Document:

Exhibit 10.2

                           CONSENT AND AMENDMENT NO. 2

                                       TO

                           LOAN AND SECURITY AGREEMENT

            THIS CONSENT AND AMENDMENT NO. 2 (this  "Amendment") is entered into
as  of  September  15,  2006,  by  and  among  BUCYRUS  INTERNATIONAL,  INC.,  a
corporation  organized  under  the laws of the  State of  Delaware  ("Bucyrus"),
MINSERCO,  INC., a corporation organized under the laws of the State of Delaware
("Minserco"), and BOONVILLE MINING SERVICES, INC., a corporation organized under
the  laws  of  the  State  of  Delaware  ("Boonville")  (Bucyrus,  Minserco  and
Boonville, each a "Borrower" and collectively, the "Borrowers"),  BUCYRUS CANADA
LIMITED,  a  corporation  organized  under the laws of the  Province  of Ontario
("Bucyrus  Canada" and a "Guarantor"),  the financial  institutions set forth on
the signature pages hereto (each a "Lender" and collectively,  "Lenders"),  GMAC
COMMERCIAL  FINANCE LLC, a limited liability company organized under the laws of
the State of Delaware ("GMAC CF"), as administrative  agent and collateral agent
for the Lenders  (GMAC CF, in such  capacities,  the  "Agent")  and as sole lead
arranger,  JPMORGAN CHASE BANK, N.A. as  Documentation  Agent,  and LASALLE BANK
NATIONAL ASSOCIATION as Syndication Agent.

                                   BACKGROUND

      Borrowers,  Agent and Lenders are parties to an Amended and Restated  Loan
and  Security  Agreement  dated  as of  May  27,  2005  (as  amended,  restated,
supplemented  or otherwise  modified  from time to time,  the "Loan  Agreement")
pursuant to which Agent and Lenders  provide  Borrowers  with certain  financial
accommodations.

      Borrowers have requested that Agent and Lenders  consent to an increase in
the Maximum Revolving Advance Amount to $200,000,000,  and Agent and Lenders are
willing to do so on the terms and conditions hereafter set forth.

      NOW, THEREFORE, in consideration of any loan or advance or grant of credit
heretofore  or  hereafter  made to or for the account of  Borrowers by Agent and
Lenders,  and for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

      1.  Definitions.  All capitalized terms not otherwise defined herein shall
have the meanings given to them in the Loan Agreement.

      2. Consent.  Subject to satisfaction of the conditions precedent set forth
in Section 4 below,  each Lender hereby  consents to the increase of the Maximum
Revolving  Advance Amount from  $135,000,000 to $200,000,000 and the increase of
its Commitment  from  $45,000,000 to the amount set forth below its signature to
this Amendment.

<PAGE>

      3. Amendment to Loan Agreement.  Subject to satisfaction of the conditions
precedent set forth in Section 4 below,  the Loan Agreement is hereby amended as
follows:

            (a) Section 1.2 is amended as follows:

                  (i) the  following  defined term is amended in its entirety to
provide as follows:

                     "Maximum Revolving Advance Amount" shall mean $200,000,000.

      4. Conditions of Effectiveness. This Amendment shall become effective upon
satisfaction of the following conditions precedent:

            (a) Agent  shall have  received  four (4)  copies of this  Amendment
executed by Borrowers and Lenders and consented and agreed to by Guarantor;

            (b) Agent shall have received the Third Amended and Restated  Notes,
in the form of  Exhibit A  attached  hereto,  duly  executed  and  delivered  by
Borrower;

            (c) Each Lender shall have  received an amendment  fee in the amount
of  $43,333.33,  such amount equal to .2% of each Lender's share of the increase
of the Maximum Revolving Advance Amount.

            (d) Agent shall have received such other certificates,  instruments,
documents, agreements and opinions of counsel as may be required by Agent or its
counsel, each of which shall be in form and substance  satisfactory to Agent and
its counsel.

      5.  Representations  and Warranties.  Each Borrower hereby  represents and
warrants as follows:

            (a)  This  Amendment  and the Loan  Agreement,  as  amended  hereby,
constitute legal, valid and binding obligations of Borrowers and are enforceable
against Borrowers in accordance with their respective terms.

            (b) Upon the  effectiveness of this Amendment,  each Borrower hereby
reaffirms  all  covenants,  representations  and  warranties  made  in the  Loan
Agreement to the extent the same are not amended  hereby and agree that all such
covenants, representations and warranties shall be deemed to have been remade as
of the effective date of this Amendment.

