May 2026
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Largest Metals & Mining Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
Boliden, SSAB AB (publ), Alleima, Granges and Troax Group.
 | Boliden AB operates Mines and smelters in Sweden, Norway, Finland, and Ireland. The company processes zinc, copper, gold, silver and other metals and is engaged in exploration, mining, smelting, and metals recycling. The company has two operating segments: the business area smelters and the business area mines. The business area mines division comprises mining areas: Aitik, the Boliden Area, and Garpenberg in Sweden; Kevitsa in Finland; and the Tara mine in Ireland. It includes both underground mines and open-pit mines. The company generates maximum revenue from the Business area Smelters segment. | $53 | +64% | $15B | $16B | 1.6x | 6.8x | ||
| SSAB AB (publ) is a Swedish steel producer specializing in high-strength and specialty steels for applications across industries like automotive, construction, heavy transport, mining, and energy. The company manufactures quenched and tempered steels, high-strength steels, heavy plates, strip products, and tubular goods through divisions including SSAB Special Steels, SSAB Europe, and SSAB Americas, with production sites mainly in Sweden, Finland, and the United States. | $9 | +46% | $9B | $8B | 0.7x | 6.9x | ||
| Alleima AB is a developer, manufacturer, and supplier of high-value-added products in stainless steels and special alloys as well as products for industrial heating. The company's offering includes products like seamless steel tubes for the energy, chemical, and aerospace industries, precision strip steel for white goods compressors, air conditioners and knife applications, based on more than 900 active alloy recipes. The firm has three divisions Tube, which derives the maximum revenue, Kanthal and Strip as the reportable segments. | $9 | +2% | $2B | $2B | 1.0x | 8.5x | ||
| Granges AB is a Sweden-based supplier of rolled aluminum products for original equipment manufacturers. It offers products in heat exchanger applications, specialty packaging, and new rolled product niches. Some of the products offered by the company include clad tubes, mechanically bonded copper tubes, brazed aluminum heat exchangers, aluminum packaging products, cathode foil materials, battery cooling aluminum plates, and aluminum powder materials, among others. These products find their applications in automotive, electrification and battery, specialty packaging, industrial, heating, ventilation and air conditioning, and other industries. The company's operating segments are Granges Eurasia and Granges Americas. Maximum revenue is derived from the Granges Eurasia segment. | $19 | +43% | $2B | $3B | 0.8x | 9.0x | ||
| Troax Group AB is a supplier of indoor perimeter protection (metal-based mesh panel solutions). The company focuses on three business areas namely Property Protection; Machine Guarding and Warehouse Partitioning. It generates maximum revenue from the Machine Guarding business. The Group's net sales are divided into the following five geographical areas: The Nordic region, the UK, Continental Europe, North America, and New markets, it derives a majority of revenue from the Continental Europe region. Machine Guarding comprises Troax’s standardized protection solutions for robot cells and automation solutions. The solutions comprise everything from individual mesh panels to complete installations of safety doors and locks equipped with circuit breakers. | $11 | -37% | $653M | $774M | 2.5x | 15.5x | ||
| Gruvaktiebolaget Viscaria is a mining company. Its operations are focused on the extraction of copper through the reopening of the Viscaria mine in Kiruna. Viscaria is a rich deposit and copper producer in Europe when mining starts. Minerals such as iron, zinc, gold, silver and cobalt are also included in the company’s portfolio of resources. It operates in one operating segment, i.e. exploration for and evaluation of mineral resources. | $2 | +11% | $419M | $315M | — | (57.9x) | ||
| Sotkamo Silver AB is a Sweden-based exploration and development company. It is engaged in the exploration and development of silver, gold and zinc deposits in the Nordic region. The company holds an interest in Taivaljarvi silver mine project. In addition, there are two gold deposits, Harnas which is a former small-scale gold mining site in Sweden, and Hopevuori gold occurrence in Finland. | $1 | +476% | $180M | $195M | 4.5x | 22.1x | ||
| ProfilGruppen AB offers aluminum extrusions and processed components. The company's geographical segments are Sweden, Germany, and other exports with a majority of its revenue being generated in Sweden. | $10 | -31% | $77M | $93M | 0.4x | 3.6x | ||
| HAKI Safety AB is an international industrial group, focusing on safety products and solutions that create safe working conditions at temporary workplaces. The company's business is divided into two segments, Safe Access Solutions and Industrial Services. Safe Access Solutions offers total solutions for safe working conditions in complex and demanding environments. The business area includes brands such as HAKI, EKRO, and Norgeodesi. Industrial Services develops, manufactures, markets and sells goods and services for professional use in a variety of industries. The company generates the majority of its revenue from the Safe Access Solutions. Geographically the company generates revenue from Sweden, Denmark, Norway, UK, France, Austria, North America, and Others. | $2 | -11% | $68M | $111M | 0.9x | 5.6x | ||
