Revenue in the mining product segment amounted to €1,669 million in the 2024 business year, representing an increase of €214 million or 14.7 % compared with the previous year.

In 2024, the need for raw materials remained strong. Coal production is stable with no expected changes in the medium term. Production volumes and prices for copper and gold remain consistently high. Furthermore, forecasts predict an increase in demand for critical materials needed for battery production.

The 2024 business year presented a mixed picture for Liebherr Mining's revenue across various regions. Forward orders are slightly better than they were in 2023, reaching levels not seen since before the pandemic. In Europe, both EU and non-EU countries experienced a decline in revenue. In North, Central and South America, revenue decreased as well, although positive results from Brazil were encouraging. The Africa and Near and Middle East regions faced a downturn overall, however strong results were observed in South Africa and Saudi Arabia. In stark contrast, excellent growth was achieved in Asia and Oceania, with Australia and Indonesia seeing the highest sales out of all the markets.

Liebherr Mining celebrated a number of firsts in 2024, particularly in the zero-emissions space, as a result of our industry-leading partnership for decarbonisation solutions with Fortescue. This included delivering a hydrogen-powered T 264 prototype and unveiling the first battery-electric T 264 at MINExpo 2024. Liebherr’s partnership with Fortescue has also resulted in the single largest equipment deal in the over 75-year history of the Liebherr Group, with 475 units of mining equipment to be delivered by 2030.

Investigation into alternative ways of managing power sources for zero-emissions mining equipment is also underway, including the Liebherr Power Rail concept – a class-agnostic dynamic charging system for haul trucks – and an off-board cable reel solution for electric excavators.

Digitalisation and autonomy were also important topics for 2024. IoMine – the mining product segment’s expanded technology portfolio – was launched in the fiscal year and includes semi- and fully autonomous products such as the Autonomous Haulage Solution, Fleet Management System and Machine Guidance System. IoMine also includes Remote Service, a suite of digital tools designed to streamline the issue resolution process for on-site personnel.

With the significant increase in machine orders between now and the end of the decade, Liebherr Mining has been investing heavily in its production infrastructure. Plans for ramping up production at Liebherr Mining Equipment Newport News Co. continued in 2024. Australian investments to cope with the activity growth of the truck business are being investigated and the first planning phase will begin in 2025.

With strong demand for mining equipment, an excellent forward order book and numerous projects for zero-emissions and autonomous technologies, Liebherr Mining expects continued success in 2025.