151 36,6 44,5
Inferred 355 207 42,2 43,5
Malmberget
Known
6 6 45,1 45,1
Indicated 176 103 43,2 43,5
Inferred 225 194 44,0 44,1

Gruvberget magnetite
Known

33 15 42,9 45,1
Indicated 38 25 45,0 43,2
Inferred 78 34 41,8 41,6
Leveäniemi
Known
67 108 46,6 46,0
Indicated 71 55 42,5 41,6
Inferred 34 46 41,7 34,4
Mertainen
Known
66 66 35,1 35,1
Indicated 111 111 37,5 37,5
Inferred 103 103 33,2 33,2
Gruvberget haematite
Known
9 9 55,0 55,0
Indicated 5 5 52,6 52,6
Inferred 28 28 53,9 53,9

LKAB reports mineral reserves and resources in compliance with recommended rules adopted by SveMin (FRB Standard). These are in turn based on an international standard. Håkan Selldén is a Qualified Person accredited by SveMin. He has more than 30 years' experience of the mining and mineral industry and has compiled LKAB's report.


The summaries of mineral reserves and mineral resources show the current situation. Mineral reserves comprise granted mining permits, and mineral resources suggest possible future permits.