Caterpillar to present more than machines at MINExpo 2016
Caterpillar will support MINExpo 2016 with an exhibit showcasing machines, technology, expertise and practical knowledge that miners can apply to help address their cost, productivity and efficiency challenges in today’s mining environment.
Though Cat® machines—for both surface and underground mining—will fill the view, the talk will focus on how Cat technology and know-how combines to help mining operations address and solve the issues that are most important to them. The main stage in the exhibit will feature presentations describing how mining companies, Cat dealers and Caterpillar work together to improve operations.
“The challenge for all in the mining industry now is to optimize operations—to drive costs down while creating sustainable businesses that can weather downturns,” says Caterpillar Resource Industries Group President Denise Johnson.
“We believe that through our expertise and the knowledge of our dealers—combined with innovative technologies and our growing data analysis capabilities—we can help them not only survive, but thrive in these challenging times.”
Johnson was recently selected by the National Mining Association (NMA) to chair MINExpo 2016.
“Chairing this show is a great honor, and it’s a testament to Caterpillar’s partnership with this critical industry,” she says. “We’re proud to be a long-time supporter of the NMA, and we are excited to participate in another MINExpo. It’s an opportunity for us all to learn from each other how to increase productivity, control costs and improve overall operations.”
In addition to displays of its surface and underground mining equipment, Caterpillar will dedicate areas to technology, data analytics, equipment life-cycle management and the global Cat dealer network.
“At our core, we’re committed to making quality products that are safe and reliable,” says Johnson. “But we also recognize that the step-change results our customers need don’t rely solely on the machines. In the ‘age of smart iron’ it’s technology, data and automation that will be the game-changer. And when we combine this with a focus on site performance, analytics and knowledge-partnering with our customers, we’ll deliver the sustainable efficiencies our customers need today, and in the future.”
For more details about the full line of Cat mining products and services, visit Caterpillar at booth 6229 in the Central Hall during MINExpo 2016, September 26-28, at the Las Vegas, Nevada, Convention Center.
Read the July issue of Mining Global Magazine!
Be sure to follow @MiningGlobal for news and latest updates.
Copper, iron ore surge as Chinese investors unleash demand
The reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a tonne for the first time since 2011 on Thursday.
In the wake of mounting evidence of inflation fuelled by higher raw materials prices, investors are also increasingly focused on when the U.S. Federal Reserve might start throttling back its emergency support.
Many banks say the rally has further to run, particularly for copper, which will benefit from rising investment in new energy sectors. Copper is at the highest in a decade, fueling bets it will rally further to take out the record set in February 2011. Steel demand is surging as economies chart a path back to growth just as the world’s biggest miners have been hampered by operational issues, tightening ore supply.
“The long-term prospects for metals prices are ‘too good’ and point to higher prices in the next few years,” said Commerzbank AG analyst Daniel Briesemann. “The decarbonization trends in many countries, which include switching to electric vehicles and expanding wind and solar power, are likely to generate additional demand for metals.”
Trading house Trafigura Group and several major Wall Street banks including Goldman Sachs Group Inc. and Bank of America Corp. expect copper to extend gains.
Copper rose as much as 1.6% to $10,108.50 a ton on the London Metal Exchange before trading at $10,080 as of 4:07 p.m. in London.
Benchmark spot iron ore prices rose to a record, while futures in Singapore and China climbed.
The boom comes as China’s steelmakers keep output rates above 1 billion tons a year, despite a swath of production curbs aimed at reducing carbon emissions and reining in supply. Instead, those measures have boosted steel prices and profitability at mills, allowing them to better accommodate higher iron ore costs.
Spot iron ore with 62% content hit $201.15 a ton on Thursday, according to Mysteel. Futures in Singapore jumped as much as 5.1% to $196.40 a ton, the highest since contracts were launched in 2013. In Dalian, prices closed 8.8% higher.
Erik Hedborg, Principal Analyst, Steel at CRU Group commented: “Recent production cuts in Tangshan have boosted demand for higher-quality ore and prompted mills to build iron ore inventories as their margins are on the rise. Iron ore producers are enjoying exceptionally high margins as well, around two thirds of seaborne supply only require prices of $50 /dmt to break even.”
Still, some analysts including Commerzbank’s Briesemann expect a short-term correction as metals become detached from fundamentals. There’s also a risk that China could engage in policies that may cool demand for iron ore and copper.
The metals rally has boosted concerns about short-term Chinese demand. Some manufacturers and end-users have been slowing production or pushing back delivery times after costs surged, while weaker-than-expected domestic consumption has opened the arbitrage window for exports.
Tin climbed as much as 2% to $30,280 a ton on the LME, boosted by rising orders for the soldering metal. Tin is at the highest since May 2011, with a 48% gain this year making it the best performing metal on the LME.