Hitachi Construction Machinery’s first-quarter mining sales were stronger year-on-year, helping to offset some of the weakness in its dominant construction equipment business. However, the Japanese company is holding the line on its softer full-year mining outlook.
HCM booked Q1 mining sales of Y72 billion versus Y62.7b in the first three months of last year. Its FY24 started April 1 this year and runs through to March 31, 2025. FY24 Q1 mining revenue was 22% of group revenue for the period.
Tokyo-listed HCM is forecasting FY24 mining revenues of Y246.6 billion (circa-US$1.98 billion) compared with Y291.8 billion in FY23, a record year for the business.
Asia/Oceania is its dominant regional market, predicted to account for 58% of this year’s mining revenue (Y165.4 billion or cUS$1.15 billion).
“[FY24] machine sales are expected to decrease in the Americas and Oceania, [along with] parts and services in Asia, compared with the previous forecast in April 2024,” HCM said.
The company started a “technological feasibility trial of the world’s first ultra-large full battery dump truck at a mine site” in June this year.
It said the EH4000AC-3 nominal-222-tonne-payload truck typically used 1.2 million litres of diesel and generated 3000t of CO2-equivalent emissions per annum, operating an average 20 hours a day, 350 days per year.
A battery-powered version would produce zero operating emissions.
