Thiess wins extra $550 million for Lake Vermont coal mine contract

Thiess have won an additional $550 million contract at the Lake Vermont Coal mine,near Dysart in Central Queensland.

The contract expands on the $2.3 billion the company was awarded at the mine last year as part of plans to ramp up production from four million tonnes to eight million tonnes per annum.

The contract announced today adds to this, with Thiess’ mining know-how being called upon by Jellinbah Resources to increase production again over the remaining five years of the current contract.

Bruce Munro, Thiess' managing director, said the latest contract showed the company's ability to exceed expectations.

“We continue to work with our client Jellinbah Resources to reduce costs and safely improve productivities across every aspect of the mining operations, from plant and equipment to local sourcing and empowering our people,” Munro said.

“By focusing on efficiencies and productivity we can deliver sustainable production in the long term for our clients and reposition the Bowen Basin as a globally competitive producer.”

Jellinbah CEO Greg Chalmers added that Thiess's continuation of work at the mine is “essential to the mine’s sustainable future in a very competitive metallurgical coal market”.

“The additional production at Lake Vermont Coal mine will ensure we maintain a profitable future for the mine,” Chalmers said.

“By working closely with Thiess we believe we can deliver the efficiencies required to ensure the mine remains competitive on a global scale and provide a small boost to the economy at a local, state and national level.”

Thiess' work at the mine in begun in 2007.

Lake Vermont is around 20 kilometres north of Dysart and has a workforce of about 350.