Norway’s Rana Gruber plans to switch to producing high-quality iron ore by 2029

Norwegian company Rana Gruber, the only iron ore producer in the country, has announced plans to switch to producing high-quality iron ore concentrate (IOC) with an iron content of 67% by 2029. This is stated in the company’s report.

The company has already completed the Fe65 project, achieving stable production of concentrate with an iron content of 65%. This has allowed Rana Gruber to improve product quality and profitability while increasing production volumes. Since 2020, ore enrichment has increased from 62% to 65%, and according to management, the investments made have already paid off in full.

CEO Gunnar Moje emphasized that the supply of high-quality ore is the most significant contribution to reducing emissions in the steel industry. According to him, achieving a stable iron content of 65% was an important milestone, and the existing resource base, efficient operations, and strong customer relationships create the foundation for further growth.

Rana Gruber plans to increase production of high-quality concentrate (Fe67) while maintaining low operating costs and improving product quality to take advantage of growing demand for ore for low-carbon steel production.

In Q3 2025, the company produced 472,000 tonnes of ore, reduced cash costs by 4.7% to NOK 556 per tonne and announced a dividend of NOK 1.60 per share, representing 70% of quarterly earnings.

Rana Gruber notes that amid a global decline in iron ore quality, the company’s ability to increase iron content makes it a key supplier for steelmakers transitioning to green technologies.

Earlier, Norway supported the expansion of the scope of CBAM to include more processed products, especially those whose prices are linked to the mechanism’s main commodities. However, the country acknowledges that it is difficult to determine where the line should be drawn.