- Sandvik (SDVKY, Financial) secures its largest-ever order for battery-electric mining equipment, valued at SEK 750 million.
- The order is for South32's Hermosa critical minerals project in Arizona, with deliveries from Q4 2026 through 2030.
- Hermosa project aims to produce manganese and zinc, supporting a multi-decade mining operation.
Sandvik (SDVKY) has announced the receipt of its largest order to date for battery-electric vehicles (BEVs), amounting to SEK 750 million, from South32 for their Hermosa critical minerals project in Arizona, United States. This significant order includes a mix of battery-electric and conventional mining equipment such as trucks, loaders, bolters, development drills, and longhole drills.
Deliveries for this substantial order are scheduled to commence in the fourth quarter of 2026 and are expected to continue through 2030, with the majority of the equipment slated for delivery between 2026 and 2027. This long-term project provides Sandvik with revenue visibility extending over several years.
The Hermosa project stands out as the only advanced mining development in the U.S. capable of producing two critical minerals designated at the federal level — manganese and zinc. South32 anticipates developing Hermosa into a multi-decade operation, with initial production expected in 2027.
Mats Eriksson, President of Sandvik Mining and Rock Solutions, expressed pride in contributing to the increased supply of critical minerals through Sandvik's BEVs. He highlighted the advantages of the BEV equipment in reducing fuel expenses and maintenance costs while offering a longer lifespan, thus promoting more efficient, economical, and sustainable mining operations at Hermosa.
