Sandvik, SSAB partner for future fossil-free steel mining equipment

Sandvik Mining and Rock Solutions and steelmaker SSAB have signed a letter of intent to secure fossil-free steel for use initially in the production of Sandvik’s loaders and trucks.

SSAB aims to deliver fossil-free steel to the market on a commercial scale during 2026, and the letter of intent ensures Sandvik secures its required volumes within SSAB’s production capacity. As a fossil-free partner to SSAB, Sandvik can also apply for early fossil-free sample deliveries of, for example, a prototype frame, loader bucket or truck box to be used in a demo or concept product.

“Sustainability is at the core of our business strategy,” said Mats Eriksson, President of Sandvik Mining and Rock Solutions. “As the market demand for fossil-free products increases in the years ahead, this partnership will enable us to offer our mining customers solutions with a drastically reduced CO2 footprint,”

“We’re excited about supporting the sustainability journey of our customers in the mining industry,” said Johnny Sjöström, Head of SSAB Special Steels. “Fossil-free steel has the same high quality as traditional steel but with but with hardly any environmental impact. It will help to reduce our customers’ carbon footprint and offer a competitive advantage in the market.”

SSAB delivered the first steel made of hydrogen-reduced iron in 2021. The steelmaker works with iron ore producer LKAB and energy company Vattenfall as part of the HYBRIT initiative to develop a value chain for fossil-free iron- and steel production, replacing coking coal traditionally needed for iron ore-based steelmaking with fossil-free electricity and hydrogen. This process virtually eliminates carbon dioxide emissions in steel production.

The Science Based Targets initiative (SBTi) recently validated Sandvik’s new targets for reducing greenhouse gas (GHG) emissions as aligned with the latest climate science and consistent with the goals of the Paris Agreement. Sandvik has committed to reaching net-zero GHG emissions by 2050 and reducing absolute scope 1 and 2 GHG emissions by 50 percent already by 2030.

For further information, please contact:
Saija Kuusisto-Lancaster
Vice President, Strategy and M&A, Load and Haul Division
Sandvik Mining and Rock Solutions
Email: saija.kuusisto-lancaster@sandvik.com

Sandvik Group
Sandvik is a global, high-tech engineering group providing solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization and focus on optimizing our customers’ processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation and rock processing. In 2022 the Group had approximately 40,000 employees and revenues of about 112 billion SEK in about 150 countries within continuing operations.

Sandvik Mining and Rock Solutions
Sandvik Mining and Rock Solutions is a business area within the Sandvik Group and a global leading supplier of equipment and tools, parts, service, digital solutions and sustainability-driving technologies for the mining and construction industries. Application areas include rock drilling, rock cutting, loading and hauling, tunneling and quarrying. In 2022, sales were approximately 57 billion SEK with about 16,200 employees.