Today, the iron and steel industry accounts for seven percent of global carbon dioxide emissions. We’re aware that we have a great responsibility. Through our transformation, we go from being a big part of the problem to an important part of the solution.
Our mining and processing’s already among the most climate-efficient in the world. Despite this, LKAB’s operations cause direct emissions of 700,000 tonnes of carbon dioxide annually. This means we’re the fourth largest emitter in Sweden. We have to be better!
The biggest emissions come later in the value chain – as our iron ore pellets are turned into finished steel. We can process our products one step further and go from today’s fines, finely crushed iron ore, and pellets, to carbon-free sponge iron, made using hydrogen.
In doing so, we can help reduce global CO2 emissions by 40-50 million tonnes each year. This corresponds to Sweden’s entire emissions of greenhouse gasses every year.
LKAB will lead the development of our industry and deliver carbon-free iron for the steel that is necessary to build the sustainable world of the future.