Press releases

The financial statement for 2024 reflects decreased demand and global uncertainty.

"We hope that the government and the Swedish Transport Administration recognize the sheer unreasonableness of forcing us to pay for a state investment in a railway project that we do not even use", Klas Dagertun, CEO, Kaunis Iron.

As previously announced, due to the challenging market conditions, Kaunis Iron AB has now completed the initial union negotiations and is proceeding with a thorough reorganization to streamline operations. Although these actions are difficult, they are necessary for the company to strengthen its business and secure a long-term future for mining in Tornedalen.

Kaunis Iron is facing a challenging market environment, with falling iron ore prices, global uncertainty, and weak economic development in China, the dominant market for iron ore. To ensure long-term competitiveness, Kaunis Iron is now implementing further cost-saving measures and staff reductions. Negotiations with trade unions will begin shortly.

Kaunis Iron’s fifth year of business was yet another profitable year, with new record deliveries.The net profit for the year was SEK 690 million.“We can now start realising the vision of a mining industry that generates jobs and growth opportunities in the region for future generations”, says a satisfied Klas Dagertun, CEO of Kaunis Iron.

2022 was a profitable year for Kaunis Iron with new record levels in production, despite an uneasy global market.“We have succeeded with our ambitions and goals”, says Klas Dagertun, CEO of Kaunis Iron.

Despite a turbulent world market and a long drawn-out pandemic, Kaunis Iron can label 2021 as another fantastic record-breaking year. “Despite large and sudden swings in market prices which are totally beyond our control, through luck and skill we have managed to successfully stay on course despite the challenges we have faced and we can state with confidence that 2021 is our best year yet,” says