LKAB said IFS' cloud-based EAM solution offers an open architecture for easy integration to support maintenance and logistics in mining operations, noted a joint statement from the companies. Financial details of the deal were not disclosed.

"IFS is an open solution that will connect to our technological backbone and support our current and future needs," said LKAB senior vice president, market and technology, Markus Petäjäniemi. "[We] need the very best technology to make sure our people and assets are working efficiently and safely."

The IFS solution will be used by some 4,000 LKAB employees working in Sweden, England and Norway, and will be a key plank of LKAB's plans to achieve carbon dioxide-free production by 2045, said the companies.

"We are honoured to have been chosen by LKAB to help usher in a new era of efficient mining," said Elni Kullmer, IFS managing director, Nordics. "We have been supporting EAM processes in asset-intensive industries since the 1980s and we are thrilled to be able to bring our experience to bear on this exciting project".

LKAB, which produces 80% of the iron ore in Europe, announced last November it plans to invest nearly US$47 billion by 2045 on an environmental transformation strategy.

The company plans to replace its iron ore pellets with sponge iron produced using green hydrogen as part of a strategy to achieve net-zero carbon emissions.

The move to IFS's EAM comes as LKAB is launching a new application platform as an part of its digitalisation journey, noted LKAB.