CIMIC’s Thiess expands contract for Indonesian coal mine

Company News

by David Chau

CIMIC Group Ltd’s (ASX:CIM) mining services provider, Thiess, has secured a 5-year contract expansion and extension at the Melak Coal Mine in East Kalimantan, Indonesia.

This Indonesian mine is owned by the Bayan Resources Group.

CIMIC says the contract extension is until March 2022, with additional revenues of $530 million.

Thiess’ Managing Director, Michael Wright, says, is also currently working on expanding its mining operations in East and Central Kalimantan.

CIMIC posted a net profit of $244.6 million at 30 June 2016. 

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