Thiess obtains $437m coal mine contract from GBU
Monday, September 4 2017 - 01:30 AM WIB
CIMIC Group announced on Monday that its global mining services provider, Thiess, has been awarded a new contract at Gunung Bara Utama (GBU) coal mine in Indonesia?s East Kalimantan Province.
CIMIC said in a statement that under the contract, Thiess will deliver total mining solutions from 2017 until 2024, generating total revenue of approximately A$437 million.
CIMIC Group Chief Executive Officer Adolfo Valderas said: ?This new contract in Indonesia demonstrates how Thiess is continuing to expand mining operations by establishing valuable partnerships with our mining clients.?
GBU operates a 5,350-ha coal concession in Dumai, West Kutai Regency, and has already been in production.
IDX-listed shipping and marine transportation services firm PT Trada Maritime Tbk announced recently plan to acquire 100 percent of GBU following signing of a MoU on July 27 with GBU shareholders. The proposed acquisition will be completed once due diligence process has been completed, Trada said.
Editing by Reiner Simanjuntak