Big loan could mean big business for Caterpillar

By WEEK Producer

December 23, 2013 Updated Dec 23, 2013 at 11:24 PM CDT

WASHINGTON, D.C. -- Caterpillar's Mining Division has been cutting jobs, but a major decision from the US Export /Import bank could mean some positions could return.

A massive new Australian iron ore mine will get a $694 million loan from the Export-Import Bank of the U.S. to buy bulldozers and trucks from Caterpillar, as well as locomotives from General Electric and drilling rigs from Copco.

Caterpillar is expected to get a half-billion dollars in sales as a result of the loan.

The huge Roy Hill Mine, is a $10 billion project headed up by Gina Rinehart, Australia's richest woman.

The Decatur plant --which produces mining trucks --could be a major beneficiary of that loan.