Downer EDI Limited has signed an extension contract with Karara Mining Ltd worth approximately $350 million. This agreement extents their current six-year contract – worth $570 million – on Karara’s iron ore mine to a further four years.
Under the original contract, Downer was to provide mining services till February 2018, but will now work at Karara until March 2022.
Downer Chief Executive Officer, Grant Fenn, said he was very pleased to be continuing the relationship.
“This extension is an endorsement of Downer’s strong safety and productivity performance and we look forward to bringing further value to Karara’s operations by reducing operating costs, increasing productivity and enhancing safety,” Mr Fenn said.
The world-class Karara Operation is located 200km east of Geraldton, Western Australia and consists of a substantial, long-life, magnetite concentrate deposit.
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As Felix's Marketing Assistant since 2015, Monica is responsible for researching and sharing new and progressing projects within the construction and mining sectors in Australia. It's no surprise that Monica has her finger on the pulse of Australian major projects given she has produced more than 1,000 posts. She truly is an industry expert.
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