Swedish iron miner LKAB plans to invest SEK10-20bn ($1.1bn – $2.3bn) per year in production of carbon dioxide free sponge iron at its facilities Kiruna and Malmberget, Sweden.
Currently, the firm produces iron ore pellets and will start building new sponge iron plants which will be up and running by 2029, it said in a statement. The company also projected 2,000 to 3,000 jobs in the area over the span of 20 years and expects to offer close to hundred jobs next year as the construction for the plants start. The projected capacity for these plants was not disclosed.
The Swedish miner has also appointed Darren Wilson as chief executive officer for industrial mineral departments. Wilson was the former managing director for the company’s UK mineral business and will take up the new role from January 1st 2021, it stated.
($1 = SEK8.36)