HIGH PROFILE have in Sweden , including our long term partners and customers like Boliden , LKAB and Zinkgruvan , is significant as these mines are really at the forefront of new technology and making real the mine of the future through programs like SUM ( Sustainable Underground Mining ) and NEXGEN SIMS . This also has helped and continues to help us develop products for the global market . So Sweden and Örebro remain crucial to Epiroc ’ s evolution and development and therefore it is crucial for us to continue to ensure Örebro remains well positioned . Part of this is making strategic investments such as the ones you mentioned and we will continue to do this . I also want to mention people – we work a lot on making sure we continue to be an attractive employer for the younger generation ; plus that we attract the right people to crucial roles like software and automation engineers , where we are competing with many other types of companies for the best talent .
Q The industry is very much at an inflection point as regards electrification with a few trials and tests now being replaced by full fleet orders . Some companies have mentioned lead times as being an issue with BEVs – how are you ensuring Epiroc is fully prepared for the transition ? A First of all on the batteries we have a very strong partnership with Northvolt which is really important on the supply side but also allowing us over time to take advantages of the latest battery cell technologies in mining quickly as they are also exposed to other industry verticals . Mining remains relatively small in battery terms compared to automotive and other markets . We have also readied the facilities in Örebro to make sure we have the ability to ramp up fast when we need to . But it also goes back into the design of the equipment – we have built up a full range of BEVs in a modular way – which will make it easier to scale up when volumes increase . We use the same batteries for all our machines with different modules and sizes depending on the machine load capacity and duty cycle . We have also made sure that our people have the right skills . Overall we are well prepared for the ramp up and this also means we are looking to use our global footprint in the best possible way – and that includes manufacturing capabilities in the US , China and India – so to some extent we are able to manage volumes across our sites to best fit where market demand is coming from . On logistics themselves , there have been issues with both air and sea freight over the last few years and we are not immune to that , but the situation continues to improve . Q You have completed a lot of acquisitions since Epiroc was created – is there still room for transformational growth ? A There remain plenty of opportunities in the
technology space including close to our core business . We have made 23 acquisitions since the split and 27 since the split was first announced . Most of these support our growth strategy which broadly translates to us wanting to really be the leader in the major technology shifts as well as strengthening the aftermarket at the same time . There are some gaps in our portfolio in some niche areas which could still be closed but we have already addressed some of these , focussed on parts of the business where it would take longer for us to achieve the same result or products organically . A good example is AARD Mining Equipment in South Africa – bringing into Epiroc a number of new low profile equipment designs – plus it gave us a new manufacturing and assembly base in South Africa . But , of course the majority of our growth remains in house – in the past five years we have more than doubled our investment in R & D , and it is this that underpins most of our innovations .
Q Some of the key acquisitions involve OEMagnostic offerings such as your 34 % investment in ASI Mining and your recent acquisition of RCT . At Roy Hill you are automating a mixed fleet of large surface haul trucks which aren ’ t part of your traditional business . How important is that agnostic side of things going forward ? A All of our main autonomous and digital solutions are OEM-agnostic – this has been part of our strategy for some years , which reflects the fact that there is not a single mine out there with only one brand , they are all mixed fleet . And even
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JULY 2023 | International Mining 9