South Korea’s HD Hyundai Infracore has reported an unprecedented 470 percent jump in equipment sales in Ethiopia this year, reflecting the country’s accelerating mining boom and rising appetite for industrial machinery. The company, which sells construction and mining equipment under the Develon brand, said it delivered around 1,300 units in 2025—its highest annual volume to date in the East African market.
Mining Boom Fuels Equipment Demand
Ethiopia’s mining sector has emerged as one of Africa’s fastest-growing extractive industries. According to data from the Ministry of Mines, the sector expanded by 162 percent year-on-year in the 2024/25 fiscal period, driven largely by artisanal and mid-scale gold operations. Official exports of gold reached US $3.4 billion, up sharply from the previous year’s US $1.3 billion, as the government intensified efforts to formalize small-scale mining and attract foreign investment.
This rapid expansion has fueled demand for robust and fuel-efficient machinery. The 36-ton Develon DX360 excavator alone accounted for roughly nine out of every ten units sold by HD Hyundai Infracore in the country. The model’s reputation for durability and fuel economy has made it the preferred choice for mining contractors operating in remote and power-limited regions.
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