Larsen & Toubro’s Minerals & Metals business vertical has won multiple large orders in India, the engineering conglomerate announced today. The company secured a contract from Hindalco to construct a 180,000 tonnes per annum aluminium smelter and Gas Treatment Centre for a greenfield project in Odisha. The smelter work covers civil and structural works, supply and erection, while the GTC project involves complete engineering, procurement, construction and plant installation. L&T also bagged an order from Ta ...

Sandvik’s shares rose to a record on higher-than-expected third-quarter orders as a rally in gold and copper prices drove demand for mining equipment and services https://t.co/HKohxltACv ...

Caterpillar has signed an agreement to acquire RPMGlobal Holdings, an Australian-based software company, to enhance its mining technology solutions. Financial details of the deal have not been disclosed. RPMGlobal, headquartered in Brisbane, provides mining software solutions and has been operational since 1977. Caterpillar stated that this acquisition aligns with its focus on solving customer needs and enhancing mine-site operations. RPMGlobal provides data-driven software solutions across the mining ...

Sandvik has secured an underground mining equipment order from Zimplats, Zimbabwe's platinum group metals producer, for deployment at the Ngezi mines complex. The contract, valued at around Skr280m, was recorded in the third quarter of 2025 (Q3 2025). The order covers a fleet of loaders, trucks and drills, specifically 12 Toro LH209L loaders; six Sandvik DD211L development jumbos; five Sandvik DS211L-V bolters; three Toro TH545i trucks; and two Sandvik TH430L trucks. Delivery of all the equipment is sch ...

(Bloomberg) --   Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. Tega Industries Ltd. has agreed to buy control of Omaha-based mining equipment maker Molycop at an enterprise valuation of $1.5 billion, making it the biggest US deal by an Indian company in three years. The Kolkata-based manufacturer of mining and mineral processing gears will acquire the American Industrial Partners-affiliate in consortium with fu ...

Tega agrees to acquire control of Omaha-based mining equipment maker Molycop at an enterprise valuation of $1.5 billion https://t.co/6nTaCvzG25 ...

Core Insights - FLSmidth has secured a significant order from a major Indian miner and steelmaker for advanced mining technologies, marking the fourth consecutive order within nine months [1][2] - The order includes the world's largest filtered tailings system and high-rate thickeners, which are set to enhance the efficiency and sustainability of iron ore beneficiation [1][2] - The technologies are expected to be delivered in 2026, contributing to the establishment of one of the largest and most efficient iron ore beneficiation plants globally [1][3] Technology and Sustainability - The integration of these technologies emphasizes FLS's commitment to sustainability, particularly in water recovery and resource conservation [2] - The strategic order reflects FLS's position as a preferred technology provider for operational efficiency in the mining sector [2][3] - The plant is anticipated to deliver significant sustainability benefits, including reductions in energy and water usage [3] Company Overview - FLSmidth is a comprehensive technology and service supplier for the global mining industry, focusing on performance improvement, cost reduction, and environmental impact mitigation [4] - The company aims for zero emissions in mining by 2030 as part of its MissionZero sustainability ambition [4] - FLSmidth is committed to becoming carbon neutral in its operations by 2030, aligning with validated Science-Based Targets [4]

Investment Rating - The report maintains a "BUY" rating for SANY International, indicating a potential return of over 15% over the next 12 months [1][26]. Core Views - SANY International is expected to return to a growth trajectory in 2025, driven by stabilized demand for road headers, strong growth in large-size port equipment, and better-than-expected domestic mining truck sales, which will offset weak sales of combined coal mining units [1]. - The emerging business segments are projected to incur manageable losses of approximately RMB 200-250 million in 2025, alleviating market concerns [1]. - The target price has been revised up to HK$8.70, reflecting a 40.8% upside from the current price of HK$6.18, with an unchanged multiple of 11x 2025E P/E [3]. Financial Summary - Revenue is projected to grow from RMB 20,278 million in FY23A to RMB 25,396 million in FY25E, representing a year-on-year growth of 15.9% [2]. - Adjusted net profit is expected to increase from RMB 1,929 million in FY23A to RMB 2,243.8 million in FY25E, with a year-on-year growth of 21.3% [2]. - The P/E ratio is forecasted to decrease from 9.3x in FY23A to 8.1x in FY25E, indicating an attractive valuation [2]. Revenue Breakdown - Revenue from road headers is expected to increase by 5.0% in 2025E, while large-size port machinery revenue is projected to surge by 20.0% [17]. - Domestic wide-body truck sales are anticipated to grow significantly, with a 36% year-on-year increase expected in 1Q25 [9]. - Large port machinery revenue surged 74% year-on-year in 1Q25, with expectations for further acceleration in 2Q25 [9]. Share Performance - The stock has shown a 26.9% increase over the past three months and a 27.2% increase over the past six months [5]. - The current market capitalization is approximately HK$19.86 billion, with an average turnover of HK$34.8 million over the last three months [3]. Shareholding Structure - Sany Heavy Equipment holds a 66.4% stake in SANY International, with a free float of 33.9% [4].

