LKAB increases shareholding in SSAB

December 23, 2019

Today, LKAB made a notification of increased shareholding in SSAB, which now corresponds to 5,1 percent of the shares and votes.

LKAB and SSAB have an extensive business relationship and joint collaborative projects such as HYBRIT. HYBRIT is an initiative between LKAB, SSAB and Vattenfall with the purpose to create an entirely fossil-free process for steelmaking – from mining to finished steel. A pilot plant will open in Luleå during the third quarter of 2020. LKAB is hence well acquainted with SSAB and has been a shareholder since SSAB’s shares were listed on the stock market in 1989.

“We have increased our shareholding in SSAB. The investment is both of a financial and relational nature and falls within the framework of our finance policy,” says Peter Hansson, CFO at LKAB.

Increase in share ownership

LKAB’s shareholding corresponds to 5.1 percent of the shares and votes in SSAB, which is an increase of approximately 2.9 percentage points of the capital and approximately 1.5 percentage points of the votes.

LKAB is an international high-tech mining and minerals group that mines and upgrades the unique iron ore of northern Sweden for the global steel market. Sustainability is core to our business and our ambition is to be one of the industry’s most innovative, resource-efficientand responsible companies. The group had sales of about SEK 26 billion in 2018 and employs about 4,200 people in 12 countries. Other group business include industrial minerals, drilling systems, rail transport, rockwork services and property management.