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HOCHTIEF Announces New Mining Order in Australia for EUR 1.95 Billion - HOCHTIEF has again been given a major mining order. The Leighton subsidiary Thiess will make a substantial increase to its services at the Lake Vermont coal mine in Queensland - HOCHTIEF.com
HOCHTIEF Announces New Mining Order in Australia for EUR 1.95 Billion

 

NewswireToday - /newswire/ - Essen, United States, 2012/07/23 - HOCHTIEF has again been given a major mining order. The Leighton subsidiary Thiess will make a substantial increase to its services at the Lake Vermont coal mine in Queensland - HOCHTIEF.com. ASX: CIM

   
 
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• HOCHTIEF Contract Mining Business Continues to be 'very Positive'
• Mining projects for EUR 2.93 billion received in July as a whole;
• Uninterruptedly positive order situation; long-term contracts.

This will result in annual production increasing from 4 to 8 million tonnes of coal. Since 2007, Thiess has been responsible for excavating the deposits in Lake Vermont and is also assuming the transportation of the coal and maintaining the machine park. The new contract has a volume of almost EUR 1.95 million and runs for six years.

"This is an excellent win for Leighton: it confirms our positive long-term outlook for commodities and contract mining, both in Australia and Asia, and our competency as a contract miner," emphasizes Hamish Tyrwhitt, CEO of Leighton. In July 2012 alone, the company received mining contracts worth approximately EUR 2.93 billion. Apart from Lake Vermont, these include the Jax Coal Bulk Sample Project (approximately EUR 360 million) and a contract extension at the Sonoma Mine (approximately EUR 620 million). Both projects are also in Queensland. "The demand for ressources is still intact. Our incoming orders are very positive and this is a long-term business. Some of our contracts have terms of ten years or more," says Dr. Frank Stieler, CEO of HOCHTIEF.

From January to July 2012, the Group received new orders in the mining sector worth more than EUR 5.35 billion. Alongside the expansion of energy and transport infrastructure and the development of metropolitan areas, contract mining is HOCHTIEF‘s fourth strategic growth area.

 
 
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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Announces New Mining Order in Australia for EUR 1.95 Billion

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Publisher Contact: Christian Gerhardus - HOCHTIEF.de 
presse[.]hochtief.de
 
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