Downer EDI Ltd (ASX:DOW), provides engineering and infrastructure management services to the public and private rail, road, power, telecommunications, mining and resources sectors in Australia, New Zealand, Asia and the Pacific. Downer provides rolling stock services, drilling services for the exploration industry, mine planning and management services and highway maintenance.
Industrials stock Downer EDI today announced it has been awarded a six year magnetite mining contract with Karara Mining for provisions of services at its iron ore project in Western Australia.
The contract which commences this month has total estimated revenue of approximately $570 million over the six years.
CEO Mr Grant Fenn said the contract will enhance Downer’s exposure to the expanding iron ore sector and also increase its geographical presence in Western Australia.