Downer receives contract extension at Meandu Mine

Company News

by David Chau

Downer EDI Limited (ASX:DOW) has signed a 2-year contract extension to provide mining services at the Meandu Mine in Queensland.

The company says the Meandu Mine is owned by Stanwell Corporation, and delivers around 5.5 million tonnes of coal per year to nearby power stations.

Under this extension, the contract will expire in June 2020, and is worth around $250 million.

Downer has also announced that it signed a Technical Services Agreement with Adani Enterprises Ltd for coal mine planning services in India. This Agreement has an initial value of $2 million, and will be for an initial term of 12 months.

Downer reported a net profit of $72.1 million at 31 December 2015.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?