DMC Mining Services, the 100% owned mining services subsidiary of Quadra FNX Mining Ltd. (TSE:QUX),signs a contract to develop two new mine shafts at BHP Billiton’s (NYSE:BHP)Jansen Potash Project near Saskatoon, Saskatchewan.
The press release is quoted as saying:
The total value of the contract is estimated at approximately US$400 million. Over the five year contract period DMC is expected to receive a combination of fixed and variable fees based on a percentage of the total contract value. The ultimate margin DMC will earn on the project is dependent on certain performance criteria including safety, schedule and costs.