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Thiess expands into Canada
Thiess has established a joint venture with Edmonton-based contractor KMC Mining 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."