Investment Rating - The report upgrades FLSmidth to a Buy rating from Neutral, with a 12-month price target increased to DKK 430 from DKK 340, indicating an upside potential of 17.9% [1]. Core Insights - The report highlights that FLSmidth is expected to improve its margins by +320 basis points to 14.2% by 2027, driven by SG&A savings and a higher mix of service and PCV [1]. - The current EV/EBIT multiple of 9.9x is below its 10-year median of 11.5x, suggesting a re-rating is warranted as the company enhances its margin prospects [1]. - FLSmidth is in exclusive negotiations to divest its Cement business, which could act as a catalyst for a re-rating as it transitions to a pure-play mining business [1]. - The company anticipates a gradual increase in orders, forecasting group orders to be +0.3%/+0.7%/+1.8% above consensus for FY25/26/27 [1]. Financial Projections - Revenue projections for FLSmidth are DKK 20,187 million for FY24, DKK 18,683.9 million for FY25, DKK 19,341.2 million for FY26, and DKK 20,269.9 million for FY27 [2]. - Adjusted EBIT estimates are projected to be DKK 1,998.5 million for FY24, DKK 2,271.3 million for FY25, DKK 2,419.7 million for FY26, and DKK 2,642.5 million for FY27 [2]. - EPS is expected to grow from DKK 22.51 in FY24 to DKK 32.50 in FY27, reflecting a positive growth trajectory [2]. Valuation Metrics - The report provides various valuation ratios, including a P/E ratio of 15.3x for FY24, decreasing to 11.2x by FY27, indicating an attractive valuation as earnings grow [7]. - The dividend yield is projected to increase from 2.3% in FY24 to 3.6% in FY27, suggesting a commitment to returning capital to shareholders [7]. - The report notes a low net debt to EBITDA ratio of 0.2x for FY25, indicating a strong balance sheet position [7]. Market Position and Strategy - FLSmidth is positioned as a leader in the mining equipment sector, with a focus on enhancing its service offerings and operational efficiency [13]. - The company aims to close the margin gap with its mining equipment peers, which trade at an average EV/EBIT multiple of 14.35x [1]. - The transition to a service-based business model is expected to support higher margins and improved returns on invested capital (ROIC) [33][39].

Core Insights - A progressive Indian miner and steelmaker has chosen FLS to supply a comprehensive flotation technology package for a new iron ore beneficiation plant, which is expected to be one of the largest and most efficient globally [1] - The plant will utilize domestic low-grade iron ore, which will be upgraded to a high-purity final product using FLS flotation systems [1] Group 1: Technology and Performance - FLS conducted extensive laboratory and on-site pilot testing to develop a beneficiation flowsheet that ensures high metallurgical performance and operational flexibility [2] - The selected technology includes FLS nextSTEP™ flotation cells, equipped with mechanical and process condition monitoring, along with KREBS millMAX pumps for froth and slurry transport [2] Group 2: Customer Relationship and Orders - This order marks the third consecutive purchase from the customer within six months, with the iron ore being processed from 18 vertical tower mills ordered from FLS for Q1 2025 [3] - The customer also ordered two high-pressure grinding rolls (HPGRs) from FLS in Q4 2024, along with additional KREBS pumps and hydrocyclones for the grinding circuits [3] Group 3: Installation Timeline and Impact - All FLS technologies are expected to be installed and commissioned during 2026/2027 [4] - The CEO of FLS emphasized the significance of this order as a testament to strong customer relations and confidence in FLS's market-leading technologies, which will lead to reductions in energy, water, and grinding media consumption [5] Group 4: Order Details - The order was booked in Q2 2025, although the value of the order has not been disclosed [6]