One of the largest manufacturers in the world will hold host its annual meeting later this month with the hopes of holding the attention of countless mining executives from around the world. On Monday, Caterpillar announced it would offer a listen only audio webcast of its annual meeting with financial analysts and institutional shareholders on Monday, Sept. 24, at MINExpo. As reported by The Wall Street Journal, Caterpillar Chairman and CEO Doug Oberhelman and members of the company’s executive office will provide a review of the company’s business and enterprise strategy. Countless companies previously featured in Energy & Mining International have relied on Caterpillar’s products to keep them in operations. Crossrock Inc. is one such company. Crossrock converted a large off-road Caterpiller rock truck to run on liquid natural gas for a client.

The volatile nature of the oil market has been on full display this week as the price of a barrel has ebbed and flowed with various conditions coming into play. As reported by BusinessWeek, the price of oil began to drop as Tropical Storm Isaac came and went without graduating to hurricane status, allowing Gulf of Mexico output to return for the most part. Also bringing the price down was the unemployment situation, with BusinessWeek reporting the U.S. Department of Labor’s jobless claims at 374,000. However, prices rose once again to $113.12 a barrel, according to Reuters, as Fed Chairman Ben Bernanke made a claim that indicate the prospects for more economic stimulus were possible at a meeting in Jackson Hole, Wyo., last Friday.

The latest blog launched by Porter Wright brings together attorneys that specialize in oil and gas industry to offer leaders in the market the latest information on a variety of issues. Oil & Gas Law Report shares inside tips for industry insiders throughout the United States. "The industry boom in oil and gas, particularly in the Midwest, has been incredible. The speed of growth for companies up and down the supply chain has steadily increased – making it difficult to keep up with the rules and regulations that may affect their business," Brett Thornton, Porter Wright’s oil and gas practice group chair and one of the blog's editors, said in a statement. "We have created this blog as a resource to help guide industry players of all sizes stay on top of developments and legal challenges they may face." Oil & Gas Law Report – which joins Porter Wright’s stable of blogs that cover employee benefits, employment law, banking and finance, intellectual property and technology, securities, and nanotechnology – allows visitors to subscribe to subscribe via RSS/XML or email by visiting the blog’s subscription section. Porter Wright Morris & Arthur LLP traces its roots to 1846 in Ohio and now boasts offices in Cincinnati, Cleveland, Columbus and Dayton, Ohio; Washington, D.C.; and Naples, Fla.

With MINExpo less than two months away, Energy & Mining International will run a series of posts leading up to the big show. As reported in the MINExpo section of the summer edition of Energy & Mining International magazine, Gunnebo Johnson Corp. is well under way on production of key components for the Asian Hercules III project, which is a floating sheerleg crane that – when completed – will be one of the largest in Asia. The company announced Friday that it is beginning to ship various components to the job site in Nantong, China, for installation of the heavy lifting components on the ship-mounted crane. U.S. Rep. John Sullivan (R-Okla.) visited Gunnebo Johnson’s Tulsa, Okla., facility. Once completed, Asian Hercules III will feature lifting tackle, including sheaves, blocks and lifting beam sets, designed and manufactured by Gunnebo Johnson over a 24-month timeframe. When completed, the rig will be able to reach up and out more than 500 feet for making marine offshore lifts. "Gunnebo Johnson is a well-established leader in the global rigging and heavy lifting industries, and we are honored to bring our world-class expertise to the Asian Hercules III project," President and CEO of Gunnebo Johnson Craig Aszkler said in a statement. "As we begin shipping components to China, I commend our employees' dedication in providing a high quality product, custom engineering expertise and outstanding customer service.” Gunnebo Johnson isn’t just creating components, however. Its projects also are creating much-needed jobs in the Tulsa area. As reported by The Oklahoman today, Gunnebo Johnson will be hiring more than 50 additional people to help complete the Asian Hercules III project. The report also says Gunnebo Johnson’s portion of the job will cost $10.6 million to complete, and the project has a $450 million overall price tag.

With MINExpo less than two months away, Energy & Mining International will run a series of posts leading up to the big show. MINExpo is a gathering of mining industry insiders looking for solutions to an array of problems. According to a report by Mineweb, Baja Mining and its Boleo copper project in Mexico is way over its initial budgets because of construction cost overruns. Mineweb reports that the project initially forecasted operating costs of approximately $35 per tonne in 2010, but Baja Mining already had warned that this estimate would rise earlier in 2012. According to Mineweb, no one had offered a financing or funding deal, the company could only maintain current levels of spending through Aug. 1, and project operating costs could be closer to $50 to $60 per tonne. The answer may be found at MINExpo with a little networking with foreign nations interested in the resources available in Mexico. As Chris Faulkner of Breitling Oil & Gas describes in his column in the summer edition of Energy & Mining International, a number of major players are entering markets throughout Latin America and the Caribbean to access oil deposits in cash-strapped nations in exchange for providing jobs and much needed infrastructure. Despite working with different resources, the partnerships described in Faulkner’s piece may prove to be a solution for Baja Mining’s impending financial issues.

Check out our latest Edition!

 

Contact Us

Energy and Mining International

150 N. Michigan Ave., Suite 900
Chicago, IL 60601
312.676.1100  312.676.1101

Click here for a full list of contacts.

Latest Edition

Spread The Love

Back To Top