SSAB has pledged to supply Sandvik with innovative fossil-free steel for their loaders and trucks by 2026, securing Sandvik's supply and supporting their sustainability goals. This partnership will allow Sandvik to dramatically reduce its CO₂ footprint and offer environmentally conscious products in response to increasing market demand for such solutions.
A pivotal partnership has been established between SSAB and Sandvik Mining and Rock Solutions, marked by the signing of a letter of intent. This agreement paves the way for Sandvik’s loaders and trucks to be manufactured using SSAB's fossil-free steel, initiating a sustainable shift in the mining industry.
SSAB is set to roll out fossil-free steel on a commercial scale by 2026, and this timely letter of intent assures that Sandvik will receive the required quantities of this sustainable material. As part of this collaboration, Sandvik also gains the option to receive early deliveries of sample fossil-free steel for prototyping purposes.
The excitement from SSAB is palpable. Johnny Sjöström, the head of SSAB Special Steels, highlights that fossil-free steel maintains the revered quality of its traditional counterpart while significantly diminishing the environmental toll. This advancement not only aids in reducing the carbon footprint of SSAB's clientele but also provides Sandvik a distinct edge in an increasingly eco-conscious market.
Mats Eriksson, President of Sandvik Mining and Rock Solutions, emphasizes that sustainability is deeply embedded within their strategic approach. As the demand for green products escalates, Sandvik anticipates providing its customers with mining solutions that have a substantially reduced CO₂ footprint, thanks to their partnership with SSAB.
The genesis of SSAB's journey toward fossil-free steel production was marked by the delivery of the first batch of steel produced using hydrogen-reduced iron in 2021. SSAB, along with LKAB and Vattenfall, spearheads the HYBRIT initiative, aiming to overhaul the traditional coking coal-dependent steelmaking process. By employing hydrogen and fossil-free electricity, they envision a steel production methodology that eliminates CO₂ emissions.
Furthermore, the Science Based Targets initiative (SBTi) has given its nod to Sandvik's ambitious goals to slash greenhouse gas emissions. These targets are deemed consistent with the most up-to-date climate science and are in harmony with the objectives set by the Paris Agreement. Sandvik’s commitment is clear, they aim to achieve net-zero GHG emissions by 2050, with an interim goal to cut absolute scope 1 and 2 GHG emissions by 50% as soon as 2030.
The collaboration between SSAB and Sandvik is a testament to the industry's capacity for innovation and its commitment to environmental stewardship. By embracing fossil-free steel, Sandvik is not only taking a step towards meeting its sustainability objectives but also shaping the future of the mining and manufacturing industries to be greener and more responsible.