Caterpillar

Caterpillar profits in Q1 beat analysts expectations

Caterpillar Inc. (NYX:CAT), the world’s largest manufacturer of earthmoving equipment by revenues, injected some optimism on the U.S. economy today, after announcing profits for the first quarter well above of Wall Street expectations.

Caterpillar's big bet on the US economy

It hasn't been long since Caterpillar Inc looked like the typical resident of the Rust Belt. Having misjudged how deep the U.S. economy would decline, the world's largest maker of construction machinery reduced its workforce by 33,000 people worldwide in 2009, closed plants and posted lower profits.

Caterpillar introduces 777G off-highway truck

The new Cat® 777G Off-Highway Truck introduces outstanding performance, production and fuel efficiency in the 100-short-ton (91-tonne) size class.

Over 18% of Canada’s job losses in February were in the mining industry

Despite a healthy economic growth, Canada’s economy lost 2,800 jobs in February, with at least 18% of those positions belonging to the mining sector.

Finning to invest US$350 million in Chile this year

Canadian company Finning International Inc. (TSX:FTT), Caterpillar’s equipment distributor in Chile, announced it will invest over US$350 millions in the South American country the year.

Finning has a record quarter and year

Finning, Caterpillar's largest equipment dealer, reported record revenues for the fourth quarter and full-year 2011 on the back of highest-ever equipment sales in each region.

Canada Lithium Announces C$75-million Debt and US$17-million Mine Fleet Financing; Project Construction on Schedule

Canada Lithium Corp. (TSX: CLQ) (OTCQX: CLQMF) is pleased to announce that The Bank of Nova Scotia (“Scotiabank”) and Caterpillar Financial (“CAT”) have provided credit-approved commitments to Canada Lithium Corp. to provide a C$75-million, five-year debt facility to finance Canada Lithium’s Québec Lithium open pit mine and process plant near Val d’Or, Québec.

Finning to acquire portion of Bucyrus distribution

Finning International Inc. (TSX:FTT) and Caterpillar Inc. (NYSE:CAT) today announced the companies have reached an agreement for Finning to acquire from Caterpillar the distribution and support business formerly operated by Bucyrus in portions of South America and Western Canada and in the U.K.

Caterpillar builds on Bucyrus/DBT plow success in China with new order

Caterpillar is building on its Bucyrus acquisition with the recent signing of another contract to deliver an automated longwall plow system to Chinese company Gasification Co, part of Lvliang Dongyi Group.

Caterpillar Plans Offer To Buy China's ERA Mining Machinery For About $887 Mln

Construction and mining equipment manufacturer Caterpillar, Inc. (CAT: News ) said Thursday it will offer to acquire Chinese equipment maker ERA Mining Machinery Ltd. for about 6.9 billion billion Hong Kong dollars or $887 million in order to expand market share and modernize its operations in China, where mine modernization will continue to drive demand for equipment.

Does Caterpillar build a bullish scenario for gold & silver?

On Monday morning, gold futures for December delivery climbed above $1,650, while silver futures closed in on $32. Gold and silver still remain in a trading range while markets wait on a European debt solution.

Caterpillar hits new Q3 record with $1.1B profit, $15.7B in sales

Continued improvement in demand, a company-wide focus on effectively managing the ramp-up through the Caterpillar Production System, and focused cost management drove third-quarter sales and revenues and profit for Caterpillar Inc.

The company today reported third-quarter 2011 profit per share of $1.71, up 40 percent from $1.22 per share in the third quarter of 2010. Profit was $1.141 billion, an increase of 44 percent from $792 million in the third quarter of 2010. Sales and revenues of $15.716 billion, an all-time record for the company, were up 41 percent from $11.134 billion in the third quarter of 2010.

BHP is looking for robotics exec to dig world's biggest open pit

Adelaide Now reports BHP Billiton wants to "future-proof" its massive Olympic Dam project, including using driverless haulage trucks and this week put out a recruitment ad for an executive to oversee the high-tech initiative. The system would mean operators can be in a control room on the site or even in the comfort of a city office hundreds of kilometres away.

BHP Billiton is in the final stages of the approval process for the $30 billion expansion of its existing underground operation at Olympic Dam to create a new open pit mine that would be the worlds biggest – trucks will haul overburden 24/7 for five to six years just to reach the ore body. The combined operations would mine 72 Mt ore per year and would produce 750,000 tonnes refined copper, 19,000 tonnes uranium oxide, 800,000 gold ounces and 2.9 Moz of silver per year.

