HD Hyundai Construction Equipment partners with Indonesian mining firm Hasnur Group
HD Hyundai Construction Equipment said Thursday that it has joined forces with Hasnur Group, a major mining firm in Indonesia, to develop mining solutions as the Korean company looks to expand its global presence.
Representatives from both companies signed a memorandum of understanding at HD Hyundai Construction Equipment's recently completed Ulsan Campus. The new facility is a smart factory with an annual production capacity of 15,000 units, up from the previous 9,600 units, following an investment of about 200 billion won ($145 million) for the revamp.
Under the partnership, HD Hyundai Construction Equipment and Hasnur Group will work together in a range of areas, including the supply of mining equipment and development of electric excavators.
The company plans to begin its mining equipment supply with large wheel loaders. Using data from the mining site, the company will propose ways to manage on-site operations more efficiently. The Korean firm will also look to develop a 'total mining solution' that covers equipment supply, maintenance and repair, and site management systems.
HD Hyundai Construction Equipment said it expects to accelerate the development of electric equipment such as excavators, working with the Indonesian company to carry out on-site tests for the new equipment.
Indonesia, which has one of the world's biggest reserves and production volumes of nickel, as well as other strategic minerals such as tin and cobalt, has seen steadily rising demand for mining equipment. Global market intelligence firm 6Wresearch estimates Indonesia's mining equipment market to be worth $2.5 billion this year and projects it to grow at an annual rate of 8.1 percent through 2031.
'The collaboration will go beyond simply equipment supply and serve as a turning point to secure on-site operation solutions for mines and automated ecosystems,' said Choi Cheol-gon, CEO of HD Hyundai Construction Equipment.
'Based on this, we will become a digital-based total solution company in the global mining market.'
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