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CIMIC Group (ASX:CIM) - Executive Chairman, Marcelino Fernández Verdes - The Market Herald
Executive Chairman, Marcelino Fernández Verdes
Source: Global Construction Review
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  • CIMIC Group's (CIM) mineral processing subsidiary, Sedgman, has been awarded two contract extensions that will generate $166 million in revenue
  • Both contract extensions have been awarded by QCoal and are for another three years each
  • Sedgman will continue operating and maintaining QCoal's Sonoma and Byerwen mine operations in Queensland
  • Sedgman has provided engineering works at Sonoma since 2007 and Byerwen since 2017
  • CIMIC ended the day a slight 0.27 per cent with shares closing at $22.43

CIMIC Group's (CIM) mineral processing subsidiary, Sedgman, has been awarded two contract extensions by QCoal.

QCoal awarded the contracts to Sedgman for it to continue to operate and maintain its Sonoma and Byerwen mines in Queensland.

Both contracts are extended for three years and will generate around $166 million in revenue for Sedgman.

In 2007, Sedgman conducted the engineering design, construction and commissioning of the coal handling and preparation plant at Sonoma. Since then, it has continue to operate and expand the facility.

"Sedgman’s expertise in minerals processing and focus on maximum resource recovery will help drive even greater efficiencies at these mines," CIMIC CEO Juan Santamaria said.

Sedgman also delivered engineering, procurement, construction (EPC) and commissioning services for a train loadout facility and processing plant at Byerwen in 2017. The following year, it conducted the same works for a duplication of the coal handling and processing plant.

"These contracts are testament to the partnership we have forged with QCoal over many years, and the integration of our engineering design, project delivery and operations teams,"Sedgman Managing Director Grant Fraser said.

CIMIC ended the day a slight 0.27 per cent with shares closing at $22.43.

CIM by the numbers
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