Caterpillar’s recent announcement that that have attained a 500% surge in quartely profits will stand as good news for the metal and mining industries, especially after the company raised its forecasts for the rest of the year in light of the new figures.

The company is the world’s largest manufacturer of earth moving equipment and their products are utilised by mining companies the world over. The company’s revenue has risen 57.2% to more than £7.8 billion.

Demand for their equipment has seen a steep rise thanks to the demands of the mining industry in China, Canada, Africa, Brazil, India, United States and Europe.