US mining equipment manufacturer Caterpillar announced that its largest customers are looking for a return to growth in the mining industry in the next 18 months and view the price of copper as a key indicator of a turnaround.

Mr Chris Curfman, president of Caterpillar's global mining division, said:

It's really the copper price that we watch. At USD 2.00, I'd go on a camping trip. But it's got to get up to USD 1.80. Once I see that level I'll feel really comfortable.

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