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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 2017 (to sorting plant)

  Quantity, mt Percent Fe
  2017 2016 2017 2016
Kiruna
Proven
605 620 46,2 46,2
Probable 63 94 42,4 42,6
Malmberget
Proven
360 335 43,1 42,6
Probable 23 34 41,6 42,2
Gruvberget
Proven
0 1 59,4 55,2
Probable 0 0 53,2 53,9
Leveäniemi
Proven
91 93 47,3 47,0
Probable 7 21 39,4 36,0

Mineral resources besides mineral reserves as of 31 December 2017 (to sorting plant)

  Quantity, mt Percent Fe
  2017 2016 2017 2016
Kiruna
Known
2 2 38,3 41,4
Indicated 151 159 44,5 45,4
Inferred 207 37 43,5 40,3
Malmberget
Known
6 6 45,1 42,8
Indicated 103 112 43,5 42,2
Inferred 194 180 44,1 43,1

Gruvberget magnetite
Known

15 25 45,1 44,2
Indicated 25 27 43,2 43,3
Inferred 34 29 41,6 41,5
Leveäniemi
Known
108 114 46,0 45,4
Indicated 55 75 41,6 41,8
Inferred 46 51 34,4 37,1
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.