LKAB is investing 800 million in a research and development center and a facility for refining phosphorus and rare earth metals in Luleå.
"A significant milestone," says CEO Jan Moström according to a press release.
The demonstration facility is expected to be operational by the end of 2026 and will develop the process of utilizing material flows from LKAB's iron ore production in Gällivare, resources that have so far been discarded as mining waste, according to LKAB.
At the same time, LKAB is reporting an operating profit of 2.1 billion kronor for the third quarter, down from 5.0 billion during the corresponding quarter last year.
Net sales fell from 10.8 billion to 8.4 billion.
LKAB's third quarter was marked by extensive production disruptions and several longer production shutdowns. Net sales and operating profit for the quarter were also affected by lower iron ore prices and deliveries," the company writes in a press release.
Production disruptions and longer production shutdowns reduced volumes to 4.9 million tons, down from 7.0 million tons.
"The measures will continue in the coming months and will therefore limit production also during the fourth quarter," LKAB writes.
