Roy Hill takes another step

From the AFR:

Downer EDI has been awarded a four and a half year contract worth $500 million with Roy Hill Iron Ore for early mining services at the open cut mine in the Pilbara, Western Australia.

Under the contract, Downer will be doing pre-strip and supplementary mining activity over the initial years while Roy Hill will be undertaking mining on an owner-operator basis.

The contract should be executed by the end of November, Downer said in a statement on Monday to the Australian Securities Exchange.

Come Hell, high water, or collapsing prices, it seems nothing will prevent our Gina’s Roy Hill juggernaut.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.