Sandvik Treasury AB
| Date: | 19.5.2025 |
|---|---|
| Country: | Sweden |
| Customer: | Sandvik Treasury AB |
| Amount in EUR: | EUR 150 million |
| Maturity: | 8 years |
| Business sector: | Industry & Real Estate |
Project
The loan has been provided to co-finance Sandvik’s R&D investments in the business area Mining for 2024–2026.
The loan is aimed at supporting Sandvik’s efforts in electrification, digitalisation, automation and sustainability solutions for the mining industry, which are key areas for the company to strengthen and further develop its offering to mining companies globally.
Sandvik’s R&D investments focus on electrification, automation, and digital solutions to decarbonise the mining sector, as well as on materials and process development to improve efficiency and minimize environmental impact.
A significant portion of these investments is being made in Finland, particularly at the Tampere site, which is a major R&D and manufacturing hub for Sandvik.
The focus on electrification and automation is part of Sandvik’s strategy to lead the industry in these areas, with the ambition that 50% of sales of underground hard rock equipment will be electric by 2030.
Fulfilment of NIB's mandate
Productivity
Sandvik plans to make most of its R&D investments in Tampere, Finland. R&D is a key driver of productivity growth for a company and can also enhance the productivity of other companies in the same industry or region through knowledge spillovers.
Sandvik, one of the largest mining equipment companies globally, has a high R&D intensity compared with its peers. Given that the Nordic region hosts many other globally significant companies in the sector, the advances Sandvik makes in its product offerings are likely to benefit other companies in the region through skills and technology transfer.
Expected productivity gains:
- Annual investments in R&D 2024–2026, SEK billion: 1.6
- Average R&D intensity 2024–2026, %: 4.1
Environmental
The R&D investment in mining and rock solutions at Sandvik is fully dedicated to electrification, automation and digitalisation to offer a range of zero-emission equipment for both underground and surface applications.
Sandvik is a leader in developing mining equipment and solutions for the hard-to-abate mining sector. The electrification aspect of R&D is the primary driver of their environmental mandate, while automation and digitalisation also contribute to environmental benefits, although to a lesser extent.
Sandvik has set a clear goal of reducing its greenhouse gas impact across the value chain. The largest impact is achieved through their products and solutions, as they continuously strive to increase productivity and minimise environmental impact.
Sustainability summary
Sandvik has had a Science-Based Targets (SBTi) in place and approved since 2023.
