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DOW - Downer EDI News Story

A$5.47 -0.1  -1.4%

Last Trade - 14/05/21

Sector
Industrials
Size
Mid Cap
Market Cap £2.11bn
Enterprise Value £3.10bn
Revenue £6.58bn
Position in Universe 133rd / 1913

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

Tue 19th December, 2017 10:00pm
(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. 
 urn:newsml:reuters.com:*:nL4N1OH0HX 
($1 = 1.3048 Australian dollars) 
 
 (Reporting by Aaron Saldanha in Bengaluru) 
 ((Aaron.Saldanha@thomsonreuters.com; +91 80 6749 1130; Reuters 
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net)) 
 
Keywords: DOWNER DEALS/GOLD ROAD RESOURCES
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