Downer EDI extends mining contracts

Engineering group wins 3-year extension on Yancoal, Sojitz, Saracen contracts.

Engineering company Downer EDI Ltd has had its blasting services contracts in the mining sector extended for $230 million.

Coal miners Yancoal and Sojitz and gold producer Saracen extended their contracts with Downer Blasting Services (DBS) by another three years.

DBS has been working with Yancoal since 2006 and operates at Yancoal's Moolarben, Ashton and Yarrabee mines, as well as the Duralie coal mine in New South Wales.

The contracts mean DBS will continue to work on Sojitz's Minerva mine in the Bowen Basin, as well as Saracen's Carosue Dam gold mine in Western Australia.

"This is a positive reflection on both the strength of our relationships with our customers and the quality of our service delivery," Downer chief executive Grant Fenn said.

At 1202 AEST, Downer EDI Limited was completely flat at $3.84, against a benchmark index slip of 0.05%.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles