UPDATE 1-Downer EDI secures $306.6 mln mining services contract at Gruyere Gold Project

  • Reuters
  • Stock Market News
UPDATE 1-Downer EDI secures $306.6 mln mining services contract at Gruyere Gold Project
Credit: © Reuters.

(Adds Gold Road's comment, details on Adani contract cancellation)

Dec 20 (Reuters) - Downer EDI Ltd DOW.AX , a mining contractor, said on Wednesday it had secured a mining services contract at the Gruyere Gold Project worth about A$400 million($306.56 million).

The project is a joint venture between Gold Road Resources Limited GOR.AX and Gold Fields Limited GFIJ.J , which hold equal stakes.

Downer will build haul roads and other infrastructure, as well as providing services such as the loading and hauling of ore and waste, over a five-year period.

Downer said in a statement it was scheduled to begin construction of infrastructure in early 2018, with mining to start in the fourth quarter of the 2018 calendar year.

In a separate statement, Gold Road said that Downer will have a peak workforce of about 170 personnel working on the project.

On Monday, India's Adani ADEL.NS said on Monday it had canceled plans with Downer to help develop and run its Carmichael coal mine in Australia after it failed to secure a cheap government loan for the A$16.5 billion project. ($1 = 1.3048 Australian dollars)

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100