EU GREEN STEELMAKING: LKAB launches new strategy to meet carbon-neutral goals

Swedish state-owned iron-ore producer LKAB will undergo a transformation with a new company strategy to meet its goals for net-zero carbon emissions, and will invest heavily in its operations to achieve this, the company said on Monday November 23.

LKAB’s new strategy sets out the path the company will take to achieve net-zero carbon emissions from its own processes and products by 2045, and to secure the company’s operations with expanded mining beyond 2060.
The new strategy is a response to developments in the global iron and steel industry, which is undergoing a technology shift, it said.
The strategy sets out three main tracks for the transformation:

A new standard for mining will be introduced Direct-reduced iron (DRI, or sponge iron) will be produced using green hydrogen and will in time replace iron ore pellets, opening the way for a fossil-fuel-free...

Published

Carrie Bone

November 26, 2020

20:18 GMT

London