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Caterpillar to spend $50 million expanding Fargo remanufacturing plant, adding 250 workers

Global giant Caterpillar Inc. announced on Monday plans to significantly expand its remanufacturing facility in West Fargo, North Dakota. The increased capacity will help meet the strong demand for remanufactured drive train components for large off-highway trucks and other mining equipment, including final drives, transmissions, torque convertors and steering clutches. The $50 million investment will include a 225,000-square-foot addition that will house increased production capacity for high-tech machining and metal additive processes, as well as a state-of-the-art metallurgical lab. 85-year old Caterpillar boasts annual sales in excess of $40 billion.

SF Diamond rises most since debut after reporting profit gain

SF Diamond Co., a Chinese maker of drill bits and cutting tools, gained the most since its trading debut in Shenzhen more than five months ago after saying first- half profit rose 7 percent from a year earlier. SF Diamond’s first-half earnings report implies a 53 percent increase in second-quarter net income from a year earlier, compared with a 57 percent decline for profit in the first-three months of the year. The company, based in the city of Zhengzhou in central China’s Henan province, said first- quarter profits fell partly due to one-time expenses associated with its listing.

150,000 South Africa coal workers to return to work Tuesday

Workers in South Africa's coal sector are expected to return to their posts on Tuesday after the unions and the SA Chamber of Mines signed a two-year wage agreement, ending an eight-day strike. 150,000 workers at miners Anglo American Thermal Coal, Delmas Coal, Exxaro Coal Mpumalanga, Kangra Coal, Optimum Coal and Xstrata Coal were on strike over wages. Talks with striking workers in the country's gold sector, where 200,000 workers are on strike continued on Monday. Mineworkers are asking for a 14% wage increase – far above the inflation rate in Africa's largest economy which hovers around the 4% level.

Reuters: Ukraine mourns after 37 die in mine accidents

Two separate accidents at mines in Ukraine have claimed the lives of 37 miners, Reuters reported Sunday: Rescue work ended on Sunday at two Ukrainian coal mines where accidents killed 37, and the former Soviet republic held a national day of mourning. An explosion in a mine in the Luhansk region early on Friday killed at least 26 people and injured two, according to an updated report on the Emergencies Ministry website. Also early on Friday, 11 miners died and four were injured at a state-owned mine in the neighbouring Donetsk region when a piece of heavy machinery collapsed.

Foreign investors spooked? India urged to clarify mining position in wake of iron ore scandal

Sunday's resignation of a state-level Indian politician brought down by a fraud scandal related to iron ore exports is likely to shake the confidence of foreign investors in Canada, says a top Indo-Canadian banker. Hari Panday, founder of the ICICI Bank in Canada, urged the Indian government to explain its mining policies to Canada — the "mining guru of world" — as well as to important mining jurisdictions Australia and South Africa.

Let’s get political: Olivia Newton-John raises alarm over fracking near Byron Bay

A grassroots movement opposed to coal-seam gas (CSG) mining got a boost of star power on Saturday, when 70s pop singer Olivia Newton-John panned the controversial practice. The Australian singer, who starred alongside John Travolta in the hit movie-musical Grease, launched a scathing attack on the mining industry after learning several sites near her luxury Byron Bay resort were under threat, The Sunday Telegraph reported. In an open letter to Australians warning about the health effects of hydraulic fracturing, or fracking, Newton-John says she is "horrified to learn of the extensive plans for coal-seam gas and shale gas exploration in Australia." Image of Olivia Newton-John is from Wikimedia, by gdcgraphics.