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DOWNER EDI LIMITED — Capital/Financing Update 2007
Dec 27, 2007
64784_rns_2007-12-27_c8425b1a-78f2-4c50-9413-83bbd9910e53.pdf
Capital/Financing Update
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Company Announcements Platform
Australian Securities Exchange and New Zealand Stock Exchange
Friday, 28 December 2007
Media Release - Downer EDI Mining and Fortescue Metals Group jointly announce contract changes
Downer EDI Limited (Downer EDI) and Fortescue Metals Group Limited (FMG) today announced changes to the nature of the work Downer EDI’s Mining Division is performing for FMG.
Damien O’Reilly, CEO of Downer EDI Mining, stated that the changes reflect the evolving nature of the mining project.
The parties stated: “The role Downer EDI Mining is playing for FMG has changed in recent months, reflecting the gradual transition to an owner-miner model. For this reason both companies have mutually agreed to terminate contract mining works. However both companies continue to work co-operatively on a range of fronts. Downer EDI Mining has recently been engaged by FMG to supply blasting services at the Cloudbreak Mine, the value of which is expected to be approximately $130 million over three years. In addition, FMG has issued Downer EDI Mining with a letter of intent for crushing services valued in excess of $30 million over 18 months. The value of these two contracts exceeds the value of the contract mining works previously supplied to FMG.”
These contracts come on top of Peabody Pacific’s recent award of preferred tenderer status to Downer EDI Mining in respect of both its Wambo and Millennium Mining projects.
Downer EDI Limited (www.downeredi.com) is an Australian top-100 company that provides comprehensive engineering and infrastructure management services to the public and private transport, energy, communications and resources sectors across Australia, New Zealand, Asia Pacific and into the United Kingdom.
T 61 2 9251 9899 F 61 2 9251 1987 W www.downeredi.com E [email protected]
Level 3, 190 George Street Sydney NSW 2000 PO Box N692 Grosvenor Place NSW 1220
Downer EDI Limited ACN 003 872 848
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Media Release Continued
Brands of Downer EDI and its primary business divisions:
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Contact:
Geoff Fowlstone, Principal, Fowlstone Communications (02) 99559899 or 0413746949 Ross Moffat, General Manager - Investor Relations, (02) 9240 9042 or 0412 256 224
T 61 2 9251 9899 F 61 2 9251 1987
Level 3, 190 George Street Sydney NSW 2000 PO Box N692 Grosvenor Place NSW 1220
Downer EDI Limited ACN 003 872 848