After Caterpillar completed its $8.8 billion acquisition of Bucyrus on Friday it announced the start of a new mining equipment division in Milwaukee. The acquisition deal was announced last December. The president of the new division Steve Wunning said that there were great times ahead for the newly merged company.
Bradken (ASX: BKN), an Australian mining equipment supplier, saw its shares rise to $8.64 (+4.73%ý) last week after it announced that it had made some acquisitions that would raise earnings by $28 million.
The Fortescue Metals Group has decided to use robotic dump trucks in the Solomon project being planned for the Pilbara region of Australia's North West. Andrew Forrest’s company will have an automation rollout in Western Australia that is larger than the one operated by rival company Rio Tinto.
Caterpillar Inc is all set to increase its investment in the Griffin facility. They will create 200 jobs in Spalding County with their investment of $ 120 million. The money will be spent on machinery, equipment, and upgrades to the existing facility as per Governor Nathan Deal.
The price of mining truck tyres is now higher than the price of certain new luxury vehicles. The huge demand from China has tripled the price of Caterpillar mining truck tyres. The current price of mining truck tyres could even buy you a condominium in the U.S.
The NanoSteel® Company, a leader in coating technologies, today announced the launch of its Guardian™ CF hardband for application on drill pipe tool joints.
Australian Treasurer Wayne Swan said on Tuesday that the investment needs and demand for capital for the country are set to grow proportionately with the resources boom. For this reason Australia will have huge opportunities for foreign investment. The Treasurer was speaking to the International CEO Forum in Canberra.
By doubling its fleet of driverless trucks at its iron ore mining operations in the state of Western Australia, Rio Tinto will increase its production to 333 million tonnes annually by the end of 2015. The haul trucks are to be deployed in the largest mine site in the Pilbara region at Yandicoogina.
Along with the boom in the Australian mining industry has come an increased stress on plant and equipment. Delays of up to two years on new equipment orders mean that many companies don’t have the option of retiring machines – many are now be required to work well past what would otherwise be considered their serviceable life.
Quia Resources has mobilized two drill rigs to its San Lucas property that is situated in Colombia for the preliminary diamond drill program totaling 5,000 m.
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