Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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With a long-term view toward enhancing support for mining customers, Caterpillar announced plans on Friday to build a mining truck facility in Indonesia and to invest to increase capacity at the company’s large mining truck facility and large track-type tractor facility in the USA. The new mining truck facility is planned for Batam, Indonesia. A range of mining truck chassis and bodies will be produced at the new facility and will be shipped to customers throughout Asia\Pacific. The company plans to invest about $150 million in the new facility, which is expected to be operational in 2012 for truck bodies, with the first trucks produced in the third quarter of 2013. (more…)
