Thiess has established a joint venture with Edmonton-based contractor KMC Mining,1 and, from October 2016, will be included on a panel to provide mining services in oil sands to a Canadian energy company.
In addition to the new geography, the expansion into oil sands provides Thiess with further diversification by commodity.
The
agreement will generate potential revenue to the Thiess KMC joint
venture of up to A$840 million. The scope of works over 51 months
includes the supply, operation and maintenance of equipment in Canada’s
Athabasca region.
CIMIC Executive Chairman and Chief Executive
Officer Marcelino Fernández Verdes said: “Thiess’ expansion into Canada
highlights the success of our strategy of pursuing global growth by
consistently delivering leading, sustainable mining solutions for
clients.
“Entering a new geography and expanding our commodity
focus enhances Thiess’ resilience as a diversified, global mining
contractor. This is a major milestone for our business.”
Thiess
Managing Director Michael Wright said: “We are very pleased to begin our
journey in Canada, expanding our global footprint and bringing our
mining services offering to the Canadian market. Our partnership with
KMC offers a unique combination of local capability and global mining
expertise.
“KMC is one of Canada's largest contract miners with
significant knowledge of the oil sands sector. Together with Thiess’
global experience, asset management and technical capability, this
combination provides an important foundation for our future success.”
1Joint venture is 51% Thiess, 49% KMC Mining.