Thiess, the world’s biggest surface mining contractor, has booked more than A$1.5 billion of new work in central Queensland, Australia, with an eight-year appointment by Pembroke Resources at the Olive Downs coking coal project.
Thiess, half-owned by ASX-listed CIMIC, said revenue was expected to be $1.5 billion over the first five years of its tenure at Olive Downs. Beyond that returns were still to be finalised.
Olive Downs has 514 million tonnes of JORC opencut reserves and a potential life of 80 years or more. It is slated to start production next year.
Pembroke said in December last year it had secured A$500 million of debt finance for the circa-$1 billion project.