            (c) No Event of Default or Default has occurred and is continuing or
would exist after giving effect to this Amendment.

            (d) No Borrower has any defense, counterclaim or offset with respect
to the Loan Agreement.

      6. Effect on the Loan Agreement.

<PAGE>

            (a) Upon the  effectiveness  of Section 2 hereof,  each reference in
the Loan Agreement to "this Agreement," "hereunder," "hereof," "herein" or words
of like import  shall mean and be a reference  to the Loan  Agreement as amended
hereby.

            (b) Except as specifically  amended herein, the Loan Agreement,  and
all other  documents,  instruments and agreements  executed and/or  delivered in
connection  therewith,  shall  remain in full force and  effect,  and are hereby
ratified and confirmed.

            (c) The  execution,  delivery and  effectiveness  of this  Amendment
shall not operate as a waiver of any right, power or remedy of Agent or Lenders,
nor  constitute a waiver of any  provision of the Loan  Agreement,  or any other
documents,  instruments  or agreements  executed  and/or  delivered  under or in
connection therewith.

      7. Governing  Law. This  Amendment  shall be binding upon and inure to the
benefit of the parties  hereto and their  respective  successors and assigns and
shall be governed by and construed in  accordance  with the laws of the State of
New York.

      8. Headings.  Section  headings in this Amendment are included  herein for
convenience  of reference only and shall not constitute a part of this Amendment
for any other purpose.

      9. Counterparts;  Facsimile. This Amendment may be executed by the parties
hereto in one or more  counterparts,  each of which  shall be deemed an original
and all of  which  when  taken  together  shall  constitute  one  and  the  same
agreement. Any signature delivered by a party by facsimile transmission shall be
deemed to be an original signature hereto.

<PAGE>

      IN WITNESS  WHEREOF,  this  Amendment has been duly executed as of the day
and year first written above.

                                    BUCYRUS INTERNATIONAL, INC.

                                    By: /s/ T. W. Sullivan
                                       -----------------------------------------
                                    Name:  T. W. Sullivan
                                    Title: CEO & President

                                    MINSERCO, INC.

                                    By:  /s/ T. W. Sullivan
                                       -----------------------------------------
                                    Name:  T. W. Sullivan
                                    Title: CEO, President &
                                           Chairman of the Board

                                    BOONVILLE MINING SERVICES, INC.

                                    By: /s/ T. W. Sullivan
                                       -----------------------------------------
                                    Name:  T. W. Sullivan
                                    Title: CEO, President &
                                           Chairman of the Board

                                    GMAC COMMERCIAL FINANCE LLC,
                                    as Agent and Lender

                                    By: /s/ Joseph Skaferowsky
                                       -----------------------------------------
                                    Name:  Joseph Skaferowsky
                                    Title: Director

                                    Commitment Percentage:  33.3333%
                                    Commitment:  $66,666,666.67

                                    JPMORGAN CHASE BANK, NATIONAL
                                    ASSOCIATION, as Lender

                                    By: /s/ Jane W. Mezera
                                       -----------------------------------------
                                    Name:  Jane W. Mezera
                                    Title: Vice President

                                    Commitment Percentage:  33.3333
                                    Commitment:  $66,666,666.66

<PAGE>

                                    LASALLE BANK NATIONAL ASSOCIATION, as Lender

                                    By: /s/ Dusko Marinovic
                                       -----------------------------------------
                                    Name:  Dusko Marinovic
                                    Title: Vice President

                                    Commitment Percentage:  33.3333%
                                    Commitment:  $66,666,666.67

CONSENTED AND AGREED TO:

/s/ T. W. Sullivan
--------------------------------
BUCYRUS CANADA LIMITEDExhibit 10.3

