Sweden: EIB backs Sandvik with €500 million for advanced mining and machining innovation

This article is published in association with European Investment Bank.

• EIB lends Sandvik €500 million to accelerate advanced research and development in mining, machining and digital innovation
• Project to strengthen Europe’s capabilities in advanced cutting technologies, battery-electric mining equipment, and digitalised and automated mining solutions
• Operation supports EU strategic priorities including TechEU, critical raw materials and industrial competitiveness

The European Investment Bank (EIB) has signed a €500 million loan agreement with Swedish engineering group Sandvik, a global leader in equipment, services and digital solutions for the mining, manufacturing and infrastructure industries, to support the company’s 2026–2029 research and development.

The investment programme focuses on developing new cutting technologies, tooling systems, battery-electric mining equipment, and next-generation solutions for digitalised and automated mining and rock excavation. The programme will take place mainly in Sweden, Finland and Germany.

“Europe’s industrial competitiveness depends on sustained investment in innovation and advanced manufacturing,” said EIB Vice-President Karl Nehammer, responsible for operations in Sweden and Finland. “Sandvik is a global technology leader, and this financing will help accelerate the development of automated, digital and sustainable industrial solutions that strengthen Europe’s strategic autonomy.”

The EIB has a long-standing relationship with Sandvik, having financed four previous research and development programmes since 1999.

“We have a strong strategic focus on developing solutions that enhance productivity, safety and sustainability for our customers,” said Sandvik Chief Executive Officer Stefan Widing. “The EIB financing supports our long-term research and development initiatives and provides flexibility to our overall funding strategy.”

The new financing is aligned with several of the EIB Group’s core strategic priorities, including the Innovation, Digital & Human Capital (IDHC) policy priority, the Strategic TechEU programme for digital and technological innovation, and the Critical Raw Materials (CRM) strategic initiative. The project also contributes to cross-cutting objectives in cohesion, environmental sustainability and climate action.

Background information

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in the organisation’s Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the EU is directed towards cohesion regions, where per capita income is lower than the EU average. 

The EIB Group is a key provider of finance and advisory in the critical raw materials sector. Through its new CRM strategic initiative, it aims to invest €2 billion annually across the entire value chain, supporting the EU’s Critical Raw Materials Act and ensuring a secure, sustainable supply.

High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.