| BE Group AB is a steel service company engaged in trading and servicing steel, stainless steel, aluminium and other related products. The company offers direct deliveries, inventory sales and production services within the construction and engineering sectors. Its product range consists of commercial steel and tubes, engineering steel, reinforcing steel, stainless steel and aluminium. In addition, the company's resources for production service include cutting and sawing of steel, stainless steel and aluminium, shot-blasting and protective painting, cutting and drilling facilities, integrated in-line, flame-cutting, slitting and cutting to length and pre-processing of reinforcing steel. Geographically, the segments of the company are Sweden and Polen; Finland and the Baltics. | $3 | -29% | $55M | $124M | 0.3x | (2.6x) | ||
| Botnia Gold AB is engaged in mining and exploration of gold and other metals. Its projects include Vindelgransele, Vargbacken and Fabodtjarn in Sweden. | $1 | +8% | $54M | $48M | 1.8x | 4.7x | ||
| Akobo Minerals AB is a Scandinavian gold exploration and mining company. The company focuses on developing the Segele gold deposit and the Joru gold deposit. | $0 | +111% | $41M | $78M | — | 108.3x | ||
| AGES Industri AB is involved in die casting in aluminum, metal cutting processes, and product assembly in Sweden. The services offered by the company include Casting, Machining, Assembly and Welding. | $5 | -6% | $38M | $56M | 0.6x | 6.1x | ||
| Bluelake Mineral AB is an independent mining company. It is engaged in mine development of copper and zinc resources as well as the exploration of nickel, gold, and oil. The company also owns the nickel projects Ronnbacken and Orrbacken in Sweden. | $0 | +141% | $34M | $30M | — | (7.5x) | ||
| Nordic Iron Ore AB is a mining and exploration company with its main operations consisting of exploration and mining activities, principally through the management and refinement of the exploration permits and mining concessions held by the Company for iron-ore deposits in Vasterbergslagen. It is exploring the expansion potential in the intermediate Vasman field and Ludvika Mines, in southern Dalarna. | $0 | +10% | $29M | $25M | — | (12.6x) | ||
| Lappland Guldprospektering AB is a Swedish company active in gold prospecting with a focus on developing and operating gold mining in Sweden and the rest of the Nordic region. Its project include Stortjarnhobbens gold project. | $19 | +91% | $25M | $23M | — | (30.6x) | ||
| Eurobattery Minerals is a Swedish mining company. It focuses on exploring and developing nickel, cobalt, and copper deposits in Europe, delivering responsibly sourced raw materials that are critical to the expanding battery market for electric vehicles and sustainable energy production. The company's project portfolio comprises the Hautalampi in Finland and the Corcel project in Spain. | $0 | +126% | $22M | $23M | — | (12.7x) | ||
| Drillcon AB is a supplier of drilling services in the mining and infrastructure segment. It performs exploration drilling, core drilling, production drilling and raise drilling, mainly in the European market. Its services include core drilling, raiseboring, and infrastructure. | $0 | -15% | $18M | $28M | 0.7x | 7.0x | ||
| Mahvie Minerals is engaged in the exploration of minerals and related activities. The company focuses on base metals, precious metals, and specialty metals. Its project includes Mo i Rana and Haveri projects. | $0 | +76% | $8M | $8M | 24035.2x | (11.4x) | ||
| Cell Impact develops technologies to produce flow plates for fuel cells. It provides graphite, stainless steel, and titanium flow plates. The company has developed and patented a method for high-velocity forming, Cell Impact Forming that makes it possible to produce flow plates with more advanced designs, which in turn creates more cost and energy-efficient fuel cells compared to conventional molding methods. Geographically, it operates in Sweden, Asia, U.S. and Other Europe. | $0 | -28% | $8M | $9M | 15.8x | (1.6x) | ||
| Lovisagruvan AB is engaged in the mining and prospecting operations in the area of Strassa, Sweden. It operates a deep mine with lead, zinc and silver mineralization in Strassa, Sweden. The company currently has a production rate of approximately 3500 tonnes per month. | $2 | +23% | $6M | $8M | 3.4x | (7.9x) | ||
| Nordic Flanges Group AB is a supplier of industrial flanges in the Nordic region. Its business concept is to deliver flange solutions in stainless steel, aluminum and steel with the customer service on the market. Its products include Stainless steel, carbon steel, aluminum, and laboratory equipment. | $3 | +99% | $6M | $9M | 0.4x | 6.3x | ||
| Precomp Solutions AB is a producers of precision components to the automotive and manufacturing industries. The company's products include gearbox, engine parts, lock components, flanges, garden and leisure, shims, assembled components and seat parts. | $0 | +50% | $3M | $10M | 0.5x | 11.6x | ||
| Amnode AB manufactures and sells metal and brass products. The company through its subsidiaries engages in hot pressing, machining, turning, long-hole drilling, and gear milling products made from brass, copper, steel, and aluminum in Sweden. It serves industrial and engineering companies such as energy, heavy vehicles, logistics, fire safety, and plumbing. | $0 | -- | $699K | $1M | — | — | ||
| Africa Resources AB is engaged in exploration and extraction of minerals in Africa. The company is developing projects based on collaborations with local expertise and partners. | $0 | -76% | $182K | $767K | 3.0x | (4.0x) | ||
| Median | $2 | +17% | $38M | $48M | 0.9x | 5.2x |
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