- 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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Ann: GENERAL: DOW: Goonyella Riverside Mine Contract Terminated
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