Chinese Autonomous Mining Firm CiDi Targets Overseas Growth in 2024

Chief Executive Albert Hu told Reuters that CiDi (3881.HK) expects overseas deployments to rise sharply this year, aiming for a double-digit share of revenue from markets outside China, up from a low single-digit level. The company is preparing a larger rollout of its partially automated excavators in Australia and is pursuing contracts in the Middle East, South America and Europe. Hu emphasized that CiDi’s “asset-light” model—selling hardware and software while leaving manufacturing to partner truck makers—should enable faster scaling than rivals that operate their own fleets.

Reuters

CiDi has already equipped autonomous excavators at an open-pit quarry in Jurong, Jiangsu province, owned by cement conglomerate TCC Group Holdings (1101.TW). The site operates 12 fully electric, unmanned trucks that autonomously haul limestone and recharge on site, marking the first fully electric self-driving mining-truck fleet. Beyond trucks, CiDi is developing robotic arms for explosive-handling and drilling machines capable of moving a “truckload of explosive” for precise blasting. Explosive-handling units are slated for delivery in the third quarter, with drilling robots expected early next year in Shanxi and Inner Mongolia, regions under heightened scrutiny after a gas explosion killed 82 workers in May.

Reuters

CiDi’s revenue more than doubled last year to 884.8 million yuan (about $130.6 million). Deployments and revenue grew 374 % in China, outpacing the industry’s roughly 73 % growth. The firm now operates a global fleet of over 1,700 autonomous vehicles across 30 quarries and coal mines, with a single operator able to monitor around 100 trucks remotely. China accounts for roughly 10 % of the world’s driverless mining trucks, positioning CiDi within a leading national ecosystem.

Reuters

Hu highlighted a distribution partnership with British mining-equipment maker MMD Group and indicated that CiDi is seeking additional collaborations with both Chinese mine operators and overseas partners. He described coordinating large fleets—up to 500 autonomous trucks at a single coal mine—as a significant technological threshold that sets CiDi apart from competitors such as Fujian-based EACON (7687.HK).

Reuters

Analysts note that CiDi’s push into overseas markets could accelerate the adoption of autonomous, electric mining equipment globally, potentially reducing labor and fuel costs while improving safety in hazardous environments. The company’s focus on robotic blasting and drilling may also influence regulatory approaches to explosive handling in mining sectors worldwide.

Reuters