Technologies such as autonomous rail-cars and increased automation can lower the impact of the industry on the environment as well as raise profit margins, the company said.
Sandvik said last year it was evaluating options for the business, which it bought in 2014 for $740 million and was part of its mining and rock technology unit.
He has vowed to revisit the country’s controversial glacier protection law, and said his team is working on clear rules for the natural resources sector.