In 2025, our sales totalled SEK 33 billion, we delivered around 26 million tonnes of iron ore products, and produced 86 percent of all iron ore in the EU.
Lower iron ore prices and a weakened US dollar had a negative impact on our results in 2025, as well as higher costs associated with the urban transformation in Kiruna.
Net sales 2025
Operating profit 2025
Operating cash flow 2025
MSEK
MSEK
Iron ore products produced in 2025, an increase compared to 22,7 Mt previous year
Iron ore products delivered in 2025, an increase compared to 21,9 Mt previous year
During the year, we have taken important steps forward in developing our operations, both for the present and for the future.
The Land and Environmental Court announced our environmental permit application for establishing an industrial park in Luleå for the extraction of critical minerals such as phosphorus and rare earth elements.
The European Commission gave three of LKAB’s projects the status of Strategic Project under the Critical Raw Materials Act. These are the industrial park for critical minerals in Luleå, the Malmberget mine in Gällivare, and the Per Geijer iron ore deposit in Kiruna, which contains significant amounts of rare earth elements.
Kiruna Church was moved to its new home next to the new city centre. This turned into a unique world event, with the relocation was followed with great interest both nationally and internationally.
An updated deformation forecast for Kiruna was announced, with both current mining and the extent of the orebody resulting in a larger impact area.
Investment decision to build a new sorting plant adjacent to the mine in Gällivare. With a new sorting plant we can secure today’s production and increase capacity for our planned expansion.
The main hearing for an environmental permit in Gällivare began during the year and will continue in the spring of 2026. The application aims to secure current mining operations as well as the beginning of our long-term transformation plans, including the extraction of critical minerals.
A new ship loader was installed in Narvik. This is a strategic investment in our logistics system, with each improvement and efficiency measure strengthening our position in the global market.
At the end of the year we submitted the application to purchase state-owned land in Kiruna for the extended urban transformation. The areas concerned were identified in consultation with Kiruna Municipality.
This is a summary from Jan Moström’s statement as the CEO. The full statement can be found in the summary report at the bottom of the page.
Permitting processes are currently one of Europe’s most critical bottlenecks. The regulations are complex and the review times are long, creating significant uncertainty for major investments with long planning horizons. It is a difficult landscape to navigate, while Europe at the same time has clear ambitions for the climate, industrial competitiveness and security of supply. It is hoped that the work underway in the EU regarding simplification and streamlining of permitting processes, primarily aimed at strategic projects within the CRMA framework, will have an impact.
To secure our future production, we need permits to develop our operations. During the year the environmental permit proceedings for the operations in Gällivare moved into the main hearing. It is essential that an environmental permit is granted if we are to continue developing our operations. In Kiruna we need permits to continue mining below the current main haulage level and to develop the Per Geijer iron ore deposit, where we also have the potential to extract critical minerals.
