Mining through a slump, Joy Global seeks technologies, new markets

From the company headquarters in Milwaukee, Joy Global Inc. executives can monitor an underground mining machine operating on the other side of the world, and they have a clear view of the slump that has engulfed their industry for nearly four years.

The length of the downturn, which has resulted in the loss of thousands of jobs at mining equipment manufacturers and their suppliers, is unprecedented, said Joy Global president and CEO Edward "Ted" Doheny.

Mine operators have slashed spending on new machines as commodity prices remain weak...

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