Downer EDI Ltd has issued a release referring to previous announcements in relation to Letters of Award

received from Adani Mining Pty Ltd for the Carmichael Coal Mine Project since 2014. Adani Mining Pty Ltd has announced today it will progress its Carmichael Coal Mine as an owner operator.

“Adani and Downer have mutually agreed to cancel all Letters of Award relating to the mine services and the related infrastructure. Downer will provide transitional assistance to Adani until 31 March 2018.” The Chief Executive of Downer, Grant Fenn, said Downer remained committed to growing its Mining division and continuing to deliver outstanding service for its customers.

Adani’s own statement said: “Adani Australia currently employs over 800 people and has invested over A$3.3 billion in Queensland, which is the biggest investments by an Indian company in Australia. Following on from the NAIF veto last week and in line with its vision to achieve the lowest quartile cost of production by ensuring flexibility and efficiencies in the supply chain, Adani has decided to develop and operate the mine on an owner operator basis. Adani and Downer have mutually agreed to cancel all Letter of Awards and Downer will provide transitional assistance until 31st March 2018. Adani remains committed to develop the Carmichael project and will ensure the highest level of standards and governance. This will not affect our commitment or the number of local jobs across Queensland.”