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Vale, Caterpillar set to expand autonomous mining operation

Caterpillar and Vale have signed an agreement to expand the fleet of autonomous haul trucks at Vale's Carajás iron ore operations in Brazil. The fleet will grow from 14 to 90 trucks by 2028, using CAT's MineStar Command technology. This expansion aims to enhance safety and efficiency by removing workers from hazardous areas, representing a significant advancement in autonomous mining operations.

Electrek·
US
VALE
+0.56%
US
CAT
-4.43%
Electrek·
US
VALE
+0.56%
US
CAT
-4.43%

Key facts: Rio Tinto faces smelter closure; shares drop; seeks Colombia exploration

Rio Tinto's Tomago aluminium smelter, with a 52% stake, may close due to energy supply issues. The Australian government plans a $670 million rescue to secure jobs and operations.123Shares of Rio Tinto fell approximately 3% as copper prices declined by 3.5% to $11,415 a metric ton, amid concerns over a potential AI bubble burst that triggered a sell-off in riskier assets.4Rio Tinto is working to secure its qualification for Colombia's upcoming exploration round, which will provide 14 areas for copper, gold, and polymetallic production and exploration.5

TradingView·
US
RTPPF
-0.37%
US
RIO
-1.41%
UK
RIO
0.00%
TradingView·
US
RTPPF
-0.37%
US
RIO
-1.41%
UK
RIO
0.00%

Colombia to offer 14 areas for copper production and exploration

Colombia will offer 14 areas for copper production and exploration, with at least eight companies qualified for the upcoming round. The areas are located in Antioquia, Cesar, La Guajira, and Tolima. Canadian firm Aris Mining is already qualified, while Rio Tinto is in the process of securing qualification. The round will launch next Monday, as announced by the National Mining Agency.

Reuters·
US
RIO
-1.41%
US
ARMN
+2.81%
UK
RIO
0.00%
Reuters·
US
RIO
-1.41%
US
ARMN
+2.81%
UK
RIO
0.00%

Steel Dynamics files for debt shelf offering, size not disclosed

Steel Dynamics files for debt shelf offering, size not disclosed

marketscreener·
US
STLD
-0.60%
marketscreener·
US
STLD
-0.60%

BUZZ-Copper miners dive as AI bubble fears hit

Shares of copper miners fall, tracking lower prices of the red metal (MET/) Benchmark copper (CMCU3) on the London Metal Exchange down 3.5% to $11,415 a metric ton Copper prices plunge after hitting a record high earlier in the session, as renewed fears of the AI bubble bursting sparked a broad sell-off of riskier assetsGlobal mining giants Rio Tintoand BHP Groupdip ~3% eachSouthern Copperdown ~3% and Freeport-McMoRanfalls 1.3%Canada’s Hudbay Minerals (HBM.TO) down 1.6%, Teck Resources (TECKb.TO) falls 5.2% and Ero Copper (ERO.TO) fall ~4%

Reuters·
US
ERO
-2.62%
US
HBM
+0.32%
US
RIO
-1.41%
Reuters·
US
ERO
-2.62%
US
HBM
+0.32%
US
RIO
-1.41%
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