Anders Borg new chairman of LKAB

By Lennart Håkansson, North Sweden Business March 6, 2024
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Anders Borg
Anders Borg as Minister of Finance. Photo: Wikimedia Creative Commons Attribution 2.0
Former Swedish finance minister Anders Borg (M) will be the new chairman of the state-owned mining company LKAB. He succeeds former Prime Minister Göran Persson (S), who will step down at this spring’s annual general meeting after having been chairman since 2017.
Following Göran Persson’s announcement that he will not be standing for re-election, he will be succeeded by Anders Borg, who was Sweden’s Minister of Finance from 2006 to 2014 and has served on LKAB’s board for one year.The new chairman supports LKAB’s plans to convert to fossil-free sponge iron production and LKAB’s participation in the HYBRIT project for the production of fossil-free steel, which requires large investments and access to electricity.

He has not given an interview in connection with the nomination but says in a written comment to the business newspaper Dagens Industri:

“Refining sponge iron without carbon dioxide emissions opens a new market opportunity. It is important to ensure LKAB’s competitiveness and that the investments provide a good return for taxpayers and Sweden”.

New board members are also Carina Andersson, with a past in leading positions at the engineering group Sandvik, and Alrik Danielsson, former CEO of the ball bearing manufacturer SKF.