Luossavaara means one of the two Ore in the northern Swedish town of Kiruna. Previously, iron ore was also obtained in this mountain, today, the dismantling of the Kiruna iron ore mine, however, limited to the second Erzberg Kiirunavaara. In both mountains, the apatite iron ore between layers of syenite porphyry and quartz porphyry. The ore has a content of 61 % iron and less than 1 % phosphorus.

The seam is about 700 m long and up to 40 m thick. Magnetite addition it also contains small amounts of titania and actinolite. The mine was first operated in open pit mining. Additional workings reached in the north to 365 m in the south and to depth of 250 m. Between 1919-1976 and 1981-1985 a total of 16.65 million tons of ore were recovered.

The magnetite ore from Kiruna is processed by the mining company LKAB ( Luossavaara - Kiirunavaara Aktiebolaget ) into pellets and transported with the ore railway either to Narvik or to Luleå.

On the higher part of the mountain today, there is a ski lift.