Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

LKAB has increased its stake in Swedish steelmaker SSAB from 10.5pc to 16pc to ensure a closer working relationship in the development of joint projects like the HYBRIT plant.


Both the companies are partners in the HYBRIT program, which is a green steel project that is expected to get completed by 2026. HYBRIT will have a total capacity to make 1.3mn mt of fossil-free steel per year after it is commissioned. 


Announcing the increase of its stake in SSAB on Monday, LKAB stated that as both companies transition to becoming carbon dioxide-free sponge iron suppliers, it wants to ensure that SSAB continues to have industrial ownership in the steel industry and plans to jointly develop a value chain. 

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