On July 28, EACON officially announced the completion of Pre-A round of financing of tens of millions of yuan, fully funded by Xinghang Guotou, which is the shareholder of the mining giant Zijin Mining Group. This financing will primarily be used to speed up the productisation progress of the autonomous system in open-pit mines, as well as to realise 24/7 autonomous haulage operations without safety driver as soon as possible in order to meet the safety and efficiency requirements of the mining area. In the same period last year, EACON received a 60 million yuan angel round investment from Chentao Capital.

EACON Mining Technology was established in May 2018, focusing on autonomous technology for mining vehicles. Its core team is composed of talents in the fields of autonomous driving algorithms, core hardware, smart mine, and operation platforms.

Minxi Xinghang State-owned Assets Investment and Operation Co Ltd was established in June 2000 with a registered capital of 368 million yuan. It is a wholly state-owned company that undertakes the operation of state-owned assets within the scope authorized by the government. The main business scope is responsible for the operation and management of state-owned assets within the scope of authorisation, exercising the investor’s “right to income, participating in major decision-making and selecting managers", as well as foreign investment (mainly highlighting the professional operation of investment and financing in the securities market and capital market). The company is currently the shareholder of Zijin Mining, an A+H listed company, with a market capitalisation of 50 billion yuan at its peak.

Li Jian, chairman of Xinghang State-owned Investment & Director of Zijin Mining, said that Xinghang State-owned Investment, as an industrial capital, mainly aims to realise the synergy and integration of industry resources. We look forward to the future, whether domestic or abroad, Zijin Mining can cooperate with EACON in the field of non-ferrous metals, empower each other and jointly contribute to the autonomous and intelligent open-pit mines.