A capital-intensive engine for strong Swedish technology development
In 2019, the mining industry invested SEK 6.3 billion in Sweden. This is about 9% of the industry branch’s total investments of 72 billion in 2019. In 2018 the figure was 5.6 and in 2017 SEK 5 billion was invested. The mining industry is very capital-intensive and between 2010 and 2019, just over SEK 75 billion was invested in total.
Most of the industry’s investments go to fossil-free production.
In the autumn of 2020, LKAB presented an initiative that entails a new strategy and a new world standard for mining and carbon dioxide-free ore processing. The investment could be the largest industrial investment in Swedish history – about 400 billion over 20 years. In addition, there are massive investments in the expansion of renewable electricity and hydrogen to enable the conversion. Thousands of new jobs will be created during the rebuilding and new construction of facilities for more than 20 years and as part of the expanded operations, and securing future jobs.
A unique synergy between mining companies, technology suppliers, academia and institutes means that Swedish mines are an important engine for Swedish technology development and employment.
Source: Svemin, SGU, SCB, LKAB