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DOWNER EDI LIMITED — Capital/Financing Update 2016
Aug 14, 2016
64784_rns_2016-08-14_8f7ac09c-1ae1-43bc-9282-878c835c392c.pdf
Capital/Financing Update
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Downer EDI Limited ABN 97 003 872 848 Triniti Business Campus 39 Delhi Road North Ryde NSW 2113 1800 DOWNER www.downergroup.com
Media/ASX and NZX Release
15 August 2016
DOWNER AWARDED FOUR YEAR MINING CONTRACT EXTENSION
Downer EDI Limited (Downer) today announced it had signed a contract extension with Karara Mining Ltd (Karara).
This agreement extends the current contract for a further four years from the original completion date of 28 February 2018 to 31 March 2022.
The value of the additional four years work is estimated to be approximately $350 million.
Downer has been providing mining services to Karara since the magnetite operation commenced production in February 2012.
The Chief Executive Officer of Downer, Grant Fenn, said he was very pleased to be continuing Downer’s relationship with Karara.
“This extension is an endorsement of Downer’s strong safety and productivity performance and we look forward to bringing further value to Karara’s operations by reducing operating costs, increasing productivity and enhancing safety” Mr Fenn said.
About Downer
Downer EDI Limited (Downer) is a leading provider of services to customers in markets including: Transport Services; Rail; Mining; Utilities Services; Technology and Communications Services; and Engineering, Construction & Maintenance. We build strong relationships of trust with our customers, truly understanding and predicting their needs and bringing them world leading insights and solutions. Downer employs about 19,000 people across more than 200 sites and projects, mostly in Australia and New Zealand, but also in the Asia-Pacific region, South America and Southern Africa. For more on Downer, visit: www.downergroup.com.
For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations
+61 439 470 145
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