Industry First: Boonray Technology and Pacific Insurance Launch Unmanned Mining Vehicle Insurance

According to the China Mineral Resources Report, my country's mining industry had over 600,000 units of construction machinery by 2018, and this figure continues to grow as the industry develops. Various types of construction machinery and equipment are essential for mining and transportation, often in large quantities. Such equipment is expensive, requires high operating requirements, and carries significant risks. In March 2021, the country's 14th Five-Year Plan explicitly recommended promoting the development of smart mines, with mining companies placing a particular emphasis on safety in production. Furthermore, according to the "Guiding Opinions on Accelerating the Development of Intelligent Coal Mines," jointly issued by the National Development and Reform Commission and eight other departments, open-pit coal mines must implement intelligent continuous operations or unmanned transportation by 2025.

Figure: Boray Intelligent Mining System

Against this backdrop of national strategy, intelligent mine reform is imperative. As a global leader in ubiquitous robotics, Boonray Technology is committed to the research and development and application of artificial intelligence technologies, including autonomous driving, to create enterprise-level intelligent operations solutions. In mining scenarios, Boonray Technology's intelligent open-pit mine solutions include multiple modules, including autonomous driving systems, remote control systems, V2X systems, and shovel monitoring and dispatching systems.

Figure: Pacific Insurance awarded Boonray Technology a plaque

Boonray Technology, while mastering cutting-edge autonomous driving technology, places a strong emphasis on commercialization, striving to create mass-produced autonomous mining trucks. To minimize decision-making costs for mine owners, in July 2021, Boonray Technology partnered with China Pacific Property & Casualty Insurance to launch the "Intelligent Autonomous Mining Truck Insurance." This product, a first in the autonomous driving industry, includes both damage and third-party liability insurance, similar to conventional auto insurance, with coverage up to 10 million yuan depending on the model. This insurance policy is a prerequisite for the implementation of new products in mining areas, where safety is paramount. Furthermore, China Pacific Insurance Group, a leading domestic insurance institution, was willing to customize insurance policies for Boonray's products. This was based on Boonray's extensive operational experience and road test data accumulated at leading mining companies such as Luoyang Molybdenum and Jiugang. Boonray also boasts extensive experience in the energy industry, with successful cases across coal, non-ferrous metals, ferrous metals, and sand and gravel mines.

Boonray Technology has already commenced commercial operations in multiple open-pit mines, generating sustained revenue. At the same time, Boonray Technology has established strategic cooperation with many mining companies and OEMs. As an ecological partner of State Power Investment Corporation, it is committed to jointly building "smart mines" and "green mines".