Sandvik wins large mining equipment order in Democratic Republic of the Congo
Sandvik has secured a significant order valued at SEK 210 million from JCHX Mining Management Co., Ltd. for mining equipment at the Kamoa-Kakula and Kamoya copper and cobalt mines in the Democratic Republic of the Congo.
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Rhea-AI Summary
Sandvik has secured a significant order valued at SEK 210 million from JCHX Mining Management Co., Ltd. for mining equipment at the Kamoa-Kakula and Kamoya copper and cobalt mines in the Democratic Republic of the Congo. The order will contribute to the company’s fourth quarter 2022 financials, with equipment deliveries expected throughout 2023, marking continued demand for Sandvik's advanced mining solutions. Mats Eriksson, President of Sandvik Mining and Rock Solutions, emphasized the order's validation of their intelligent mining equipment's strength and quality.
Positive
- Secured a large order worth SEK 210 million, enhancing financial performance.
- Strengthens market position in the mining equipment sector with ongoing demand.
Negative
- None.
Details
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STOCKHOLM, Nov. 24, 2022 /PRNewswire/ -- Sandvik has received a large mining equipment order from the Chinese global mining services provider JCHX Mining Management Co., Ltd., to be used in the Kamoa-Kakula copper mine and the Kamoya copper and cobalt mine in the Democratic Republic of the Congo. The order is valued at SEK 210 million and will be booked in the fourth quarter 2022.
The order is for a fleet of load and haul equipment. The equipment will primarily be delivered during 2023, but with the first delivery expected in 2022.
"I am pleased to see the continued demand for our highly productive offering of intelligent mining equipment. Our highest-capacity intelligent load and haul equipment has been in operation at Kamoa since 2019, and this order is a testament to the strength and quality of the solutions we provide," says Mats Eriksson, President of Sandvik Mining and Rock Solutions.
Stockholm, November 24, 2022
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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SOURCE Sandvik
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