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| Leighton Enters into $750 Million Operating Lease Facility Leighton Holdings Limited today announced that the company has entered into a $750 million fully unwritten revolving operating lease facility with the Commonwealth Bank of Australia (CBA). “The Leighton Group is currently the world’s largest contract miner, mining some 90 million tonnes per annum (mtpa) of iron ore and 90 mtpa of coal. We currently have one of the largest fleets of heavy mining equipment in the world, worth some $1.6 billion in total, of which $500 million is financed using operating leases, ” said Mr Wal King AO, Leighton Holdings' Chief Executive. “The facility provides for early termination of leases, which allows equipment to be returned to the CBA with 3 months notice, after the first 12 months, ” he said. The operating lease facility has common quarterly lease payments for all equipment and caters for all of the group’s Australian based contract mining subsidiaries. write your comments about the article :: © 2006 Construction News :: home page |