HD Hyundai Construction Equipment announced on the 19th that it signed a strategic business agreement with the Indonesian mining corporation Hasnur Group at the Ulsan Campus in Dong-gu, Ulsan. This is interpreted as a strategy to strengthen its market penetration in Indonesia, which has various minerals such as nickel, tin, and cobalt.
The two companies will collaborate in various areas through this business agreement, including the supply of mining equipment, development of total mining solutions, development of electric excavators, and establishment of site management systems. They will also work on developing solutions for optimized mining operations.
HD Hyundai Construction Equipment will gradually supply large wheel loaders and other construction equipment for mining to Hasnur Group. Based on the accumulated field data, they will jointly develop solutions to enhance mining operational efficiency. Testing of electrified equipment, including electric excavators, will also be conducted at the mines operated by Hasnur Group.
According to the global market research firm 6Wresearch, the mining equipment market in Indonesia is estimated to be $2.5 billion (3.4 trillion won) this year and is projected to grow at an average annual rate of 8.1% until 2031.