Atlas Salt Expands Agreement with Sandvik Mining

Atlas Salt Inc. has announced an expansion of its strategic agreement with Sandvik Mining. This development stems from the Updated Feasibility Study for the Great Atlantic Salt Project near St. George's, Newfoundland and Labrador.

The enhanced non-binding Memorandum of Understanding, initially revealed in September 2024, aims at fulfilling the construction and ramp-up needs outlined in the study. It involves Sandvik supplying underground mining equipment, technology, and services, valued at an estimated $132 million.

The partnership aims to ensure operational readiness and support the project's long-term operations. It emphasizes electrified equipment and automation, aligning with productivity and environmental objectives. Additionally, Atlas Salt granted 3,150,000 stock options to its team as part of its stock option plan.