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[…]

The world’s largest miner wants more action on carbon capture

BHP Billiton (ASX:BHP), the world’s largest mining company, is urging governments to provide more support to the industry for developing carbon capture and storage (CCS) projects. The company’s vice president of sustainability & climate change, Fiona Wild, said BHP sees such initiatives as an effective way to reduce global emissions, meet climate targets and support[…]

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[…]

Coal-fired power plant in India makes baking soda out of carbon dioxide

A fertilizer manufacturing company from the southern Indian city of Tuticorin has begun capturing carbon dioxide (CO2) emitted from its coal-powered plant and using it to make baking soda. System uses a new proprietary solvent that is reportedly slightly more efficient than those used conventionally, requiring less energy and smaller equipment. The ground-breaking method, developed by Carbon[…]

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.[…]

Luxembourg shoots for the stars, invests $28 million in Planetary Resources

Artist’s rendition courtesy of NASA. Luxembourg is stepping up efforts to become Europe’s centre for space mining by buying a major stake in US-based asteroid miner Planetary Resources in a deal worth $28 million (€25 million) in investments. The funding, which includes a direct investment of €12 million and grants for €13 million from the country’s government and[…]

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[…]