Swedish industrial equipment maker Sandvik rose 3.2% on Tuesday after securing a SEK 275 million ($26 billion) order to supply underground mining machinery to Kamoa Copper S.A. for the Kamoa-Kakula copper complex in the Democratic Republic of the Congo.
The order, valued at approximately $26 billion at current exchange rates, includes trucks and loaders, with two units featuring Sandvik’s AutoMine automation technology. The contract will be recognized in the company’s third-quarter 2026 financials, with deliveries expected to commence in the fourth quarter of 2026 and continue through the third quarter of 2027.
Patrick Murphy, President of Sandvik’s Mining business area, said the company’s intelligent machines have operated at Kamoa-Kakula since 2019, underscoring its established presence in the high-grade underground mine. “I am pleased to see that we once again have been selected to supply our leading solutions, supporting more productive, efficient and safer mining operations,” Murphy said in a statement.
The Kamoa-Kakula complex is one of the world’s largest high-grade copper mines, with operations managed by a joint venture including Ivanhoe Mines, Zijin Mining and the DRC government. Sandvik’s order reflects sustained demand for automation and efficiency in large-scale mining projects amid rising global copper requirements for energy transition technologies.
