Sandvik wins major order from LKAB for automated loaders

Rhea-AI Summary

Sandvik AB (SAND) has received a major order from LKAB, the Swedish mining company, to supply automated loaders for use at the Kiruna mine in northern Sweden, the world's largest underground iron ore mine. The order is valued at approximately SEK 250 million and will be booked in the fourth quarter. This follows a recent SEK 120 million order from LKAB for automated loaders, received in the second quarter 2023. The total of the two orders includes 12 Toro™ LH625iE cable-electric loaders and five Toro™ LH621i loaders, all equipped with Sandvik's AutoMine® solution. Deliveries are scheduled to begin in January 2024 and continue through the end of 2025.

Positive

• Sandvik's long-standing partnership with LKAB reflects a strong performance of their automated loaders in the Kiruna mine, showcasing the company's commitment to sustainability and productivity.

Negative

• None.

STOCKHOLM, Dec. 11, 2023 /PRNewswire/ -- Sandvik has received a major order from the Swedish mining company LKAB to supply automated loaders for use at the Kiruna mine in northern Sweden, the world's largest underground iron ore mine. The order is valued at approximately SEK 250 million and will be booked in the fourth quarter. It follows a recent SEK 120 million order from LKAB for automated loaders, received in the second quarter 2023.

The total of the two orders includes 12 Toro™ LH625iE cable-electric loaders and five Toro™ LH621i loaders, all equipped with Sandvik's AutoMine^® solution. Deliveries are scheduled begin in January 2024 and continue through the end of 2025.

"We are proud of our long-standing partnership with LKAB and very pleased to again provide new automated loaders to the Kiruna mine. The very strong performance of our automated loaders is well-proven in the Kiruna mine, and we look forward to continuing to support LKAB's goals to mine more sustainably and productively," says Mats Eriksson, President of Sandvik Mining and Rock Solutions.

With the new equipment, Kiruna's fleet of Toro™ LH625iE cable-electric loaders grows to 20 units, all of which will now be automated. The Toro™ LH625iE loader has been in operation at Kiruna since 2020 and was developed in a collaboration between Sandvik and LKAB to replace Kiruna's aging fleet of Sandvik LH625E loaders.

Stockholm, December 11, 2023
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.

The following files are available for download:

https://mb.cision.com/Main/208/3890682/2482845.pdf

Sandvik wins major order from LKAB for automated loaders

View original content:https://www.prnewswire.com/news-releases/sandvik-wins-major-order-from-lkab-for-automated-loaders-302011146.html

SOURCE Sandvik

FAQ

What is the major order received by Sandvik AB (SAND) from LKAB?

Sandvik has received a major order from LKAB to supply automated loaders for use at the Kiruna mine in northern Sweden, valued at approximately SEK 250 million.

What is the total value of the two recent orders from LKAB for automated loaders received by Sandvik AB (SAND)?

The total value of the two recent orders is approximately SEK 370 million, including 12 Toro™ LH625iE cable-electric loaders and five Toro™ LH621i loaders.

What is the delivery schedule for the automated loaders ordered by LKAB from Sandvik AB (SAND)?

Deliveries are scheduled to begin in January 2024 and continue through the end of 2025.

Who is the President of Sandvik Mining and Rock Solutions?

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

What is the contact information for further information about the order received by Sandvik AB (SAND) from LKAB?

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.