Thursday 2 July 2015
 
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Mining

Caterpillar lays off workers due to mining sector slump

Caterpillar is set to lay off another 50 workers at its East Peoria, Illinois, US, campus because of a downturn in demand for mining equipment, the company said. The latest action brings to 270 the number of workers Caterpillar ha

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Qatar could turn off tap on mining funding after review

An investment review at Qatar's wealth fund could lead to a cut in money allocated to the mining sector, potentially hitting ventures such as QKR Corp, according to five sources familiar with the matter. Such a move would be t

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Iran plans $16bn investment in mineral sector

Iran is planning investments of around $15 billion during its sixth five-year economic development plan (2015-2020) to develop mining projects and raise the production capacity of steel, aluminium and copper industries, a report said.

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Firms from 16 countries to invest in Iran’s mining sector

Several companies from as many as 16 countries are eager to invest in Iran’s mining sector, according to a report. There were many applications for co-operation from German, Danish, Krygyz and Indian companies, besides Oman

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Saudi's Ma'aden registers solid Q1 net profit

Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, reported on Thursday its first-quarter net profit more than doubled year on year, but the earnings still fell short of analysts' forecasts. The company's

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Mining, utilities sink US industrial production

US industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted, highlighting the negative impact of lower crude prices and a strong dollar on the economy. The dour rep

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Egypt awards contract to study major mining project

Italian consultancy D'Appolonia has won a bid to prepare a study on the viability of plans to create new industrial and mining projects in a 6,000-sq-km area extending from the Red Sea cities of Safaga and Al-Qusayr to Eastern Qena in Egypt,

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Iran eyes $2bn investment in seven steel projects

Iran has allotted an investment of over €2 billion ($2.263 billion) on seven new steel projects, said Mohammad Reza Nematzadeh, industries, mines and trade minister of Iran. Speaking at the the inaugural ceremony of the secon

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Egypt set to pass mining, industrial land laws

Egypt will pass laws next week related to mining and the allocation of industrial land as it pursues reforms to attract foreign investors deterred by political turmoil, the investment minister said on Tuesday. But Asharf Salman ga

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Ma'aden spearheading Saudi mining sector growth

The Saudi Arabian Mining Company (Ma'aden) investments have now exceeded SR85 billion ($22.6 billion) making the kingdom a major player in the phosphate and aluminium industry, according to experts. Ma'aden, they stated, w

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