Sandvik Secures €500 Million EU Funding to Advance Mining Automation

Stockholm-based engineering giant Sandvik has received a €500 million loan from the European Investment Bank (EIB) to support its 2026–2029 R&D program. The funding will accelerate development of next-generation cutting tools, battery-powered mining equipment, and advanced automated and digitalized excavation solutions.

The seven-year loan reinforces Sandvik’s strategy to deliver safer, more productive, and sustainable solutions across mining, construction, and industrial sectors. Research will focus on centers in Sweden, Finland, and Germany.

EIB representatives highlighted the strategic importance of investing in European industrial competitiveness, autonomy, and sustainable innovation. Sandvik CEO Stefan Widing said the funding enables long-term R&D projects, supporting electrification, automation, and digitalization initiatives that set new industry standards.

The investment also aligns with Europe’s green and digital transition, helping secure critical supply chains, reduce emissions, and accelerate the adoption of advanced industrial technologies. Sandvik’s expanded R&D capabilities are expected to drive innovation, competitiveness, and sustainable growth across European mining and heavy industry.