Fambition and Baowu Resources Signed Strategic Cooperation Agreement

On September 26th, the signing ceremony of strategic cooperation between Baowu Resources and four domestic enterprises in the field of extractive equipment was held in Nanjing, Jiangsu Province. It took nearly a year to reach this cooperation, with all parties repeatedly discussing and negotiating the mode of cooperation. Zhang Hua, Senior Vice President of Baowu Resources, attended the signing ceremony.

As a leader in the field of mineral resources supply chain, Baowu Resources, relying on its well-constructed all-round matrix model of “four business segments (namely, domestic mines, overseas mines, trade and marketing, logistics) + four synergistic functions (covering smart trading, smart logistics, capital control and technological innovation)”, is determined to build a solid, reliable, efficient and green resource supply chain for the steel industry.

In recent years, Baowu Resources, combined with its own development strategy, has closely followed the development trend of the industry and clearly put forward the ambitious goal of “unmanned mining, non-co-operative mines, pollution-free mines, zero-carbon mines, accident-free mines”, committed to all-round enhancement of the core competitiveness of the mines. Among them, to realize the unmanned mining operation and to build the blueprint of intelligent mine, the key link is the unification of equipment selection. This requires standardization and unification of models, spare parts and operation and maintenance to accelerate the construction of smart mines.

Fambition Heavy Machinery Co., Ltd. is a leading R&D and manufacturing enterprise of mining trackless equipment in China. Fambition, with the development goal of creating a technology leading enterprise, specializes in the research, development and manufacture of underground LHD loaders, mining trucks and utility vehicles. Fambition is committed to providing safe, efficient, intelligent and low-carbon trackless equipment for underground mines around the world, promoting the development of underground mining operations in the direction of automation, digitalization and intelligence, and helping mines to improve the efficiency of ore production, reduce the operating costs of equipment, improve the level of production management and achieve sustainable productivity.

The signing of this strategic cooperation agreement marks the opening of a brand new chapter of strategic cooperation between Baowu Resources and Fambition and other industry peers. Driven by the common vision and strategic goals of both parties, Baowu Resources and Fambition will carry out in-depth cooperation in the core product areas of LHD loaders, trucks and utility vehicles, digging trolley and medium-deep hole trolleys.

This cooperation not only realizes the exchange and complementarity at the product level, but also takes an important step in technological innovation and industrial upgrading. Baowu Resources, a leading domestic iron and steel enterprise renowned globally, responds to the national call for high-quality development, takes the lead in promoting the new quality productivity development of independent research and development and manufacturing of the main process equipment for mine production with the role of a large enterprise, creates its own brand of high-end equipment, solves the problem of choke point and actively promotes the industry's intelligent and low-carbon transformation by virtue of its strong technological heritage and market appeal.

Fambition, as a strategic partner of Baowu Resources, fully meets the needs of Baowu Resources in global underground mining equipment with its leading R&D capability, excellent product performance, and market share and brand influence in the global mining industry. The close cooperation between the two sides is bound to bring vitality and strong power to the whole industry. In addition, this cooperation also puts special emphasis on the development of automatic driving, digital mining and new energy technology. With the advancement of technology and environmental awareness, these areas are gradually becoming the new favorites of the mining industry.

Baowu Resources and Fambition and other partners will work together to explore the application scenarios and business models of these emerging technologies, and endeavor to transform them into a powerful driving force for the development of the industry. Through the introduction of self-driving technology, the safety and efficiency of mining operations will be improved; through the construction of digital mines, the intelligent management and decision-making of mines will be realized; and through the development of new energy technologies, the energy consumption and emissions of mines will be reduced. The implementation of these initiatives will strongly promote the sustainable development and transformation and upgrading of the mining industry.