Metso has denied recent reports of a merger between it and the mining business of Sandvik, releasing a statement confirming its position on August 19. The initial report alleging a tie-in between it and the Swedish equipment producer came from Swedish news outlet Dagens Industri. “Market rumors have been made public regarding Metso and Swedish Sandvik’s mining business. Metso has…
Read MoreDay: September 3, 2024
Goodyear to sell off-the-road tire unit to Yokohama
U.S.-based Goodyear Tire & Rubber Co. has signed a definitive agreement to sell its off-the-road (OTR) tire business to the Yokohama Rubber Co. for $905 million in cash. The transaction follows a previously announced strategic review of the OTR tire business in connection with the Goodyear Forward transformation plan. “The sale of the OTR business marks an important milestone as…
Read MoreMintak retiring, Park taking over at Standard Lithium
September 1 will be a day of transition for the executive cabinet at Canadian miner Standard Lithium: it is the effective date of the retirement of CEO Robert Mintak and the start date for his replacement, David Park. In a transition that it said aligns with the company’s growth strategy and next steps in value creation, Standard confirmed Mintak will…
Read MoreGold Fields buys Osisko Mining
South African-based Gold Fields has agreed to acquire Canadian miner Osisko Mining for C$2.16 billion ($1.57 billion), reported Reuters. The cash deal will help Gold Fields expand its presence in the Americas region, where it already has mines in Chile and Peru. Gold Fields said Osisko’s projects in Quebec would also help it “firmly solidify” its footprint in one of…
Read MoreGlencore foregoes coal spinoff
Glencore said it will not spin off its coal business after securing backing from the majority of its investors, according to Reuters. The miner had been debating on whether to keep the coal assets or spin them off after it purchased the majority of Teck Resources’ steelmaking coal business in July. Retaining the coal assets “offers the lowest risk pathway…
Read MoreSwitching gears
At the risk of sounding cliché, this year seems to have flown by. If you are one of the many readers of NAM taking in this column in Las Vegas for MINExpo International 2024, this serves as your reminder that the final quarter of the calendar year starts the week following the show. Time for projects to tie up loose…
Read MoreMovex Innovation showcasing Minidozers at MINExpo
Movex Innovation has announced its participation in MINExpo 2024 with its line that addresses critical worker safety and throughput challenges for mines, quarries and smelters. Those visiting Booth 2235 in North Hall will witness firsthand the groundbreaking capabilities of the Minidozer 27” and Minidozer 48” ultra-compact mini loaders for mines and quarries and the lineup of MINIDOZERs for aluminum smelters.…
Read MoreTsurumi Pump to appear at MINExpo
Tsurumi Pump (West Hall #12155) plays a vital role in various environments where increased reliability and safety is paramount. Engineered to withstand harsh conditions, Tsurumi’s durable pumps excel in dewatering mines, quarries and pits, ensuring uninterrupted functionality. In mines, these pumps often handle high volumes of water containing abrasive particles. Tsurumi’s pumps are designed to meet these challenges, featuring continuous…
Read MoreVale selects Pimenta as CEO
Vale recently announced Gustavo Pimenta as the company’s next CEO. The executive was unanimously elected by the board of directors, after a rigorous selection process supported by an international headhunting company, in compliance with Vale’s bylaws, corporate policies, the board’s internal regulations and applicable legislation. Pimenta is an executive with global experience in the financial, energy and mining sectors, and…
Read MoreCaterpillar expands Indiana large engine facility
An estimated 100 jobs will be added following an expansion of Caterpillar’s large engine facility in Lafayette, Ind., that was taken on to further meet growing customer demand. The multi-year capital investment will increase capacity for both new engines and aftermarket parts, the OEM said, and also allow it to expand its ability to build and test new engines, genset…
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