Atlas Salt partners with Sandvik, secures $73M financing for project

Atlas Salt has signed a non-binding memorandum of understanding with Sandvik Mining and Rock Solutions to supply underground mining equipment for its Great Atlantic salt project. Sandvik will also serve as the integrated project delivery partner, supporting equipment deployment, automation and project optimization.

As part of the agreement, Atlas Salt will purchase a fleet of electric mining equipment, including three MB670-1 continuous miners, five TH550B 50-tonne haul trucks, two Toro LH518iB loaders and an automated bolter. This equipment will integrate with Sandvik’s AutoMine system for tele-remote and autonomous operations, aiming to reduce operational risks and increase efficiency. Ambra Solutions will provide network infrastructure for wireless communication throughout the mine.

Sandvik has offered a $73 million financing arrangement to support the acquisition and deployment of the equipment. The financing offer is non-binding, pending due diligence and final documentation.

The agreement includes a comprehensive battery management service to power the electric fleet and a full maintenance program that covers preventative maintenance, inspections and rapid repairs. Sandvik will establish local warehousing in Newfoundland to ensure the immediate availability of critical parts, with on-the-ground technical support for seamless operations.

“Sandvik is proud to partner with Atlas Salt on the Great Atlantic salt project, bringing our cutting-edge mining solutions to one of the most significant salt developments in Canada,” said Sandvik VP Peter Corcoran. “Our focus on automation and digitalization aligns perfectly with Atlas Salt's commitment to safety, efficiency, and sustainability."

Atlas Salt is also working with Sandvik's Deswik engineering services to optimize the mine’s layout and operations. The partnership will include tailored ground support solutions from DSI Underground to address the specific geological conditions of the site.

For more information, visit www.AtlasSalt.com and www.Sandvik.com.