Sweden’s Gruvaktiebolaget Viscaria says Sandvik will supply automated underground drills and loaders for its proposed SEK7.3 billion (US$767 million) restart of the Viscaria copper mine in the country’s north.
Stockholm-listed Gruvaktiebolaget Viscaria completed a SEK1.7 billion ($155 million) equity raise in June this year and is looking to finalise a $500 million debt package with European lenders in the current quarter. It previously ordered comminution mills from Metso and contracted Nordec to build a processing plant.
Gruvaktiebolaget Viscaria aims to restart copper production at the site, which previously operated from 1982 to 1997, in 2028, cranking up to 26,000 tonnes per annum of copper in 2029. Its numbers on a 17-year life-of-mine project “show attractive project economics” with all-in sustaining costs projected at $3098/t between 2029 and 2036 and $4965/t LOM.
Domestic manufacturer Sandvik says it will deliver equipment to the mine between January and August next year. Four drills, four 21t-payload loaders and its AutoMine Multi-Lite automation and fleet management technology will be backed by a dedicated service arrangement.
“The agreement gives us access to modern equipment, digital solutions and a dedicated service organisation that will support the development of the Viscaria mine before the start of production,” Gruvaktiebolaget Viscaria CEO Jorgen Olsson said.
Sandvik mining president Patrick Murphy said the company had been involved at Viscaria since 2020.
“Viscaria represents exactly the kind of forward-looking project where early collaboration creates long-term value,” he said.
“We look forward to delivering our leading equipment, rock tools and automation solutions, backed by lifecycle services, to help Viscaria unlock the untapped potential of this historic mine.”
Gruvaktiebolaget Viscaria has a current market capitalisation of circa-US$750 million.