                                 AMENDMENT NO. 3

                                       TO

                           LOAN AND SECURITY AGREEMENT

            THIS  AMENDMENT  NO.  3 (this  "Amendment")  is  entered  into as of
October 18,  2006,  by and among  BUCYRUS  INTERNATIONAL,  INC.,  a  corporation
organized under the laws of the State of Delaware ("Bucyrus"), MINSERCO, INC., a
corporation organized under the laws of the State of Delaware ("Minserco"),  and
BOONVILLE MINING SERVICES,  INC., a corporation  organized under the laws of the
State  of  Delaware  ("Boonville")  (Bucyrus,  Minserco  and  Boonville,  each a
"Borrower"  and  collectively,  the  "Borrowers"),  BUCYRUS  CANADA  LIMITED,  a
corporation  organized  under  the laws of the  Province  of  Ontario  ("Bucyrus
Canada"  and a  "Guarantor"),  the  financial  institutions  set  forth  on  the
signature  pages  hereto  (each a "Lender" and  collectively,  "Lenders"),  GMAC
COMMERCIAL  FINANCE LLC, a limited liability company organized under the laws of
the State of Delaware ("GMAC CF"), as administrative  agent and collateral agent
for the Lenders  (GMAC CF, in such  capacities,  the  "Agent")  and as sole lead
arranger,  JPMORGAN CHASE BANK, N.A. as  Documentation  Agent,  and LASALLE BANK
NATIONAL ASSOCIATION as Syndication Agent.

                                   BACKGROUND

      Borrowers,  Agent and Lenders are parties to an Amended and Restated  Loan
and  Security  Agreement  dated  as of  May  27,  2005  (as  amended,  restated,
supplemented  or otherwise  modified  from time to time,  the "Loan  Agreement")
pursuant to which Agent and Lenders  provide  Borrowers  with certain  financial
accommodations.

      Borrowers have requested that Agent and Lenders make certain amendments to
the Loan  Agreement as set forth below,  and Agent and Lenders are willing to do
so on the terms and conditions hereafter set forth.

      NOW, THEREFORE, in consideration of any loan or advance or grant of credit
heretofore  or  hereafter  made to or for the account of  Borrowers by Agent and
Lenders,  and for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

      1.  Definitions.  All capitalized terms not otherwise defined herein shall
have the meanings given to them in the Loan Agreement.

      2. Amendment to Loan Agreement.  Subject to satisfaction of the conditions
precedent set forth in Section 3 below,  the Loan Agreement is hereby amended as
follows:

            (a) Section 7.8 of the Loan Agreement is amended and restated in its
entirety as follows:

<PAGE>

            "7.8.  Indebtedness.  Create,  incur,  assume or suffer to exist any
            Indebtedness  for Money Borrowed of any Loan Party except in respect
            of (i)  Indebtedness  to the  Lenders;  (ii)  Indebtedness  incurred
            consisting of Canadian  Intercompany Advances and Foreign Subsidiary
            Advances  permitted  under  Section 7.5 hereof;  (iii)  Indebtedness
            consisting of the deferred purchase price of property or services or
            other  purchase  money  debt in a  principal  amount  not to  exceed
            $5,000,000   in  the  aggregate  at  any  time   outstanding,   (iv)
            Indebtedness  with  respect  to  Capital  Leases,  (v)  Indebtedness
            outstanding  on the Closing Date and set forth on Schedule 7.8, (vi)
            any  extension,  renewal,  refinancing,  in  whole  or in  part,  of
            Indebtedness  described in the  foregoing  clauses (ii) through (v),
            provided that the principal amount of such Indebtedness shall not be
            increased unless such increased  Indebtedness is otherwise permitted
            hereunder and the terms of such Indebtedness are not more onerous on
            the  relevant  Loan  Party  than  the  terms  in  effect  as to  the
            Indebtedness  being refinanced and (vii) additional  Indebtedness in
            an amount not in excess of $5,000,000 at any time outstanding.

            (b) Schedule 7.3 of the Loan  Agreement is amended by inserting  new
paragraphs 8 and 9 at the end thereof, to read as follows:

            "8.   Pursuant to a Parent Corporation Guarantee,  the form of which
                  was   delivered   to  Agent  on  October   3,  2006,   Bucryus
                  International,  Inc.  has  guaranteed  obligations  of Bucyrus
                  (Australia) Pty. Ltd. to Anglo Coal (Contracting) Pty. Ltd. as
                  Agent for the Capricorn Coal Developments Joint Venture.

            9.    Pursuant to a Corporate  Guarantee and Indemnity,  the form of
                  which was  delivered  to Agent on October  12,  2006,  Bucryus
                  International,  Inc.  has  guaranteed  obligations  of Bucyrus
                  (Australia)  Pty.  Ltd. to Australia  and New Zealand  Banking
                  Group Limited ABN 11 005 357 522.

      3. Conditions of Effectiveness. This Amendment shall become effective upon
satisfaction of the following conditions precedent:

            (a) Agent  shall have  received  four (4)  copies of this  Amendment
executed by  Borrowers  and the Required  Revolving  Lenders and  consented  and
agreed to by Guarantor; and

            (b)  Agent  shall  have  received  true and  correct  copies  of the
documents  referred to in the  amendment  to Schedule 7.3 above  (including  the
underlying   contracts   being   guaranteed),   and  such  other   certificates,
instruments, documents, agreements and opinions of counsel as may be required by
Agent or its counsel, each of which shall be in form and substance  satisfactory
to Agent and its counsel.

