Downer signs 3 year contract with Cobar Management

Company News

by Anna Napoli

Downer EDI (ASX:DOW) has today announced it has signed a three year mining contract with Cobar Management worth $120 million.

The contract is for the provision on mining services at the CSA Mine copper mine in Cobar.

Cobar Managment is a wholly owned subsidiary of global mining giant, Glencore.

The contract comes off the back of the successful completion of a three year mining services contract awarded to Downer in 2015.

Downer CEO Grant Fenn says he is very pleased to be continuing Downer’s relationship with Cobar Mnagament.

Shares in Downer EDI (ASX:DOW) are trading 1.2 per cent lower to $7.40

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.