Sandvik wins record SEK 330 million order for battery-electric mining equipment

STOCKHOLM, July 25, 2022 /PRNewswire/ -- Sandvik has been awarded an order to supply a fleet of battery-electric trucks, loaders, drills and on-site service support for Foran Mining's McIlvenna Bay project in Saskatchewan, Canada, which is designed to be the world's first carbon neutral copper development project. The order, valued at SEK 330 million, is Sandvik's largest to date for battery-electric equipment, and will be booked in the third quarter.

Under the contract Sandvik will supply a fleet of 20 battery-electric vehicles as well as Battery as a Service. The delivery of the equipment is scheduled to take place during 2023-2025. McIlvenna Bay is an underground copper-zinc mining project located in the Flin Flon Greenstone Belt with an objective to be carbon neutral. The project will be powered by clean hydroelectric power and designed to take advantage of Sandvik's latest technological advances in sustainable mining.

"I am very pleased that we have been chosen by Foran Mining to deliver our leading battery-electric solutions for the pioneering McIlvenna Bay project. Sandvik sees very strong momentum for our mining electrification offering, which offers great potential in driving more sustainable mining, helping customers to boost productivity, reduce greenhouse gas emissions and improve workers' health," says Stefan Widing, President and CEO of Sandvik.

The order comes after Foran Mining conducted a thorough analysis during its 2020 pre-feasibility study to determine the investment case for battery-electric vehicles (BEVs) compared to diesel. The company determined that in the case of McIlvenna Bay, BEVs provided better financial results when considering the savings generated through lower ventilation capital and operating costs.

Battery as a Service by Sandvik allows a mine to get the most out of its electric vehicles by relying on Sandvik's expertise to manage the capacity and health of batteries and chargers throughout their lifecycle.

Stockholm, July 25, 2022

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008

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SOURCE Sandvik