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.
According to the company, total mineral resources and reserves reached a combined 7.2 billion mt, reflecting improved resource volumes and confidence levels. LKAB stated that mineral resources alone increased by approximately 900 million mt compared to 2024, with around 770 million mt of the increase recorded at the Malmberget mine.
At the end of 2025, the company reported around 6.3 billion mt of mineral resources, and approximately 900 million mt of mineral reserves across its operations.
Exploration boosts resource base across key sites
Exploration drilling led to mineral resource increases across LKAB’s main mining areas, while mineral reserves declined slightly due to ongoing mining.
- Kiruna mine: resources rose by three percent to around 1.1 billion mt, while reserves declined by seven percent to 544 million mt.
- Malmberget mine: resources increased by 40 percent to approximately 2.7 billion mt, reflecting ongoing exploration success, while reserves are down by five percent to 322 million mt.
- Gruvberget mine: resources reached about 900 million mt, up by one percent.
- Per Geijer deposit: resources increased to approximately 1.3 billion mt.
- Leveäniemi mine: reserves decreased by seven percent to 79 million mt.