      4.  Representations  and Warranties.  Each Borrower hereby  represents and
warrants as follows:

<PAGE>

            (a)  This  Amendment  and the Loan  Agreement,  as  amended  hereby,
constitute legal, valid and binding obligations of Borrowers and are enforceable
against Borrowers in accordance with their respective terms.

            (b) Upon the  effectiveness of this Amendment,  each Borrower hereby
reaffirms  all  covenants,  representations  and  warranties  made  in the  Loan
Agreement to the extent the same are not amended  hereby and agree that all such
covenants, representations and warranties shall be deemed to have been remade as
of the effective date of this Amendment.

            (c) No Event of Default or Default has occurred and is continuing or
would exist after giving effect to this Amendment.

            (d) No Borrower has any defense, counterclaim or offset with respect
to the Loan Agreement.

      5. Effect on the Loan Agreement.

            (a) Upon the  effectiveness  of Section 2 hereof,  each reference in
the Loan Agreement to "this Agreement," "hereunder," "hereof," "herein" or words
of like import  shall mean and be a reference  to the Loan  Agreement as amended
hereby.

            (b) Except as specifically  amended herein, the Loan Agreement,  and
all other  documents,  instruments and agreements  executed and/or  delivered in
connection  therewith,  shall  remain in full force and  effect,  and are hereby
ratified and confirmed.

            (c) The  execution,  delivery and  effectiveness  of this  Amendment
shall not operate as a waiver of any right, power or remedy of Agent or Lenders,
nor  constitute a waiver of any  provision of the Loan  Agreement,  or any other
documents,  instruments  or agreements  executed  and/or  delivered  under or in
connection therewith.

      6. Governing  Law. This  Amendment  shall be binding upon and inure to the
benefit of the parties  hereto and their  respective  successors and assigns and
shall be governed by and construed in  accordance  with the laws of the State of
New York.

      7. Headings.  Section  headings in this Amendment are included  herein for
convenience  of reference only and shall not constitute a part of this Amendment
for any other purpose.

      8. Counterparts;  Facsimile. This Amendment may be executed by the parties
hereto in one or more  counterparts,  each of which  shall be deemed an original
and all of  which  when  taken  together  shall  constitute  one  and  the  same
agreement. Any signature delivered by a party by facsimile transmission shall be
deemed to be an original signature hereto.

<PAGE>

      IN WITNESS  WHEREOF,  this  Amendment has been duly executed as of the day
and year first written above.

                                    BUCYRUS INTERNATIONAL, INC.

                                    By: /s/ John F. Bosbous
                                       -----------------------------------------
                                    Name:  J. F. Bosbous
                                    Title: Treasurer

                                    MINSERCO, INC.

                                    By:  /s/ John F. Bosbous
                                        ----------------------------------------
                                    Name:  J. F. Bosbous
                                    Title: Treasurer

                                    BOONVILLE MINING SERVICES, INC.

                                    By: /s/ C. R. Mackus
                                       -----------------------------------------
                                    Name:  C. R. Mackus
                                    Title: V.P. Finance, Treasurer
                                           and Secretary

                                    GMAC COMMERCIAL FINANCE LLC,
                                    as Agent and Lender

                                    By: /s/ Joseph Skaferowsky
                                       -----------------------------------------
                                    Name:  Joseph Skaferowsky
                                    Title: Director

                                    Commitment Percentage:  33.3333%
                                    Commitment:  $66,666,666.67

                                    JPMORGAN CHASE BANK, NATIONAL
                                    ASSOCIATION, as Lender

                                    By: /s/ Jane W. Mezera
                                       -----------------------------------------
                                    Name:  Jane W. Mezera
                                    Title: Vice President

                                    Commitment Percentage:  33.3333
                                    Commitment:  $66,666,666.66

<PAGE>

                                    LASALLE BANK NATIONAL ASSOCIATION,
                                    as Lender

                                    By:  /s/ D. Marinovic
                                       -----------------------------------------
                                    Name:  Dusko Marinovic
                                    Title: Vice President

                                    Commitment Percentage:  33.3333%
                                    Commitment:  $66,666,666.67

CONSENTED AND AGREED TO:

/s/ C. R. Mackus
------------------------------
BUCYRUS CANADA LIMITED

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]