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Alpha Gets Low-Cost Wyoming Coal With Foundation Buy
Alpha Natural Resources Inc.’s $2 billion acquisition of Foundation Coal Holdings Inc. gives the company access to low-cost Wyoming surface mines as stricter regulation makes work in Appalachia more costly.
Australian Mining Sector Plans To Develop Mine Exploration and Production
Australian miners are famous for outsourcing. It may sound bizarre to some, but a listed mining company doesn’t necessarily need internal expertise in exploration, drilling, metallurgy, construction or mining, due to the wealth of service providers willing to do those tasks.
Welcome To The New Energy and Industry Revolution
When a petrochemical company in China needed to lift an 812-ton piece of equipment into place at a new plant a while ago, it called on Wisconsin-based Manitowoc for a crane that soared more than 17 stories high.
The mechanical behemoth put the industrial-oil apparatus, itself 112 feet high, in place in less than 30 minutes.
The [...]
Global Mining and Energy Products, Caterpillar Inc. Demand 1Q Earnings up 13 percent
Heavy equipment maker Caterpillar Inc. said Friday that demand for its global mining and energy products pushed first-quarter earnings up 13 percent, far surpassing Wall Street estimates. Its stock surged.
The results showed continued weakening in North America, where the economy has weighed on sales, but better-than-expected strength internationally as Caterpillar sales overseas benefited from the [...]
Russian-Chinese oil service JV, Caterpillar sign partnership agreement
Izhdrill-Nordex-HunHua, a Russian-Chinese joint venture to produce drilling equipment, signed a partnership agreement on Tuesday with Caterpillar.
The agreement envisions cooperation in producing drilling equipment for the oil and gas sector in Russia and the CIS. The drilling equipment will be assembled from components from China, the United [...]
Gold Reserve Finalizes Caterpillar Equipment Purchase Agreement
Gold Reserve Inc. Gold Reserve Inc. is pleased to announce that it has finalized negotiations with Caterpillar Inc. and its local Venezuelan dealer, Venequip S.A., to provide Caterpillar haulage equipment, front end loaders and construction machinery for the construction and operation of Gold Reserve’s Brisas gold and copper mine in Venezuela.
Jim Geyer, Senior Vice President [...]
Mining Boom Pumps Up Terex
Rising demand for giant off-the-road tires suggests there’s more upside for the makers of jumbo-sized earth-moving equipment such as Caterpillar (CAT – Cramer’s Take – Stockpickr – Rating) and Terex (TEX – Cramer’s Take – Stockpickr – Rating).
The two stocks have rallied more than 50% and threefold, respectively, over the past two years on the [...]
Caterpillar profit tops estimates
Caterpillar Inc. reported better-than-expected quarterly earnings on Friday and raised its outlook, saying “exceptional growth” overseas offset weakness in the U.S. residential housing and truck engine markets.
Shares of the manufacturer of heavy construction and mining equipment surged 4.6 percent and gave the overall market a boost.
Finning Announces C$100 Million Truck Sale to Albian Sands
Finning International Inc. announced today that its Canadian division has secured a major mining equipment sale of 19 new Caterpillar 797B mining trucks valued at over C$100 million to Albian Sands Energy Inc. for operation in the Alberta oil sands.
Of the 19 – 400 ton trucks, 16 will be placed into service at the [...]
