China's CiDi Targets Overseas Markets for Autonomous Mining Equipment

Chinese autonomous mining solutions provider CiDi is set for a major international expansion this year, aiming to grow its overseas deployments and revenue contribution, CEO Albert Hu told Reuters. The Hong Kong-listed company is building on initial deployments in Australia and is actively pursuing contracts in the Middle East, South America, and Europe.

Expansion and Financial Goals

CiDi expects overseas markets to contribute a double-digit percentage of its total revenue by next year, a significant increase from its current low single-digit share, according to Hu. The push for global growth follows a period of rapid domestic expansion.

The company's revenue more than doubled last year to 884.8 million yuan ($130.6 million). Hu noted that CiDi's deployments and revenue in China grew by 374%, far outpacing the broader Chinese autonomous mining equipment sector's growth of approximately 73%.

Business Model and Technology

CiDi operates on an "asset-light" business model, selling its proprietary hardware and software directly to mine operators rather than managing vehicle fleets itself. The manufacturing of the equipment is handled by partner companies.

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This technology is designed to reduce labor and fuel costs while enhancing operational safety. The company's global fleet has now surpassed 1,700 vehicles across 30 quarries and coal mines, primarily in China. At one site in Jiangsu province, a fleet of 12 fully electric, self-driving trucks hauls limestone autonomously. A single remote operator can currently monitor around 100 trucks, a ratio the company expects to improve.

Future Developments

Beyond autonomous trucks, CiDi is developing robotic solutions for high-risk tasks. The company plans to introduce robotic explosive-hauling units in the third quarter and drilling robots early next year. These innovations are partly driven by a focus on safety, particularly after a deadly mine explosion in Shanxi province in May.

To facilitate its global reach, CiDi has a distribution partnership with British mining equipment manufacturer MMD Group and is seeking additional partnerships with international mine operators. The company's ability to coordinate large fleets, sometimes up to 500 trucks at a single mine, is a key technological advantage, Hu said.