Caterpillar soars as first quarter sales jump for first time in over two years

Shares in world’s largest heavy machinery maker Caterpillar (NYSE:CAT) jumped Tuesday as it reported a first quarter profit that far exceeded estimates thanks to a long-awaited pick up in sales and improved demand. For the first time in more than two years, the Peoria, Illinois-based company registered an increase in sales in several of the[…]

Mining industry leaders meet again at PDAC 2017

The Prospectors & Developers Association of Canada’s (PDAC) International Convention, one of the world’s leading minerals and mining events, kicked off Sunday amid increased optimism in the global industry. Now in its 85th year, this annual event brings together the industry from around the world to downtown Toronto. More than 22,000 attendees from 125 countries were[…]

CAT shares hammered as feds search offices

Shares in Caterpillar (NYSE:CAT), the world’s No.1 heavy machinery maker, were down more than 5% Thursday around noon after it became public that officials were executing a search warrant at three of the companies’ facilities in the Tri-County Area, including the corporate headquarters. Some of the agents spotted by local press and witnesses wore jackets[…]

Here’s what miners should expect and do in 2017

Los Bronces copper mine in Chile. (Image courtesy of Anglo American | Flickr.) Global miners, particularly Canadians, are showing increasing signs of optimism as commodity prices are on the rise, shallow growth is returning to different end markets, and most are in better cost positions than in the recent past, the annual “Tracking the Trends” report[…]

Mining production increases spell good news for suppliers

For companies servicing the mining sector, project opportunities have declined significantly in the past few years. But, with production increasing, the opportunities presented by operating mines are growing. The decline in project opportunities is in line with the decline in capital expenditure in mining and oil-and-gas, as shown in the following graph. (Separate figures for[…]

Canada's gold miners to embrace green energy to control costs

Canadian gold miners are expected to adopt even more alternative energy this year as the sector continues to focus on paring down costs to remain competitive in a volatile gold price environment, a new report suggests. According to BMI Research, declining ore grades will drive Canadian gold miners costs higher, pushing companies to find fresh[…]

Canada’s Goldcorp to make Borden an all-electric mine

Canada’s Goldcorp (TSX:G) (NYSE:GG) believes the days of diesel fuel use on mine sites are numbered as the world’s-fourth gold producer by output steps up efforts to build its Borden mine, the company’s first fully-electric operation. The Borden underground mine will use an electricity and battery-powered underground fleet, which is expected to eliminate all greenhouse gases associated[…]

CAT and Trimble to strengthen mining technology collaboration

Caterpillar (NYSE:CAT), the world’s No.1 heavy machinery maker, and software developer Trimble said Friday they are extending their collaboration to bring mining customers improved operational decision-making capabilities. The agreement falls within the framework of an already established relationship between the companies aimed to transform the way mines manage their business, California-based Trimble said in a statement.[…]

Caterpillar axes sales forecast, warns factors depressing orders could linger

Shares in world’s largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, were slightly down in pre-market trading Tuesday after the firm’s reported revenue that fell short of estimates and lowered its full-year guidance. The Peoria, Illinois-based reported earnings, adjusted for non-recurring costs, of 85 cents per share on revenue of[…]

Caterpillar rally hindered by fresh drop in sales

Shares in world’s largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, suffered Monday morning after the firm logged a 18% drop in global retail sales of equipment for the three-month period ended in September. While the Peoria, Illinois-based company has had more discussions about potential sales in recent months than[…]