ed4429 Sep 2018 23:30
My take is that LKAB is the recognised State miner and as the State doesn't explore. LKAB therefore doesn't explore, it only exploits the resources or acts as agreed with and directed by the State. Resources being proven up by other mining/exploration companies that aren't under State ownership.
I may be wrong, but in accordance with the existing policy, the lack of exploration makes sense, insofar as it means that there won't be the continual burning through of State funds. LKAB only stepping in then at the business end, to partner with or buy out companies on behalf of the State, in order to exploit those proven resources and bring home the national bacon.
All in my opinion though.
Cheers Ed.