The low iron ore prices will lead to further losses for the state-owned mining company LKAB. The loss before tax in the second quarter was 548 million kronor. In the same period last year was loss of 319 million kronor.
The result was affected both last year and this year in provisions for the planned relocation of the mine in Kiruna. But above all it is the low prices of iron ore, in a market suffering from overcapacity, which weighed on earnings. And the picture is expected to persist for a long time, track management.
Sales decreased from 4.957 billion to 3.567 billion crowns.
Since earlier the Company has a savings program that rolls. So far, 380 million of the announced SEK 700 million in savings this year completed, writes the lead in the interim report.
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