Viento Awarded $40 million BC Iron contract

THE BOURSE WHISPERER: Viento Group Limited (ASX: VIE) by way of its subsidiary company Viento Contracting Services (VCS) has been awarded a contract with BC Iron (ASX: BCI).

The contract covers the open pit mining, crushing and screening of ore from the Warrigal hub at the mining company’s Nullagine Iron Ore Joint Venture (NJV).

Viento valued the contract at approximately $40 million (excluding GST) for a duration of two years.

“This is an exciting opportunity for Viento to extend our capabilities beyond contracting and into contract mining and processing which has been the planned direction of VCS and in line with the experience of the VCS management team,” Viento executive director John Silverthorne said in the company’s announcement to the Australian Securities Exchange.

“This project will enable VCS to use its capabilities in materials processing, providing the complete service including running the continuous miners, loading, hauling, crushing and screening of the ore.

“The BC Iron award follows the recent successful completion of the NJV’s Outcamp 4 and 5 haul road.

“We look forward to a safe and successful project and to build on our partnership with BC Iron.”

The contract is due to commence from early April 2015.