Can you share key highlights from Epiroc Canada's 2023 performance?

In 2023 one of our major accomplishments was the successful deployment of the fully autonomous Pit Viper rigs in Canada. Collaborating closely with IAMGOLD on this project was essential, emphasizing the importance of effective teamwork and change management.

On the acquisitions front, we have been actively integrating new entities into our operations. Notable additions include MineRP, as well as the Australian company RCT. These strategic moves enable us to expand our automation solutions not only for our equipment but also for other brands, addressing the challenges of mixed fleets in the industry. We further strengthened our position with the acquisition of CR Mining, focusing on enhancing equipment lifespan through innovative solutions and digital monitoring. Connectivity is a key focus for us, and acquisitions like 3D-P are instrumental in providing network solutions for digital and automation requirements.

Our commitment to transformation is evident in our battery technology endeavors. We are progressing towards a complete underground EV fleet by 2025, offering both new and converted battery-operated machines. Additionally, we have established infrastructure, including a battery maintenance hub, to support the maintenance and repair needs of these systems.

Expanding our presence, we have initiated operations in Québec, establishing a local warehouse and a training center in collaboration with ACE Services Mécaniques. This initiative allows us to be closer to our customers, providing essential services such as training facilities and quick access to inventory components.

Maintaining a customer-centric approach, we have increased our workforce by over 15% in response to growing demand. What has been the most significant challenge for Epiroc Canada in 2023?

One notable aspect is the introduction of new products. While this brings excitement, it also comes with its set of challenges, such as addressing quality issues, optimizing machine performance, and establishing key performance indicators. Regarding supply chain dynamics, we have experienced some residual effects from the pandemic, primarily tied to our numerous suppliers. Another significant challenge is talent acquisition. Have you observed a slowdown in the adoption of BEVs in mining, considering the current financial climate?

In the mining industry, it is not a straightforward trend. Machine sales remain stable, dependent on fleet replenishment needs. We have significant greenfield projects in the pipeline that are incorporating battery equipment. It is not so much a slowdown in interest, but rather a maturing understanding of the technology. We experienced substantial orders last year from mines transitioning to full electrification. The initial curiosity and concerns about charging, battery life, and operational aspects are diminishing. The change is ongoing, and mines are strategically introducing battery equipment into their fleets, often alongside diesel, as they gradually adapt. The shift is part of a larger transformation that shows no signs of slowing down. Epiroc remains committed, with plans for a fully electrified underground fleet by 2025 and complete surface electrification by 2030. Overall interest remains strong and BEV adoption is a positive trajectory for the industry, both environmentally and operationally. Can you elaborate on your efforts to build a fully electric vehicle fleet by 2030?

Our focus extends beyond just the batteries themselves in our EV development. We have made significant strides in electrification, recently acquiring companies specializing in electrical infrastructure. In addition to developing batteries with our suppliers, our R&D efforts encompass the entire machine, ensuring continuous advancement. We are proud to have the industry's most powerful battery. Ultimately, our goal is to provide equipment that is not only more productive and efficient but also contributes to safer and more sustainable mining practices. The recent reduction in diesel exposure limits in Ontario further emphasizes the necessity of our EV initiatives. Can you share Epiroc's plans for 2024?

For 2024, our focus on Canada remains strong. Our key areas of emphasis will be on the battery electric and digital fronts, addressing challenges in data management and planning for mining operations. The integration of recently acquired companies will also play a pivotal role in expanding our portfolio. With a 70-year presence, we understand the industry's dynamics and aim to meet the evolving expectations of mines. Safety, sustainability, and productivity remain at the forefront of our efforts.