Australia's De.mem hits over 2-week high on service contract with Rio Tinto

DE.Mem

22/06/2022 02:22

** Shares of the water treatment solutions provider  DEM.AX 
jump as much as 2.9% to A$0.180, their highest since June 6 
    ** Co signs a three year service contract with mining giant
Rio Tinto  RIO.AX   urn:newsml:reuters.com:*:nFWN2Y80VG
    ** Says contract for managing potable water and sewage
treatment plants at RIO's Amrun mine in Queensland 
    ** Adds three-year deal has a value of about A$1.7 million 
($1.18 million) in revenues 
    ** Stock down 22.2% this year as of last close, vs a 12.1%
decline in the benchmark S&P/ASX 200 index  .AXJO  



($1 = 1.4401 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))