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Goonyella Riverside mine contract terminated with Downer

Downer-Mining_Goonyella-open-cut-coal-mineDowner EDI’s  overburden removal contract at the Goonyella Riverside mine near Moranbah has been terminated by BHP Billiton Mitsubishi Alliance (BMA), taking effect from 9 September 2014.

The company was informed of BMA’s decision last night.

Downer currently employs 427 people dedicated to the operation of four pre-strip fleets at Goonyella Riverside.

Downer estimates that the early termination of the contract, which was due to be completed in June 2016, will have an impact on work-in-hand of approximately $360 million ($160 million in the 2015 financial year and $200 million in the 2016 financial year).

Under the terms of the contract, Downer will be entitled to compensation for early termination.

The Chief Executive Officer of Downer, Grant Fenn, said Downer would work closely with BMA through the transitioning process

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