Atlas Salt Enters Strategic MOU with Sandvik Mining and Rock Solutions for Underground Mobile Equipment Supply, Including $73 Million Financing

Atlas Salt Inc. has announced a non-binding Memorandum of Understanding with Sandvik Mining and Rock Solutions. This partnership positions Sandvik as the primary supplier and IPD partner for the Great Atlantic Salt Project, intending to improve operational capabilities with advanced equipment.

The MOU includes a fleet of electric mining equipment and the integration of the AutoMine® automation system for tele-remote and autonomous operations. Additionally, Sandvik will provide battery management services, a full maintenance program, and Deswik software for project optimization.

Sandvik's $73 million financing arrangement will support the acquisition and deployment of the specified technologies. The agreement remains non-binding pending final documentation and due diligence.

Richard LaBelle, CEO of Atlas Salt, expressed excitement about the partnership, highlighting the milestone in establishing Canada’s next salt mine. Sandvik's VP, Peter Corcoran, underscored the focus on safety, efficiency, and sustainability aligned with Atlas Salt's goals.