Stocks of the Hour: Contact Energy, Evolution Mining & Infratil

Company News

by Lauren Evans

Contact Energy (ASX:CEN) has inked two 10-year deals to supply renewable electricity to Pan Pac Forest and Oji Fibre Solutions. Contact will supply both companies with a portion of their electricity requirements through until 2034. Shares in Contact Energy (ASX:CEN) are trading 2.8 per cent lower at $7.87.

Evolution Mining (ASX:EVN) has entered into a binding agreement with Navarre Minerals (ASX:NML) to sell the Mt Carlton gold mine in Queensland for up to $90 million. Executive chairman said, “we believe now is the time to hand Mt Carlton over to an emerging gold producer who can focus on extending the operation’s mine life." Shares in Evolution Mining (ASX:EVN) are trading 1.9 per cent higher at $3.69.

Infratil (ASX:IFT) plans to buy a 40 per cent stake in the London data centre business Kao Data. With their partners, they intend to build Kao Data into a $934 million (£500 million) ‘multi-site data centre platform.’  Shares in Infratil (ASX:IFT) are trading 1.9 per cent higher at $7.93.

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