Cimic’s (ASX:CIM) Thiess renews contract in Indonesia

Cimic’s(ASX:CIM)subsidiary Thiess has secured a $220 million contract renewal of three years to continue providing mining services at Wahana Baratama Minings coal mine in South Kalimantan, Indonesia.

The building contractor notes that Thiess has operated at the project since 2007, providing mining services to its client, Wahana, which is owned by Bayan Resources. The services include mine planning, environmental and water management, drill and blast, and mining and pit hauling services.

This extension builds on our long-term partnership with Wahana and recognises Thiess ability to deliver sustainable and competitive mining solutions tailored to their operational needs,” said Thiess CEO Michael Wright.

“Were proud to continue delivering value at Wahana, a unique operation where Thiess has mined two adjoining mines for two different clients. Our team is focused on continuing to optimise resource recovery and extending the mines reserves to deliver long-term value for Wahana,” said Thiess executive general manager Asia, Cluny Randell.

Alongside this, were looking forward to building on our Covid-19 vaccination efforts, extending our employee and family vaccination program into the community next month.

The three-year contract renewal commences from November 2021.

Shares in Cimic(ASX:CIM)are trading 0.4 per cent higher at $19.70.

 

Source: https://www.finnewsnetwork.com.au/archives/finance_news_network350141.html