DOW
04/05/2015 11:55
GENERAL
PRICE SENSITIVE
REL: 1155 HRS Downer EDI Limited
GENERAL: DOW: Downer awarded $70 million underground mining contract
4 May 2015
DOWNER AWARDED $70 MILLION UNDERGROUND MINING CONTRACT
Downer EDI Limited (Downer) today announced it had received a Letter of
Intent from Cobar Management Pty Limited advising of its intention to enter
into a contract with Downer for mining services at the CSA Mine, which is an
underground copper mine located in Cobar, Central Western NSW. The Letter of
Intent is subject to the parties executing a binding agreement.
Cobar Management Pty Limited is a wholly owned subsidiary of Glencore plc, a
global diversified natural resource company.
The two year contract is valued at approximately $70 million and has an
additional one year option. It is scheduled to commence in July 2015.
The scope of works includes mechanised decline and lateral development mining
and haulage, with the provision of ground support services including
shotcrete and cable bolting.
The Chief Executive Officer of Downer, Grant Fenn, said the contract award
was an endorsement of Downer's underground mining capabilities.
"Downer has a highly skilled and experienced hard rock underground mining
team and we continue to build this part of the mining business," Mr Fenn
said.
"We look forward to working with Cobar Management on this important project."
"For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61
439 470145
Luke Thrum, Manager Investor Relations +61 459 828 720
Downer EDI Limited (Downer) is a leading provider of services to customers in
markets including Transportation, Mining, Energy and Industrial Engineering,
Utilities, Communications and Facilities. Downer employs about 20,000 people,
mostly in Australia and New Zealand but also in the Asia-Pacific region,
South America and Southern Africa.
End CA:00263845 For:DOW Type:GENERAL Time:2015-05-04 11:55:39
(20min delay)