Category: Mining Equipment

State-owned asset management firm, the Public Investment Corporation (PIC), which holds a 21.97% stake in industrial equipment and services company Barloworld, has confirmed voting against the proposed takeover of the company at R123.10 per share. The PIC also exercised its right to vote against board members up for re-election at Barloworld’s Annual General Meeting (AGM) on February 21. In a statement, the PIC emphasized its mandate to generate value and financial returns for its clients while ensuring positive socioeconomic outcomes. While acknowledging that the offer price represented a premium within… Read More Here

Caterpillar Inc. shares fell the most in three months after the heavy equipment maker warned that revenues will be “slightly lower” in 2025 with demand concerns weighing on its outlook. The stock fell as much as 5.1% as of 9:31 a.m. in New York, its biggest intraday decline since the end of October. Caterpillar’s guidance, disclosed with its fourth-quarter earnings report, arrives at a tenuous time for global manufacturers, given the tariff threats by US President Donald Trump that could drive up costs and affect supply chains worldwide. The warning… Read More Here

NYSE-listed Caterpillar is celebrating its 100-year anniversary in 2025, marking a century since the merger of Holt Manufacturing and CL Best Tractor on April 15, 1925, which formed Caterpillar Tractor Co. Over the past 100 years, Caterpillar has evolved from its first track-type tractor, designed to pull combine harvesters in northern California, to offering modern autonomous construction and mining equipment, as well as engines used in various industries worldwide. Caterpillar products and services have played a significant role in completing thousands of industrial, construction, and infrastructure projects globally. “Our success… Read More Here

Australian technology, energy, and metals group Fortescue Metals has received A$10 million in funding from the Australian Renewable Energy Agency (ARENA) to advance the development of a 6 MW fast charger. This funding will support Fortescue’s efforts to deploy fast-charging technology capable of powering battery-electric heavy mining equipment. The project will involve designing, constructing, and validating several test-unit chargers, with the aim of launching the first production 6 MW charger by the end of 2025. Developed by Fortescue Zero, the company’s dedicated renewable-energy division, the 6 MW fast charger will… Read More Here

BHP Group said it plans to test US-based equipment manufacturer Caterpillar’s new technology, which transfers energy to diesel-electric and battery-electric large mining trucks while they are working on a mine site. Caterpillar launched its Cat Dynamic Energy Transfer (DET) system earlier this month, saying that the use of this technology would lead to lower operating costs for miners and a reduction in greenhouse gas emissions. The DET system can also charge the batteries of electric trucks while they are under operation, providing extra speed and upgraded efficiency. Mining giant BHP… Read More Here

IRVING, Texas, September 19, 2024 – Caterpillar Inc. (NYSE: CAT) is reinforcing its commitment to deliver product design choices in alignment with customers’ operational, sustainability and productivity goals that increase the value of a machine throughout its lifetime. These designs align with Caterpillar’s strategy to deliver integrated site solutions to support customers today and through the energy transition. As the industry looks to the future, Caterpillar is purposefully designing a modular Cat® 793 large mining truck platform with powertrain flexibility. This platform will include diesel mechanical, diesel electric and battery… Read More Here