Atlas Salt E nters Strategic MOU with Sandvik Mining and Rock Solutions for Underground Mobile Equipment Supply, Including $73 Million Financing
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
FOR IMMEDIATE RELEASE
Atlas Salt E nters Strategic MOU with Sandvik Mining and Rock Solutions for
Underground Mobile Equipment Supply, Including $73 Million Financing
St. John's, Newfoundland and Labrador – September 9, 2024 - Atlas Salt Inc. (“Atlas
Salt” or the “Company”) (TSXV: SALT; OTCQB: REMRF) is pleased to announce the
signing of a comprehensive non- binding Memorandum of Understanding (MOU)
with Sandvik Mining and Rock Solutions (“Sandvik”). This strategic partnership
establishes Sandvik as th e preferred underground mobile mining equipment
supplier and Integrated Project Delivery (“IPD”) Partner for the Great Atlantic Salt
Project.
This partnership with Sandvik is a significant step forward in the development of the
Great Atlantic Salt Project, enhancing the Project’s operational capabilities with state-
of-the-art equipment designed for safety, efficiency, and sustainability. Sandvik ’s
offerings include the integration of their AutoMine® automation system, which will
elevate the mine’s operations through tele-remote and autonomous functionalities,
thereby reducing operational risks and increasing productivity.
Key Highlights of the MOU:
• Purchase of Advanced Electric Mining Equipment: As part of this
partnership, Atlas Salt will acquire a fleet of cutting -edge mining equipment
from Sandvik. This includes three MB670 -1 high-capacity continuous miners,
one MT521 roadheader, five TH550B 50-tonne battery-electric haul trucks, two
Toro™ LH518iB 18-tonne battery -electric loaders, and one DS 412iE battery-
powered bolter.
• Automation, Digital Integration, and Network Infrastructure: Included
with the mining fleet will be the development of the Automine® system for
core fleet automation. This system will enable tele -remote and autonomous
operations, making underground mining safer, more sustainable and
productive. Additionally, the fleet will feature a suite of Newtrax hardware and
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
complementary software products designed to provide proximity detection,
collision avoidance, and data-driven productivity and safety modules, ensuring
safe and efficient equipment operation. Supporting this digital transformation
is Ambra Solutions' advanced network infrastructure, which ensures seamless
wireless communication and data distribution throughout the underground
environment.
• Battery Management Service : Sandvik’s innovative Battery Management
Service will power Atlas Salt’s fleet with the latest battery technology,
minimizing downtime and enhancing productivity. This sustainable energy
solution aligns with the project’s commitment to reducing its environmental
footprint.
• Full Maintenance Program: Sandvik will provide a comprehensive Full
Maintenance Program, ensuring the continuous operation and peak
performance of all equipment. This program includes preventative
maintenance, regular inspections, and rapid response repair services, all
designed to maximize equipment uptime and minimize operational
disruptions.
• Deswik Software and Engineering Consulting Services: To optimize the
design and development of the Great Atlantic Salt Project, Sandvik will
leverage Deswik’s leading mine design software and engineering consulting
services. This will ensure that the mine’s layout and operations are fully
optimized for Sandvik equipment, promoting efficiency, safety, and
sustainability throughout the Life of Mine (LOM).
• Tailored Ground Support Offering and Grouting Expertise: Leveraging the
expertise of DSI Underground, the partnership will implement customized
ground support solutions and grouting services, tailored to the unique
geological conditions of the Great Atlantic Salt Project. These solutions will
ensure stability and safety in underground operations.
• Local Warehousing and Technical Support: Sandvik will establish local
warehousing facilities in Newfoundland to ensure the immediate availability
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
of critical parts and components. Additionally, a dedicated technical support
team will provide on-the-ground assistance, ensuring quick resolutions to any
operational challenges that arise.
In connection with the product and service offering, Sandvik has offered a $73 million
financing a rrangement to support the acquisition and deployment of Sandvik’s
advanced mining technology, equipment, and service solutions. The financing offer
remains non-binding pending completion of the final purchase documents and is
subject to customary due diligence.
Richard LaBelle, CEO of Atlas Salt, commented: “We are excited to partner with
Sandvik, a leader in mining technology, to equip the Great Atlantic Salt Project with
the most advanced underground mining systems available. This collaboration, along
with the financing, marks a major milestone in our journey to establish Canada’s next
salt mine.”
Peter Corcoran, Vice President of Sandvik Mining and Rock Solutions Canada,
added: "Sandvik is proud to partner with Atlas Salt on the Great Atlantic Salt Project,
bringing our cutting -edge mining solutions to one of the most significant salt
developments in Canada. Our focus on automation and digitalization aligns perfectly
with Atlas Salt's commitment to safety, efficiency, and sustainability."
For further information and ongoing updates, please visit https://atlassalt.com.
For further information about Sandvik, please visit
https://www.rocktechnology.sandvik/
Sandvik Mining and Rock Solutions
Sandvik Mining and Rock Solutions is a business area within the Sandvik Group and
a global leading supplier of equipment and tools, parts, service, digital solutions and
sustainability-driving technologies for the mining and construction industries.
Application areas include rock drilling, rock cutting, loading and hauling, tunneling
and quarrying. In 2023, sales were approximately 66 billion SEK with about 17,000
employees.
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
Atlas Salt Inc.
Atlas Salt Inc. is developing Canada’s next salt mine and is committed to responsible
and sustainable mining practices. With a focus on innovation and efficiency, the
company is poised to make significant contributions to the North American salt
market whi le upholding its values of environmental stewardship and community
engagement.
For information, please contact:
Richard LaBelle, CEO
(709) 739-9545
We seek safe harbor.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is
defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release. This press release includes certain “forward -looking
information” and “forward-looking statements” (collectively “forward-looking statements”)
within the meaning of applicable Canadian securities legislation. All statements, other
than statements of historical fact, included herein, without limitation, statements relating
to the future operating or financial performance of the Company, are forward -looking
statements. Forward -looking statements are frequently, but not always, identified by
words such as “expects”, “anticipates”, “believes”, “intends”, “e stimates”, “potential”,
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“may”, “could”, or “should” occur or be achieved. Forward-looking statements in this press
release relate to, among other things: obtaining financing, completion, delivery and timing
of project components and requirements, and analysis and assumptions related thereto.
Actual future results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements are made and are based
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
upon a number of assumptions and estimates that, while considered reasonable by the
respective parties, are inherently subject to significant business, technical, economic, and
competitive uncertainties and contingencies. Many factors, both known and unkno wn,
could cause actual results, performance or achievements to be materially different from
the results, performance or achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions and estimates based
on or related to many of these factors. Such factors include, without limitation: the timing,
completion and delivery of required permits, supply arrangements and financing. Readers
should not place undue reliance on the forward- looking statements and information
contained in this news release concerning these times. Except as required by law, the
Company does not assume any obligation to update the forward- looking statements of
beliefs, opinions, projections, or other factors, should they change.