INTERNATIONAL COAL NEWS

Ludowici wins contracts in Mongolia

PROCESSING equipment manufacturer Ludowici has raised its profit guidance after scooping up contr...

Blair Price

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In addition to the Mongolian contracts, which are valued at $A2.7 million, Ludowici said it had won an $8 million contract to supply mineral processing equipment to a “major project” in New South Wales.

The Australia-listed company is expecting $5.8 million in earnings before interest and taxes for the second half after realising $4.2 million EBIT in the first half.

Private Mongolian company Energy Resources plans to ramp up the UHG mine to 5 million tonnes per annum by the end of 2010.

Leighton Asia was awarded a $195 million adjustment to the mining contract last month, taking the total value to $480 million.

The mine in the South Gobi region freights coal 220km by road to China, but railway development is underway along with a 5Mtpa CHPP.

Ludowici shares closed up 16c to $2.63 this afternoon.

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