Sandvik wins large mining equipment order in Democratic Republic of the Congo

Rhea-AI Summary

Sandvik (SDVK) has secured a significant underground mining equipment order from JMMC, a subsidiary of JCHX Mining Management Co., Ltd., for the Kamoa-Kakula copper mine in the Democratic Republic of the Congo. The SEK 200 million order includes trucks, loaders, and longhole production drills, to be delivered in 2024.

Positive

• Expansion of collaboration with JMMC showcases the strength of Sandvik's solutions offering.
• The order value of SEK 200 million contributes to the company's revenue growth.

Negative

• None.

STOCKHOLM, Nov. 29, 2023 /PRNewswire/ -- Sandvik has received a large underground mining equipment order from Jimond Mining Management Company (JMMC), a subsidiary of the Chinese global mining services provider JCHX Mining Management Co., Ltd. to be used in the Kamoa-Kakula copper mine in the Democratic Republic of the Congo. The order is valued at around SEK 200 million and will be booked in the fourth quarter 2023.

The order includes Toro™ TH663i trucks, Toro™ LH621i loaders and Sandvik DL432i longhole production drills. Deliveries are scheduled during the first three quarters of 2024.

"Sandvik's intelligent load and haul equipment has been in operation at Kamoa-Kakula since 2019, and I am pleased to see us again selected to supply our highly productive offering. With this order we also expand our collaboration with JMMC to include intelligent underground drills, a testament to the strength of our solutions offering," says Mats Eriksson, President of Sandvik Mining and Rock Solutions.

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.

The following files are available for download:

https://mb.cision.com/Main/208/3884528/2461184.pdf

Sandvik wins large mining equipment order in Democratic Republic of the Congo

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SOURCE Sandvik

FAQ

What is the latest order secured by Sandvik (SDVK)?

Sandvik has secured a significant underground mining equipment order from JMMC, a subsidiary of JCHX Mining Management Co., Ltd., for the Kamoa-Kakula copper mine in the Democratic Republic of the Congo.

What is the value of the order received by Sandvik (SDVK)?

The order is valued at around SEK 200 million and will be booked in the fourth quarter of 2023.

What equipment is included in the order received by Sandvik (SDVK)?

The order includes Toro™ TH663i trucks, Toro™ LH621i loaders, and Sandvik DL432i longhole production drills, to be delivered in the first three quarters of 2024.

Who is the President of Sandvik Mining and Rock Solutions?

Mats Eriksson is the President of Sandvik Mining and Rock Solutions.

How can I get further information about the order received by Sandvik (SDVK)?

For further information, you can contact Louise Tjeder, VP Investor relations, or Johannes Hellström, Press and Media Relations Manager, using the provided phone numbers.