The demand for metals and minerals of all kinds is pushing up sales and profits in the makers of the equipment used to extract the commodities.
Joy Global’s CEO told the Financial Times that the equipment maker is “entering the earlier stages of another multiyear expansion of the industry.” Miners including BHP Billiton Ltd. (NYSE: BHP), Vale SA (NYSE: VALE), Rio Tinto plc (NYSE: RIO), Xstrata plc (OTC: XSRAY), and Anglo American plc (OTC: AAUKY) expect to invest as much as $120 billion in 2011 to boost production.
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