EACON Boosts Autonomous Mining Technology in Australia

In a Series D fundraising round, EACON Mining Technology, a top Chinese company that makes self-driving mining equipment, received US$55 million (about AU$86 million).   This is one of the biggest investments in mine automation in the last several years.

 This money will help EACON grow faster across the world, especially in the Australian mining industry, which is moving towards automation to make things safer, more productive, and cheaper.

The financing round was headed by CATL Capital, which is the investment arm of Contemporary Amperex Technology Co. Ltd. (CATL).   CATL is the biggest company in the world that makes batteries for electric cars.    CATL makes batteries for car companies all around the world, including as Tesla, Volkswagen, BMW, and Toyota.   This shows how the supply chains for batteries and mechanised mining Technology are getting more and more connected.

Strong supporters include Shaanxi Tonly Heavy Industries, CHC Navigation, FG Venture, Xingqi Fund, and Zhongji Holding.

“This investment coalition represents a unique convergence of equipment manufacturers, positioning mining technology specialists, and financial investors—all recognizing the transformative potential of autonomous haulage in mining operations,” noted industry analysts following the announcement.

Founded in 2018, EACON has built a reputation for its OEM-agnostic smart haulage technology, offering both factory-built and retrofit solutions that allow miners to automate their operations without replacing entire fleets.

This flexible approach has enabled the company to deploy nearly 1,500 autonomous trucks across more than 20 sites globally, including sites operating fleets of over 100 and even 200 autonomous trucks.

A large portion of this funding will be used to grow EACON’s Australian operations, including local R&D, tailored deployment of autonomous systems, and the setup of a full-service network. The company is already working with key partners like Thiess and Norton Goldfields. 

According to EACON co-founder and chairman Zhang Lei, the funding will focus on three key development areas specifically relevant to Australian mining operations:

“Our focus will be on three key areas: enhancing our hardware and software to develop next-generation systems that perform reliably in harsh conditions and boost productivity; expanding factory-fit autonomous solutions to more truck models, especially in metal mining and international markets; and accelerating overseas deployments by closely integrating our technology with local mining operations.

This strategic expansion comes at a time when mid-tier miners in Australia are increasingly interested in automation but have faced cost and technical barriers. EACON’s retrofit solutions may help democratize access to mining automation. In the long term, this could transform Australia’s mining workforce, shifting demand toward skilled roles in remote operations, systems maintenance, and data analysis.

While EACON faces regulatory, environmental, and workforce transition challenges in Australia, its scale, experience, and adaptable technology platform position it to be a major player. 

As analysts point out, The market is evolving fast. EACON is poised to challenge the status quo with real-world scale and adaptable technology. This funding signals strong confidence in automation as the future of mining—especially in resource-rich regions like Australia.