9,612.84 TRY BIST 100 BIST 100
5.24 CNY CNY CNY
40.78 EUR EUR EUR
37.83 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
45.53 TRY Interest Interest
73.74 USD Fossil Oil Fossil Oil
34.28 USD Silver Silver
5.09 USD Copper Copper
103.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,761.14 TRY Gold (gr) Gold (gr)

LKAB's future initiatives recognized as Strategic Projects by the EU

The European Commission has designated Swedish mining company LKAB's critical minerals industrial park in Luleå, its mine in Gällivare, and the new Per Geijer deposit in Kiruna as "Strategic Projects." This decision is part of Europe's efforts to secure access to critical raw materials and reduce dependence on imports. The strategic status provides advantages such as accelerated permitting processes and financial support for these projects.

LKAB's future initiatives recognized as Strategic Projects by the EU

LKAB to meet Europe’s phosphorus and rare earth needs

LKAB's existing iron ore mine in Gällivare will enable the production of rare earth elements and phosphorus through new processes, enhancing resource efficiency and reducing Europe's dependence on imports. The Per Geijer deposit in Kiruna, with its high phosphorus content, has the potential to become one of Europe’s largest sources of rare earth elements and iron ore. The critical minerals industrial park in Luleå is being developed as a center for processing rare earth elements and phosphorus. This facility will support the EU’s transition to fossil-free energy and provide the raw materials needed for electrification. By processing phosphate-based by-products from iron ore mining, the park will secure the supply of phosphorus and rare earth elements within Europe.

Jan Moström, President and CEO of LKAB, stated, “LKAB’s ambition is to gradually build a stable, competitive, and sustainable industrial value chain within the EU. This decision underscores that our plans align with Europe’s needs both for electrification and for increased self-sufficiency in strategic and critical minerals. Access to these materials is crucial for future electric vehicles, wind turbines, and food supply.”

The company aims to begin production of rare earth elements and phosphorus at its Luleå facility by 2026, with the goal of meeting 6% of Europe's phosphorus demand and seven times Sweden’s phosphorus needs.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Discussions on scrap trade in Europe are deepening

Tuesday, March 25, 2025

ACEA expressed deep concern over new US tariffs

Friday, March 28, 2025

German companies are accelerating layoffs

Friday, March 28, 2025

Uzbekistan and Russia to discuss industrial cooperation development at Innoprom-2025

Friday, March 28, 2025

ArcelorMittal to acquire steel pipe producer Tuper

Saturday, March 29, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now