Detour gold obtains US$40 million financing for mining fleet

Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to announce that it has executed a term sheet with Caterpillar Financial Services Limited ("Cat Financial"), pursuant to which Cat Financial has agreed to underwrite an additional mining fleet lease facility of approximately US$40 million to fund the Company's acquisition of additional Caterpillar mobile fleet equipment including two rope shovels (the "Mobile Equipment") for the Detour Lake gold project in northeastern Ontario. The additional US$40 million financing (the "Additional Facility") is in addition to the previously announced US$105 million mobile fleet equipment financing provided by Cat Financial.

US Department of Justice clears Caterpillar acquisition of Bucyrus

Caterpillar and Bucyrus International have received notification from the US Department of Justice (DOJ) that it has closed its investigation into Caterpillar’s planned acquisition of Bucyrus. The DOJ action, in addition to the expiration of the Hart-Scott-Rodino Act waiting period, concludes the antitrust review process in the US. The clearance by the DOJ will allow the acquisition, valued at approximately $8.6 billion (including net debt), to proceed as soon as all other conditions to closing have been satisfied. The transaction is expected to close in mid-2011. The implifications of this acquisition were considered in detail in IM, December 2010.

Northern Canadian First Nations Train with Mining Simulators

The YukonMine Training Association (YMTA) in Canada has taken their training initiative to the next level with the introduction of two new Cybermine surface and underground mining simulator systems. The YMTA is a partnership between the Yukon Territory’s mining- and resource-related industriesand First …

Designing for Safety: Mining Companies Collaborate with OEM’s

The phrase “safety is built from the ground up” may seem like a cliché. But a group of mining companies is taking the message to heart with a concerted campaign to work with original equipment manufacturers (OEMs) to ensure that safety is incorporated into the design of …

The Mine of the Future Might be a Thing of the Past

Automated operations are winning over today's mining industry. Whether it is autonomous trucks, tele-operated drills and blasts or automated logistics applications, mines are increasingly introducing these kinds of equipment and solutions, partly to better their Health and Safety performance indicators, …

Largest tyre chains

Following the recent completion of a three year expanion and modernisation program at its Aalen, Germany, tyre protection chain (TPC) production facility, International Mining reports, RUD-Erlau has delivered and installed two full sets of the world's largest TPCs. Called the …

Caterpillar Introduces G3520C 50 Hz Low Energy Fuel Package Generator Set

Caterpillar announces the introduction of the G3520C 50 Hz Low Energy Fuel Package Generator Set for use with methane fuels found in landfills, digesters and other low-energy biogas environments.

Caterpillar Announces Options for Repairing Machine Control and Guidance Systems

Caterpillar offers new repair options to keep Cat® machine control and guidance systems up and running and owning and operating costs down.

Cutting-edge technology – Caterpillar powers China-built IHC Merwede dredgers

Since cooperating on the dredger project “BeiYa 1” back in 2005, WesTrac China and IHC Merwede, the global leader in the design, fabrication and supply of equipment for the dredging industries, have collaborated on 23 newbuildings for the Chinese dredging market. These dredgers belong to three different models and utilise six different types of Caterpillar engines, with a total 81 units involved.

Caterpillar Paves the Future for its Customers in China

BEIJING, People’s Republic of China (PRC) – Caterpillar Inc. (NYSE: CAT) Chairman and CEO Jim Owens visited Caterpillar’s newest prime product manufacturing facility in China, Caterpillar Paving Products (Xuzhou) Limited (CPPX), during his most recent visit to Asia.

Caterpillar Expands Underground Mining Loaders Supply with New Assembly Line in Brazil

Caterpillar has opened a new assembly line of underground mining loaders in Brazil. In response to the continuing strong demand for mining equipment, Cat now is manufacturing the R1600G LHD in the long established Caterpillar facility in São Paulo State. The new line establishes a second source for Cat® LHDs, which previously have been manufactured solely in Tasmania, Australia.

Caterpillar Announces Entry Into Tunnel Boring Business With Acquisition of Lovat Inc.

PEORIA, Ill. – Caterpillar Inc. (NYSE: CAT) and Lovat Inc. announced today that Caterpillar has acquired Lovat, a leading global manufacturer of tunnel boring machines used in the construction of metro, railway, road, sewer, water main, penstock, mine access, high voltage cable and telecommunications tunnels.