LKAB halts shipments to Libya
The Swedish mining company LKAB has a contract on the annual delivery of iron ore worth about 55 million EUR to Libya. Now, the shipments are halted.
The deliveries have been made to the company Libya Iron and Steel Company, Realtid.se reports. They account for about half of all Swedish exports to the country.
After having made a thorough analysis of the situation, the LKAB this week announced that they will cut the deliveries.
-There is a force majeur situation. The customer is not able to receive the delivery and the insurance companies are raising the fares making the shipping companies unwilling to go there, leader of the company’s marketing division Markus Petäjäniemi says.
The state-owned LKAB (Luossavaara Kiirunavaara AktieBolag) is a major Swedish mining company, based in Kiruna, northern Sweden. The ore extracted in the company’s mines in Kiruna and Malmberget is transported by train to the northern Norwegian town Narvik, from where deliveries are sent world-wide.
