LKAB dismisses the criticism that a technical solution for fossil-free steel has been unilaterally chosen, which may soon be overtaken by cheaper and better technology. The company believes that it follows technological developments in the world, but has chosen a technology with hydrogen gas that suits the unusually iron-rich Swedish iron ore.
– We are building out in stages. You must always have the possibility that, if something revolutionary comes along that turns out to be better, we must be able to change tracks, says Niklas Johansson Sustainability Director at LKAB to SVT.
SSAB writes to SVT that:
It (hybrit editor’s note) is the technology that has the best conditions for us. Our transition continues and we see it as important for increased Swedish competitiveness and secured industrial jobs in Sweden.
H2GS: Unfortunate Polarization
The concern that electricity prices are at risk of increasing throughout the country due to the investments in the north, H2GS thinks is an unfortunate way to polarize.
All companies welcome a discussion about these big investments, they say, and admit that not least the expansion of more electricity looks to be a difficult challenge. But LKAB points out that their stock of hydrogen will soon stabilize electricity prices in Sweden.
With regard to state support, LKAB points out that the billions sought from the state Industriklivet are basically money that comes from the EU, where parts of this money are conditional on investments in future projects with a climate focus.
And the critics’ idea that the state-owned mining giant would be content with continuing to sell iron ore, which today provides good profitability, the company dismisses.
– I’ve heard that we’re going to stick to our last. But our competitors dig iron with a backhoe. We drill deeper and deeper – it is much more expensive – we have unusually good iron, but must refine our product if we are to continue to have good profitability, the option to “stand still” does not exist, says Niklas Johansson