QMEB ยป $83M funding secured for driverless truck expansion
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$83M funding secured for driverless truck expansion

EACON driverless truck
EACON driverless truck

An employer raised money to roll out more autonomous heavy vehicles.

EACON Mining Technology recently attracted US$55.22 million (A$83.4M) of capital to deploy additional driverless trucks.

Richen Capital, Shenyin&Wanguo Capital Management, ESTAR Capital and investors each helped gather the sum, lifting EACON’s total 2023 funding pool to US$62.13M (A$93.9M).

The business already operates 304 autonomous units, travelling a combined 4.2M km with up to “30 per cent” fuel savings and an “impeccable” safety record in the past five years.

This fleet is now expected to enjoy “rapid scaling” due to strong interest from multiple mine sites.

“Successful operation of 203 unmanned mining trucks in a single mine is evidence of EACON’s profound expertise in automation. I believe EACON will rapidly achieve net profitability,” cofounding chairman Lei Zhang said in a public statement.

Meanwhile, Byrnecut has awarded a new underground mining services tender at Liontown Resources’ Kathleen Valley Project.

Successful bidder Sandvik will spend the next four years supplying seven Toro LH621i loaders with AutoMine, three Sandvik DD422i development drills with Dual Controls, a Sandvik DS422i cable bolter and other rock tools.

Liontown previously awarded Byrnecut a $1 billion development and production contract at the mine during August 2023.

Byrnecut is investing $125M in new equipment for the project, with first production targeted for mid-2024.

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