Global mining products and services provider Industrea Limited, announced the signing of a renewal contract by Industrea Mining Services for the hire, service and support of equipment to Xstrata for its Black Star Open Cut mine worth approximately $132m in minimum hours revenue up to December 2013.

Industrea Managing Director and CEO, Robin Levison, said the renewal contract was for the existing fleet of equipment at improved rates.

“We have enjoyed a long term relationship with Xstrata in Mt Isa for its Black Star Open Cut mine having provided equipment and services at that site since 2004. It is pleasing to see this renewal out to December 2013 which demonstrates the importance of the Mt Isa region as the place where the IMS business was founded in 1986,” Mr Levison said.

“Through our commitment to maintenance of the existing fleet we are confident of achieving revenue over the life of the 2 year contract well in excess of the minimum hours subject to operational requirements of the Black Star Open Cut mine,” he said.