From deep under­ground to global markets

According to the International Energy Agency, demand for critical minerals will need to triple by 2030 and quadruple by 2040 if the world is to stay on course for net-zero emissions.

Meeting that demand, however, is becoming increasingly difficult.

Most of the easily accessible ore bodies have already been exploited. Around the world, mines are going deeper underground, where higher temperatures, increasing rock stress, longer transport routes and more complex ventilation requirements drive up both costs and operational risks.

For mining companies, automation and electrification are therefore no longer simply sustainability initiatives. They are becoming business necessities.

Automation is becoming unavoidable

Nowhere is that transformation more visible than at Boliden’s Rävliden deposit outside Kristineberg in northern Sweden.

Together with ABB, Epiroc and several other Swedish technology companies, Boliden is developing what many regard as the world’s first fully electrified and autonomous underground mine – a project intended not only to improve one operation but to demonstrate how future mines could operate across the world.

“We are reaching a point where it will simply not be possible to continue extraction without automation for safety reasons alone,” says Peter Wallin, Manager of Boliden’s Mines Electrification Programme.

“The deeper you go, the hotter it becomes. Ventilation becomes increasingly complex, and large-scale mining deep underground may eventually become too dangerous for people to work close to the production areas.”

Automation, he explains, is no longer driven primarily by climate ambitions.

“Reducing CO₂ emissions was initially one of the main reasons for electrification. Today, cost efficiency, productivity, profitability and safety are equally important drivers.”

Electrification and automation also reinforce one another. Electric fleets require intelligent charging, sophisticated energy management and digital traffic control, while autonomous equipment depends on reliable power, communications and data infrastructure.

“Reducing CO₂ emissions was initially one of the main reasons for electrification. Today, cost efficiency, productivity, profitability and safety are equally important drivers.”

Peter Wallin, Manager of Boliden’s Mines Electrification Programme

The result is a mine that functions less like traditional heavy industry and increasingly like an integrated digital ecosystem.

Sweden’s competitive advantage goes far beyond equipment

Sweden’s strength is often associated with world-leading mining equipment manufacturers such as Sandvik and Epiroc.

But the real competitive advantage runs much deeper.

Sweden has developed an industrial ecosystem in which mining operators, equipment manufacturers, software developers, vehicle producers, telecom companies, universities and public institutions collaborate to solve common technological challenges.

Boliden opens its mines as full-scale testbeds.

ABB develops electrification and automation platforms.

Epiroc designs autonomous equipment.

Ericsson delivers the connectivity needed for remote operations.

Volvo and Scania contribute electrified transport solutions.

Around them has grown an ecosystem of AI specialists, software developers and technology start-ups, many emerging from Swedish universities and research institutes.

“We like to think of ourselves as the Armand Duplantis of the mining industry,” says Wallin with a smile.

“We are constantly trying new technologies, and we actively encourage suppliers to use our mines as development sites. We are always pushing our subcontractors to develop the next generation of solutions.”

That collaborative culture has become one of Sweden’s most valuable export assets.

Rather than developing technology in laboratories, suppliers validate solutions in active mines before taking them to international markets.

According to Wallin, this ability to transform innovation into commercially proven reference projects explains much of Sweden’s global reputation in mining technology.

“We like to think of ourselves as the Armand Duplantis of the mining industry.”

Peter Wallin, Manager of Boliden’s Mines Electrification Programme

From sustainability project to business case

The mining industry today accounts for approximately seven percent of global carbon emissions, with mining vehicles responsible for roughly one quarter of that total.

Electrification therefore delivers immediate environmental benefits.

But mining executives increasingly see other advantages.

ABB's eMine™ Trolley System for battery-electric haul trucks demonstrate how electric vehicles can travel at nearly twice the speed of conventional diesel trucks while requiring significantly less maintenance.

At the same time, replacing diesel equipment reduces ventilation requirements – one of the largest operating costs in underground mining.

“Ventilation on demand alone can reduce energy consumption by around forty percent compared with traditional ventilation systems,” says Pär Lärk, Cluster Manager Mining & Materials at ABB.

ABB’s eMine™ platform integrates electrification, automated charging infrastructure, fleet management and digital control systems into a single operating environment capable of optimising both production and energy consumption in real time.

Artificial intelligence and cloud-based analytics are becoming increasingly important components of these systems, allowing operators to balance production schedules, electricity demand and renewable energy integration across the entire mining operation.

“Our role is to connect electrification with automation,” Lärk explains. “Only when you integrate the entire value chain – from energy management to fleet operations – can you fully optimise a mine.”

Projects such as Boliden’s Rävliden mine have already demonstrated the productivity gains that such integrated systems can achieve.

For mining operators, the investment case is becoming increasingly compelling.

For lenders, it is making mining projects more resilient, efficient and better positioned for a future shaped by stricter environmental standards and rising demand for responsibly produced minerals.

Financing the transition

Despite strong commodity markets, financing remains one of the industry’s greatest challenges.

Developing a new mine – or converting an existing operation to automated and electrified production – requires substantial upfront investment and long repayment periods.

Many projects are technically sound but financially difficult to structure without effective risk sharing.

This is where export credit agencies increasingly play a strategic role.

By providing AAA-backed guarantees linked to Swedish exports, EKN helps commercial banks extend financing with longer tenors.

For suppliers, that often determines whether they can compete for large international projects.

“This type of support enables suppliers to participate in projects that might otherwise be commercially unviable because of long payback periods or elevated risk,” says Lotta Danielsson, Deputy Head of Large Corporates at EKN.

As mining companies increasingly seek integrated automation and electrification packages rather than individual pieces of equipment, access to long-term financing becomes just as important as access to technology.