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AUSTRALIA : Industrea Mining bags $26.9m contract extension at Lady Annie
Publish Date : 25-Nov-2011
Global mining products and services provider Industrea Limited announced the signing of an extension contract by Industrea Mining Services for the hire, service and support of a range of equipment to CST Minerals Lady Annie mine worth approximately $26.9m in revenue based on minimum contracted hours up to February 2014.
Industrea Managing Director and CEO, Robin Levison, said the extension related to its existing equipment utilised at the site.
“Our initial engagement commenced in August 2010 and has now been renewed out to February 2014. We enjoy a good working relationship with CST Minerals and are delighted to continue providing equipment as part of the Lady Annie expanding copper production targets for the next 2 years”, Mr Levison said.
“CST Mining’s Lady Annie copper mine is situated approximately 120 kilometres north west of Mt Isa. Mt Isa was the place where the Industrea Mining Services business was founded and remains a key part of our operations despite our diversification of revenue base by customer, commodity and geography.” “CST minerals is currently targeting production of approximately 24,000 tonnes of LME A grade copper cathode in 2011 expanding to a range of 28,000 to 30,000 tonnes in 2012.”
“This contract extension supports our view of Industrea Mining Services contributing approximately $200m to overall group revenue in FY 2012,” he said.
