STOCKHOLM, Sweden, Nov 4, 2023 – Sandvik Mining and Rock Solutions and steelmaker SSAB have signed a letter of intent for purchasing of fossil-free steel to be used in the production of Sandvik loaders and trucks for the mining industry.
SSAB aims to deliver fossil-free steel to the market in commercial scale during 2026. The signed letter of intent ensures that Sandvik will receive deliveries of fossil-free steel from SSAB, within the company’s production capacity. 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, and as the market demand for fossil-free products will increase in the years ahead, this partnership will enable us to offer our mining customers solutions with a drastically reduced CO2 footprint,” says Mats Eriksson, President of business area Sandvik Mining and Rock Solutions.
“We’re excited about supporting the sustainability journey of our customers in the mining industry. Fossil-free steel has the same high quality as traditional steel but with hardly any environmental impact. It will help reduce our customers’ carbon footprint and offer a competitive advantage in the market,” says Johnny Sjöström, Head of SSAB Special Steels.
SSAB delivered the first steel made of hydrogen-reduced iron in 2021. The steelmaker works together 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 by 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.
About 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.
For more information, visit https://www.home.sandvik.