Kaunis Iron Adapts Operations to Current Market Conditions

– "The market situation has changed drastically over the year, and despite previous actions, they are not enough to meet the new conditions. We must now make even more significant changes to remain a strong and sustainable player in the iron ore market," says Klas Dagertun, CEO of Kaunis Iron.

Adaptations and Changes
Throughout the year, Kaunis Iron has undertaken several measures to address the economic challenges, but now even more extensive changes are required. All areas of the organization will be reviewed, with the exception of our truck transport operations, where adjustments in the number of drivers have already been made to manage a reduced need for transport from Kaunisvaara to Pitkäjärvi.
In the near future, the company will begin negotiations with trade unions regarding staff reductions. At the same time, efforts will be intensified to reduce external costs and further streamline operations.

– "This is a difficult decision, but absolutely necessary to ensure a long-term competitive mining operation in Tornedalen. Our mine and employees are of great importance to the region, and we are doing everything we can to protect the future of both the business and the community," adds Klas Dagertun.

The Road Ahead
Kaunis Iron's management will continue to closely monitor market developments and adapt operations accordingly. The goal is to build a long-term sustainable and competitive mining operation that can contribute to the continued development of the region.

– "We will work closely with our employees and trade unions to find the best possible solutions in these challenging times. We are committed to ensuring that Kaunis Iron remains a key part of the region's future," concludes Lars Bogren, HR Manager of Kaunis Iron.