LKAB under pressure

State-owned LKAB’s new chief executive Jan Moström announced on Friday that the mining company will be separated into three new divisions: mining with processing plants in Kiruna, mining with processing in Malmberget and Svappavaara, and LKAB Minerals with production and sales and drilling technology LKAB Wassara, in order to adapt to new challenges. In addition, there will be a major reshuffle within the senior management, said Moström.
At the same time on Friday, iron ore prices fell to under 40 US dollars per ton, and noted their lowest level since 2008.