Swedish iron ore producer LKAB has announced a significant increase in its mineral resources following exploration activities in 2025, strengthening its long-term resource base for iron ore and critical minerals.
Total mineral resources and reserves reached a total of 7.2 billion tonnes, the company said, reflecting improved resource levels and confidence levels. LKAB said mineral resources alone increased by approximately 900 million tonnes compared to 2024, with approximately 770 million tonnes of the increase recorded at the Malmberget mine.
At the end of 2025, the company reported 6.3 billion tonnes of mineral resources and approximately 900 million tonnes of mineral reserves across all of its operations.
Exploration increases resource base in key areas
Exploration drilling has led to an increase in mineral reserves at LKAB's main deposits, while mineral reserves have declined slightly due to ongoing mining.
- Kiruna mine: resources up three percent to about 1.1 billion tonnes, reserves down seven percent, to 544 million tons.
- Malmberget mine: resources increased by 40 percent, to approximately 1.1 billion tons. 2.7 billion tonnes, reflecting continued exploration success, while reserves fell by five percent to 322 million tonnes.
- Grovberget Mine: Resources reached around 900 million tonnes, an increase of one percent.
- Geyer Mine: Resources increased to around 1.3 billion tonnes.
- Leveaniemi mine: reserves decreased by seven percent to 79 million tons
