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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

Canadian Torex Gold orders $63 million from Sandvik.

Torex Gold Resources Photo Credit: Alamy Torex Gold Resources Photo Credit: Alamy
Torex Gold Resources Photo Credit: Alamy Torex Gold Resources Photo Credit: Alamy

Torex Gold Resources, a Canadian mining company, ordered 650 million Swedish crowns ($62.76 million) from Sandvik (SAND.ST) on Tuesday.

Twenty internal combustion engine equipment units and 15 battery-electric vehicles were ordered.

Sandvik said the order is its third-largest battery-electric mining fleet order and first in Latin America.

Sandvik said equipment deliveries will begin this year and continue through 2025.

Torex said it will use the fleet for its Media Luna underground deposit in Mexico, which it expects to start commercial production in early 2025.

Conventional equipment includes loaders, trucks, bolters, production drills, and a raise borer, while battery-electric vehicles include loaders and twin-boom jumbos.


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