Press releases

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.