EIB provides €500m to Sandvik for advanced mining solutions

The European Investment Bank (EIB) has agreed to supply a €500m ($576.19m) indebtedness to Swedish engineering radical Sandvik to enactment precocious probe and improvement (R&D) successful automated, integer and sustainable mining solutions.

This backing volition bolster Sandvik’s R&D initiatives from 2026 to 2029, with activities concentrated successful Sweden, Finland and Germany.

The concern programme aims to accelerate the improvement of caller cutting technologies, battery-electric mining equipment, tooling systems, and next-generation solutions for digitalised and automated mining and stone excavation.

EIB vice-president Karl Nehammer, liable for operations successful Sweden and Finland, said: “Europe’s concern competitiveness depends connected sustained concern successful innovation and precocious manufacturing.

“Sandvik is simply a planetary exertion leader, and this financing volition assistance accelerate the improvement of automated, integer and sustainable concern solutions that fortify Europe’s strategical autonomy.”

Sandvik, known for its equipment, services and integer solutions for mining, manufacturing and infrastructure, has a long-standing narration with the EIB.

Since 1999, the slope has financed 4 R&D programmes carried retired by Sandvik.

Sandvik CEO Stefan Widing said: “We person a beardown strategical absorption connected processing solutions that heighten productivity, information and sustainability for our customers. The EIB financing supports our semipermanent probe and improvement initiatives and provides flexibility to our wide backing strategy.”

The caller financing aligns with aggregate EIB Group strategical priorities, including the Innovation, Digital & Human Capital argumentation priority, the TechEU programme supporting integer and technological innovation, and the Critical Raw Materials strategical initiative.

Additionally, the task is expected to beforehand cross-cutting objectives related to cohesion, biology sustainability and clime action.

In August this year, Sandvik introduced its AutoMine Surface Drilling Training Simulator, a instrumentality designed to heighten relation skills and boost the ratio of automated drilling operations.

"EIB provides €500m to Sandvik for precocious mining solutions" was primitively created and published by Mining Technology, a GlobalData owned brand.

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