PEORIA, Ill. and ADELAIDE, S.A., 22nd February 2018 – Caterpillar Inc. (NYSE: CAT), the world’s leading supplier of mining equipment, and Minetec, an innovative mining technology company, today announce a new agreement that will integrate Minetec’s proprietary technology into the Caterpillar technology solution, MineStar®.
Minetec, a wholly owned subsidiary of Codan Limited (ASX: CDA), has entered into a global licensing and technology development agreement with Caterpillar. Under the terms of this agreement, Caterpillar and Minetec will collaborate to expand and develop the Caterpillar Minestar® technology solution for underground and surface mining operations.
Minetec’s proprietary products including SMARTS™ task management, TRAX™ high precision tracking and wireless communications and SafeDetect™ proximity detection, will be integrated into an expanded MineStar® technology solution. These capabilities will be integrated with Caterpillar’s FLEET assignment engine, HEALTH data analytics and COMMAND autonomus operations. This combination of unique technologies will transform safety and productivity solutions offered for underground mining.
Caterpillar and Minetec are also pleased to announce that Newmont Mining Corporation (NYSE: NEM) intends to collaborate on this development and host the intregated technology solution at their Tanami Operations (Northern Territory, Australia). Newmont will contribute to the development of the technology roadmap for the expanded MineStar® solution, providing valuable operational input from underground hard-rock mining operations.
This strategic partnership recognises the state-of-the-art proprietary technology developed by Minetec since its acquisition by Codan in 2013.
Codan is a technology company that provides robust technology solutions that solve customers’ communications, safety, security and productivity problems in some of the harshest environments around the world. Our customers include United Nations organisations, mining companies, security and military groups, government departments, major corporates as well as individual consumers and small-scale miners.
For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2017 sales and revenues of $45.5 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Construction Industries, Resource Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment.
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015 and 2016. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.
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