Fortescue Seals $1.4 Billion Deal with Leighton

Submitted by Share Trading on 28 September, 2012 - 08:51

Fortescue Metals (ASX:FMG) has sealed a $1.4 billion deal with Leighton Contractors (ASX:LEI) to deliver a five year full service mine management with a possible two year extension.

  • The five year full service is for its Firetail iron ore deposit at Solomon in Western Australia's Pilbara region.
  • Leighton will be operating the open cut mining fleet and handling plant infrastructure.
  • The Firetail deposit is forecast to produce 20 million tonnes of iron ore per year from the end of March 2013.

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