US lobbied Greenland rare earths developer Tanbreez not to sell to China
President-elect Trump has expressed interest in taking control of the island.
Caterpillar is getting ready to fire more employees, adding to a job-cutting rampage which started late last year.
This week the machinery giant sent letters to white collar workers across the US, advising them that their jobs are under the axe, the Herald-Review reports.
The company wouldn’t comment on numbers but said employees in “support and management” would be affected.
Meanwhile, the firm is wringing its hands over a potential $650 million loan from the US Export-Import Bank. Minnesota and Michigan mining interests are lobbying to block the loan, which would help a miner buy CAT machines for an iron ore project in Australia.
Earlier this year the firm recorded a second successive quarterly loss, with a 43.5% drop in earnings.
Creative Commons image by: Dionisius Purba
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Those so called mining interests promised thousands of jobs to people in their states and created literally nothing yet they try to screw recently laid off Cat employees wanting to return to work on a project that will be financed anyways. The AU mine will build these trucks in China with a loan from China if the US fails to give them the loan. Either way the Mines will lose out on the massive Hauls of this AU company mining Iron Ore. If the loan goes through at least they stand to make money off of US iron ore to build Caterpillar trucks and it will guarantee Cat employees and their families many years of work.