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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Caterpillar is building on its Bucyrus acquisition with the recent signing of another contract to deliver an automated longwall plow system to Chinese company Gasification Co, part of Lvliang Dongyi Group. The system marks the 11th plow system from DBT/Bucyrus/Caterpillar for delivery to Chinese mines. The system will be delivered in the first quarter of 2013 and will go to work in the Xinyan mine in Shanxi province. The system will mine a metallurgical coal seam with a height of 1 to 1.2 m (39 to 47 in), and the face length will be 240 m. (more…)
