‘We’re splitting oil profits with mining customers’: Sandvik

Richard Roberts

Earning more from customers, ‘but they actually spend less’

Sweden mining equipment major Sandvik claims to be winning three-quarters of mining heavy battery-electric vehicle orders on the table, but says stronger competition would help speed growth in the business.

Speaking at the company’s 2023 Capital Markets Day, Sandvik Mining & Rock Solutions president Mats Eriksson said Sandvik was “on track” to meet its 2030 goal of having 50% or more of its underground hard-rock mining equipment sales come off its expanding BEV production lines.

More than 15% of the manufacturer’s mining loader and haul-truck order intake in 2023 had been BEV.

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