Iron Ore Mining in Sweden to 2020

The country’s iron ore reserves measured 3.5 billion tonnes (Bnt) as of January 2015, representing 1.9% of global reserves, with reserves found in the provinces of Norrbotten, Uppland, and Dalarna. In 2014, Sweden was the third-largest iron ore producer in Europe after Russia and Ukraine and the 11th largest in the world with a production capacity of 27.6 million tonnes (Mt).

Scope

GlobalData's 'Iron Ore Mining in Sweden to 2020' report contains an overview of the Swedish iron ore mining industry together with information on reserves, historical and forecast production to 2020 with supporting factors, historical and forecast iron ore consumption and ores and concentrates exports to 2020 and demand drivers. In addition, it provides information about iron ore prices, the competitive landscape, active, exploration and development projects and the fiscal regime governing the Swedish mining industry.

Key Highlights

• Luossavaara-Kiirunavaara Aktiebolag (LKAB) has a virtual monopoly over the Swedish iron ore mining industry with around 95% of total production.

• LKAB’s Kiruna mine in Norrbotten is the largest underground iron ore mine in the world, while other operating mines include the Malmberget and Svappavaara area mines, also in Norrbotten.

• Sweden exported around 86% of the iron ore it produced in 2014 with Germany the most important market, accounting for 25.7% of Sweden’s total iron ore exports.

Reasons to buy

To gain an understanding of the Swedish iron ore mining industry, reserves, historic and forecast production, iron ore consumption and ores and concentrates exports, prices, demand drivers, active, exploration and development projects, the major iron ore producing companies and the country's fiscal regime.

Companies mentioned

Luossavaara–Kiirunavaara AB, Dannemora Mineral AB

Table of Contents

1 Executive Summary 1

2 Iron Ore Mining in Sweden – Reserves, Production, Consumption and Trade 6

2.1 Reserves by Geographical Region and Grade 6

2.2 Historic and Forecast Production 8

2.2.1 LKAB is the major iron ore producing company 10

2.3 Active Mines 11

2.4 Exploration and Development Projects 11

2.5 Iron ore consumption and exports 13

2.5.1 Exports by country 15

2.5.2 Swedish iron ore ports 16

2.6 Demand Drivers 17

2.6.1 Demand from the European crude steel industry 17

2.6.2 Demand from the construction industry in Europe 18

3 Major Iron Ore Producers 21

3.1 Major Iron Ore Producers in Sweden 21

3.1.1 Luossavaara–Kiirunavaara AB (LKAB) 21

3.1.2 Dannemora Mineral AB 22

4 Fiscal Regime 23

4.1 Geological Survey of Sweden (Sveriges Geologiska Undersokning) 23

4.1.1 Mining Inspectorate of Sweden (Bergsstaten) 23

4.2 The Swedish Mining Industry – Governing Law 23

4.2.1 Minerals Act (1991:45) 23

4.2.2 Exploitation permits 24

4.3 The Swedish Mining Industry – Rights and Obligations 24

4.3.1 Rights 24

4.3.2 Obligations 24

4.4 The Swedish Mining Industry – Key Fiscal Terms 25

4.4.1 Fees 25

4.4.2 Corporate income tax 25

4.4.3 Capital gains tax 25

4.4.4 Withholding tax 25

4.4.5 Real estate tax 25

4.4.6 Depreciation 25

4.4.7 Loss carry forward 25

4.4.8 Value added tax 25

5 Appendix 26

5.1 Abbreviations 26

5.2 Secondary Research 26

5.3 Primary Research 26

5.4 Contact GlobalData 26

5.5 About GlobalData 27

5.6 GlobalData’s Services 27

5.7 Disclaimer 28

List of Tables

Table 1: Iron Ore Mining in Sweden – Iron Ore Production (Million Tonnes), 2000–2020 9

Table 2: Iron Ore Mining in Sweden – Active Mines, 2015 11

Table 3: Iron Ore Mining in Sweden – Exploration Projects, 2015 11

Table 4: Iron Ore Mining in Sweden – Development Projects, 2015 12

Table 5: Iron Ore Mining in Sweden – Iron Ore Consumption and Exports (Million Tonnes), 2000–2020 14

Table 6: Iron Ore Mining in Sweden – Export by Country (Million Tonnes), 2014 15

Table 7: Iron Ore Mining in Sweden – Luossavaara-Kiirunavaara AB, Projects, 2015 21

Table 8: Iron Ore Mining in Sweden – Dannemora Mineral AB, Major Projects, 2015 22

Table 9: The Mining Industry in Sweden – Fees Payable (SEK), 2014 25

List of Figures

Figure 1: Iron Ore Mining in Sweden – Iron Ore Reserves by Country (%), 2014 6

Figure 2: Iron Ore Mining in Sweden – Mines in Sweden 7

Figure 3: Iron Ore Mining in Sweden – Iron Ore Production vs. Iron Ore Prices, 2000–2020 9

Figure 4: Iron Ore Mining in Sweden – LKAB Iron Ore Production (%), 2014 10

Figure 5: Iron Ore Mining in Sweden – Iron Ore Consumption and Exports (Million Tonnes), 2000–2020 14

Figure 6: Iron Ore Mining in Sweden – Export by Country (%), 2014 15

Figure 7: Iron Ore Mining in Sweden – Swedish Iron Ore Ports 16

Figure 8: Iron Ore Mining in Sweden – Production of Steel in the European Union (Million tonnes), 2001 – 2020 17

Figure 9: Iron Ore Mining in Sweden – Construction Output Value of Major EU Nations (US$ Billion*), 2010, 2015 and 2020 19

Figure 10: Iron Ore Mining in Sweden – German Construction Output by Project Type (US$ Billion), 2009–2018 20

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