LKAB finds 100 million mt of iron ore reserves at two new mines

Swedish-based iron ore producer LKAB has announced that it has discovered 100 million mt of iron ore reserves at two new LKAB mines in Svappavaara, Sweden.
 
According to LKAB, 100 million mt of iron ore reserves translate into 70 million mt of iron ore pellet production, which is almost three times higher than the company's annual iron ore pellet production. The company said that the iron ore reserves are sufficient for more than 20 years of production.