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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 2016 (to sorting plant)

  Quantity, mt Percent Fe
  2016 2015 2016 2015
Kiruna
Proven
620 491 46,2 47.1
Probable 94 153 42,6 44.5
Malmberget
Proven
335 346 42,6 42.5
Probable 34 32 42,2 41.4
Gruvberget
Proven
1 3 55,2 50.3
Probable 0 0 53,9 0
Leveäniemi
Proven
93 89 47,0 48.5
Probable 21 24 36,0 43.0

Mineral resources besides mineral reserves as of 31 December 2016 (to sorting plant)

  Quantity, mt Percent Fe
  2016 2015 2016 2015
Kiruna
Known
2 12 41,4 48.3
Indicated 159 217 45,4 45.8
Inferred 37 83 40,3 44.2
Malmberget
Known
6 0 42,8 0.0
Indicated 112 109 42,2 43.2
Inferred 180 149 43,1 42.7

Gruvberget magnetite
Known

25 12 44,2 55.0
Indicated 27 10 43,3 53.3
Inferred 29 12 41,5 50.9
Leveäniemi
Known
114 91 45,4 46.3
Indicated 75 87 41,8 40.8
Inferred 51 34 37,1 38.7
Mertainen
Known
66 38 35,1 36.8
Indicated 111 101 37,5 37.4
Inferred 103 75 33,2 32.0
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.