Swedish iron ore producer LKAB has announced that it is accelerating its plans towards its transition to carbon-free sponge iron. LKAB targets to annually produce 24.4 million mt of sponge iron, with zero carbon emissions by around 2050.
In March this year, the company realized an exploration program and increased its mineral reserves and mineral resources. The success in the exploration program resulted in an increase in the future planned sponge iron production levels.
Last year, the fossil-free HYBRIT initiative of LKAB and Swedish specialty steel producer SSAB produced the world’s first hydrogen-reduced sponge iron on a pilot scale, as SteelOrbis previously reported.
