JOINT ASX / MEDIA RELEASE
AUMS WINS US$70 MILLION AFRICAN CONTRACT
HAS US$132 MILLION WORTH OF WORK WITH RED BACK MINING
Ausdrill Limited (ASX:ASL) today announced that its African Underground Mining Services (AUMS) joint venture had received a Letter of Intent for a US$70 million production mining contract with Red Back Mining in Ghana, West Africa.
The four-year contract will commence early in calendar 2009 at Red Back Mining?s Akwaaba Deeps Project at Chirano in Ghana.
The production contract is the second awarded to AUMS by Red Back Mining in the past six months, following a three-year, US$62 million development contract for Akwaaba underground.
The production contract brings the total value of work won by AUMS with Red Back Mining to US$132 million or at current exchange rates approximately A$163 million.
AUMS is a 50/50 joint venture between African Mining Services (Ghana) Pty Ltd and Barminco Ltd.
In addition to the AUMS contracts, African Mining Services (Ghana) Pty Ltd has a five-year open pit contract with Red Back Mining at the Chirano gold project.
Ausdrill Chairman Terry O?Connor said the contract continued the Company?s growth in Africa through AUMS and African Mining Services.
?Ausdrill and its subsidiaries have secured some significant contracts and extended our presence in Africa, and we believe we are well positioned to seize further opportunities in this market,? Mr O?Connor said.
For further information
Visit: www.ausdrill.com.au
Or contact:
Media inquiries:
Caroline de Mori
Purple Communications
0418 919 064
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