Caterpillar Inc. announced fourth-quarter and full-year results for 2023. Sales and revenues for the fourth quarter of 2023 were $17.1 billion, a 3% increase compared with $16.6 billion in the fourth quarter of 2022. Operating profit margin was 18.4% for the fourth quarter of 2023, compared with 10.1% for the fourth quarter of 2022. Adjusted operating profit margin was 18.9%…
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Eriez announced the inauguration of its cutting-edge Research and Development hub, Eriez at sbarc, located at Cardiff University in Wales. This strategic partnership with Cardiff Innovations underscores its dedication to fostering innovation and expanding its Research and Development initiatives. Eriez’ Wales-based R&D team now operate primarily from this new, state-of-the-art facility. Eriez’ history of working with Cardiff University began when…
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Sandvik has completed its acquisition of German-based pro-micron, a supplier of sensorised tools and automation software. pro-micron’s offering for diagnostics and process monitoring help reduce production errors and increase automation for customers within areas like solid round tools machining. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. Founded in 2002, pro-micron has…
Read MoreTo support its long-term growth ambitions, FLSmidth has announced a business line for pumps, cyclones and valves (PCV) that will be led by Pat Turner, former North American Region president. “While our PCV business has delivered strong growth in recent years, it still holds significant untapped potential,” said Group CEO Mikko Keto, noting that PCV is a key strategic focus…
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A new standard from the Global Reporting Initiative (GRI) focuses on the sustainability impacts of the mining sector. GRI 14: Mining Sector 2024 is part of the organization’s Sector Standard series and reflects broad stakeholder demands for transparency. “From a sustainability standpoint, the position of mining is complex, in that it is both part of the solution and the problem.…
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Equipment maker Sandvik said it will be cutting 1,100 as part of a cost-saving restructuring effort. The company, which said it will also be consolidating production units and optimizing its organizational structure, said orders from majors were at a good level but it had seen a decrease in business from smaller operators as well as from the infrastructure market. The…
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Air-core motor creator Infinitim and U.S. miner Alliance Resource Partners’ (ARLP) Matrix Design Group have inked a deal to jointly develop and distribute high-efficiency and reliable motor and advanced motor controllers specifically for mining. Under the agreement, Matrix will integrate Infinitum’s smaller, lighter motor technology into mining equipment of ARLP’s operating subsidiaries to provide performance validation in production environments for…
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Strata Worldwide has signed equity partnership and global distribution agreements with Australia-based industrial network and cybersecurity innovator Vernetzen. The partnership will expand Strata’s range of offerings that are specifically designed for underground mining and tunneling. “Vernetzen provides Strata and our customers a high-end network and Wi-Fi solution that is fit for purpose and designed specifically for our target underground markets,”…
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A study by Rice University researchers found that graphene derived from metallurgical coke could serve not only as a reinforcing additive in cement but also as a replacement for sand in concrete.
Read MoreUnderground mining supplier Paus has signed a memorandum of understanding (MOU) with Australian equipment maker Elquip that will benefit both mining and tunneling. Paus confirmed that, under the new agreement, the two will mutually evaluate and prepare a dealership for the Australian market. It will encompass specializes mobile equipment as well as service and parts. No timeline was provided for…
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