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Ann: GENERAL: DOW: Goonyella Riverside Mine Contract Terminated

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    • Release Date: 11/06/14 11:01
    • Summary: GENERAL: DOW: Goonyella Riverside Mine Contract Terminated
    • Price Sensitive: No
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    					DOW
    11/06/2014 11:01
    GENERAL
    
    REL: 1101 HRS Downer EDI Limited
    
    GENERAL: DOW: Goonyella Riverside Mine Contract Terminated
    
    Media/ASX and NZX Release
    11 June 2014
    GOONYELLA RIVERSIDE MINE CONTRACT TERMINATED
    
    Downer EDI Limited (Downer) was informed last night that its overburden
    removal contract at the Goonyella Riverside mine in Queensland had been
    terminated by BHP Billiton Mitsubishi Alliance (BMA) with effect from 9
    September 2014.
    
    Downer currently employs 427 people dedicated to the operation of four
    pre-strip fleets at Goonyella Riverside.
    
    Downer estimates that the early termination of the contract, which was due to
    be completed in June 2016, will have an impact on work-in-hand of
    approximately $360 million ($160 million in the 2015 financial year and $200
    million in the 2016 financial year).
    
    Under the terms of the contract, Downer will be entitled to compensation for
    early termination.
    
    The Chief Executive Officer of Downer, Grant Fenn, said Downer would work
    closely with BMA through the transitioning process.
    
    For further information please contact:
    
    Michael Sharp, Group Head of Corporate Affairs and Investor Relations  +61
    439 470145
    Luke Thrum, Manager Investor Relations    +61 459 828720
    
    Downer EDI Limited (www.downergroup.com) provides comprehensive engineering
    and infrastructure management services to the public and private Minerals &
    Metals, Oil & Gas, Power, Transport Infrastructure, Telecommunications, Water
    and Property sectors across Australia, New Zealand and the Asia Pacific
    region.
    End CA:00251442 For:DOW    Type:GENERAL    Time:2014-06-11 11:01:31
    				
 
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