LKAB condemns all forms of corruption and fraud, and demand openness, integrity and honesty throughout our value chain in every country.
We work preventively to counteract corruption in business by means of transparent systems and clear following up. LKAB adheres to the Swedish Code of Corporate Governance, and we are audited annually by an external auditor. All documents, registers and reports must be transparent, correct and reliable.
LKAB's risks as regards corruption and improper behaviour are assessed in the Group's general risk work. Our values and Code of Conduct apply to all employees and describe how we at LKAB should behave – towards each other, our business partners and the surrounding community. Bribes, hidden commission or other unlawful or unethical benefits are not permitted. We do not engage in operations that we cannot openly stand up for. Employees at LKAB neither accept nor make inappropriate payments in the form of gifts, services, travel or entertainments which could lead to their position being questioned.
Our employees receive continual training regarding our Code of Conduct through a mandatory, interactive course. Discussion material is also available, which is used at workplace meetings etc.
International role model
LKAB aims to be an international role model in the mining sector when it comes to ethics, and will conduct activities that facilitate sustainable social development which generates prosperity. In order to achieve this, LKAB's suppliers also have to be at the forefront and they all have to approve our basic requirements for an assignment with us.
LKAB also conducts sustainability audits at suppliers in countries and sectors prone to high corruption and sustainability risks, as well as at suppliers we will be collaborating with for an extended period. These audits are based on the requirements we set out in our Supplier Code of Conduct, where corruption is one element.