Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Sandvik Mining and Rock Solutions and Barrick Gold announced on Monday they have extended their global framework agreement, enhancing the long-term partnership between the OEM and mining major.
Sandvik and Barrick will aim to improve safety, productivity and sustainability through implementing the latest technology advancements, the announcement said. The agreement will be guided by operational and relationship KPIs.
“Sandvik Mining and Rock Solutions supplies value-adding technologies for our global mining operations,” stated Glenn Heard, mining executive at Barrick.
“This mutually beneficial cooperation will help ensure we continue our growth journeys in the areas of automation, digitalization and electrification in order to drive improvements across our sites,” he added.
The extended framework agreement includes Barrick’s rollout of Sandvik’s remote monitoring service (RMS) to its entire global underground fleet of more than 200 connected Sandvik trucks, loaders and drills. RMS has already reduced maintenance costs while increasing uptime across Barrick’s Sandvik fleet.
Under the framework agreement, Sandvik and Barrick will also develop a long-term BEV strategy and define BEV transition plans in line with Barrick’s objective to be carbon neutral by 2050.
“This extension of our agreement will strengthen Sandvik’s partnership with Barrick,” said Hugo Hammar, global account manager at Sandvik. “We look forward to continuing to work hand-in-hand to add value to Barrick’s business.”
