CIMIC Group’s
(ASX:CIM) global mining contractor, Theiss has been awarded a contract with revenue of $760 million to operate Glencore’s Mt Owen Coal Mine.
The agreement extends of Theiss’ 20-year involvement at the mine, which is located near Ravensworth in the Hunter Valley.
The company says the contract recognises its ability to provide certainty of operations, whilst seeking out innovative ways to drive efficiency.
The Mt Owen deposit is known for its complexity, consisting of multiple seams of coal dipping at angles of up to 45 degrees.
CIMIC Group reported a net profit of $258.2 million at 30 June 2015.
