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    EPI A   SE0015658109

EPIROC AB (PUBL)

(EPI A)
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Delayed Nasdaq Stockholm  -  11:29 2022-08-12 am EDT
177.60 SEK   -0.08%
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Epiroc wins large battery-electric equipment order for new all-electric mine in Canada

07/04/2022 | 02:31am EDT

Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has won a large order* from Glencore in Canada for battery-electric equipment and automation solutions that will be used at what will be one of the world's first all-electric mines.

Glencore's Sudbury Integrated Nickel Operations has ordered a full fleet of battery-electric equipment for use at the Onaping Depth Project in Ontario, Canada. The nickel and copper mine is located below the existing Craig mine and is being developed to start production in 2024. The order also includes the capability for advanced automation solutions, including remote control. 

"Glencore is taking a major leap forward in the mining industry by going all-electric with its Onaping Depth Project," says Helena Hedblom, Epiroc's President and CEO. "We are excited to collaborate with Glencore and deliver battery-electric vehicles and automation features on their journey to build a mine of the future.

Traditionally, mining machines are diesel powered, though more and more mining companies are adding battery-electric machines to their fleets. The benefits with battery electrification are significant, including eliminating emissions in operations, reducing noise pollution, and lowering costs by lessening the need for ventilation and cooling when required; this is especially important as underground mines keep getting deeper.

"Epiroc scored high on safety, design and testing of the entire battery system," says Peter Xavier, Vice President of Glencore's Sudbury Integrated Nickel Operations.  "Epiroc also offers large capacity batteries, uses a standard CCS charging protocol, has a battery swap system, and the designs are universal and compatible.  Also, the batteries have integrated cooling systems and safety systems built into the design."

The ordered battery-electric equipment is manufactured in Örebro, Sweden. The 23 machines ordered include Scooptram loaders, Minetruck haulers, Boomer face drilling rigs, Boltec and Cabletec rock reinforcement rigs, and Simba production drilling rigs. The Simba rigs will be operated in part through tele-remote from the comfort of a control room. All units will be equipped with Epiroc's Rig Control System, making them ready for automation and remote control, and will also be installed with Epirocs telematics system, allowing for intelligent monitoring of machine performance and productivity in real-time. 

*Epiroc defines a "large order" as at least MSEK 100 in value. 


Epiroc's Minetruck MT42 Battery is part of the order by Glencore

For more information please contact:
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

Epiroc is a vital part of a sustainable society and a global productivity partner for mining and infrastructure customers. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of SEK 40 billion in 2021, and has more than 15 500 passionate employees supporting and collaborating with customers in more than 150 countries. Learn more at www.epirocgroup.com.

https://news.cision.com/epiroc/r/epiroc-wins-large-battery-electric-equipment-order-for-new-all-electric-mine-in-canada,c3595517

https://mb.cision.com/Main/16899/3595517/1600198.pdf

https://news.cision.com/epiroc/i/epiroc-minetruck-mt42-battery,c3067260

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 48 109 M 4 789 M 4 789 M
Net income 2022 8 199 M 816 M 816 M
Net cash 2022 4 202 M 418 M 418 M
P/E ratio 2022 26,1x
Yield 2022 1,90%
Capitalization 208 B 20 675 M 20 675 M
EV / Sales 2022 4,23x
EV / Sales 2023 3,84x
Nbr of Employees 15 912
Free-Float 80,8%
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Number of Analysts 22
Last Close Price 177,75 SEK
Average target price 181,50 SEK
Spread / Average Target 2,11%
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Managers and Directors
Helena Hedblom President, Chief Executive Officer & Director
Håkan Victor Folin Chief Financial Officer, SVP-Finance & Controlling
Ronnie Leten Chairman
Jonas Albertson Chief Technology Officer
Ylva Lindquist Vice President-Compliance
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