Might be useful for reducing the possibilities of corrosion on various bits and pieces as well as oiling joints.
Were you thinking for tools or metal caving kit components?
You probably wouldn't want to coat all your caving metalwork with something that would be detrimental to your "soft" kit.
I have some Tri-Flon that I'm thinking of using on the pivot points etc of my caving gear.
I have used a few small drops of it on my loft ladder, which used to grate and screech every time I deployed it. I now have to be careful that it doesn't slide down in an uncontrolled fashion.