Leighton Holdings Limited’s (ASX:LEI) wholly owned subsidiary Thiess has won a $2.3 billion mining contract from Jellinbah Group.
Under the six year agreement Thiess will work to extend mining operations at Jellinbah Group’s Lake Vermont coal mine in Queensland’s Bowen Basin. The expansion will enable production to double from four million to eight million tonnes per annum.
Thiess’ Managing Director Bruce Munro says the contract is substantial and builds on the company’s relationship with Jellinbah Group, which began in 2007.
Leighton Holdings says the contract confirms the company’s positive long term outlook for commodities and contract mining in Australia and Asia.
In the first half of the 2012 financial year Leighton reported a net profit $345 million.
LEI Price at posting:
$15.86 Sentiment: None Disclosure: Held
