Cimic Group increases Mt Owen contract

Company News

by Rachael Jones

International contractor Cimic Group (ASX:CIM) has secured a $140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley.

Mt Owen is Thiess’ largest coal mining operation in New South Wales.

Cimic’s history with Mt Owen dates back to 1994 when Theiss first built the mine.

Theiss will continue to provide mine planning, design and execution, drill and blast until June 2021 under the amended contract.

Shares in Cimic Group (ASX:CIM) closed down 0.82% to $44.54.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.