Rio Tinto back on track to haul iron ore in driverless trains in 2018

Rio Tinto (ASX, LON:RIO), the world No.2 iron ore miner, is closer than ever to having a network of driverless trains in Western Australia as it has completed its first long-haul journey with a completely autonomous locomotive. The milestone trip, spanning nearly 100 km (60 miles) with trains operated by individuals in an air-conditioned control room[…]

Caterpillar in search of new CFO as Halverson to retire next year

World’s largest mining and construction equipment maker Caterpillar (NYSE:CAT) announced Tuesday that its chief financial officer Brad Halverson would retire in early 2018, after spending nearly three decades with company. Halverson, who joined the Peoria, Illinois-based company in 1988 as an accountant, has also served as CAT’s group president since January 2013. “Brad assumed the CFO[…]

Caterpillar earnings beat estimates, shares hit five-year high

Shares in the world’s largest mining and construction equipment maker Caterpillar (NYSE:CAT) jumped Tuesday, touching a five-year high in early trading, as the company posted better than expected earnings for the second quarter and bulldozed its way to another outlook upgrade. Second-quarter revenues were up nearly $1 billion from a year ago, with earnings per[…]

Luxembourg shoots for the stars with fresh space mining deal

Luxembourg seems to be in a rush to achieve its goal of becoming Europe’s hub for space mining, as it announced Monday a deal with a newly created company specializing in geolocation services and developing space infrastructure. Kleos Space, 100% owned by UK-based Magna Parva, is one of dozens of firms to have either settled[…]

New method for cleaning coal could help determine economic viability of coal projects

A new method for cleaning metallurgical coal to verify coal quality for coke making could replace a widely-used chemical-based process leading to a more accurate assessment of the economic viability of coal projects. This month, the Canadian Carbonization Research Association (CCRA) and Geoscience BC will launch a research project to assess the effectiveness of an[…]

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[…]