Finning International Inc. (TSX:FTT) has signed a $140 million contract with Antofagasta Minerals SA to provide 59 mining trucks and equipment.
The equipment is for Antofagasta's Esperanza open-pit copper and gold mine in northern Chile. Production from the project, which is under construction, is expected to begin in late 2010.
More than 60% of Finning's equipment will be delivered in January 2008. The rest is scheduled to be delivered in 2009 and 2010, closer to when the mine becomes operational.
Finning's share price range during the past week: between $29.75 and $31.39; 52-week high: $32.62; 52-week low: $18.29.