The extra $180 million deal awarded by Indonesian-owned company PT Gunungbayan Pratamacoal (GBP) builds on Petrosea's initial contract awarded in November 1999, one of Clough's biggest Indonesian deals at the time, which was extended for eight months in May this year. At the end of this current contract (December 31, 2004), Petrosea's work for GBP would have generated nearly $160 million in revenue, with more than 100 million cubic metres of material moved over the past five years.

Petrosea would commit more than $32 million in capital investment over the next two years for new and refurbished major load haul plant and ancillary equipment at the GBP mine site, Clough said. The extended contract boosted the contractor's strategy to expand in Indonesia, it said.

"The extension of the GBP contract further vindicates our strategic decision earlier in the year not to proceed with a planned sell down of the group's interests in Indonesia," Clough chief executive officer David Singleton said.

"This is also part of the group's drive to pursue a multi-market strategy in oil and gas, as well as minerals. We will pursue further opportunities for minerals work in the region through Petrosea and, where appropriate, by promoting our new joint venture with Murray & Roberts."

For the first time "for quite a few years" Petrosea paid a special "catch-up" dividend to shareholders in September, totalling about $5.3 million. This was a result of improved profits and operating cash flows, and a healthier market outlook, the company said. "We are continuing to provide major support to other large mining operations and we also see good prospects for Petrosea in infrastructure development in Indonesia," said Micheil Anderson, Petrosea president director. "We have also taken a strategic business decision to focus on new work in the ownership, construction, operations and maintenance of water treatment facilities, to add to the company's growth."

GBP mines high quality, low sulphur coal, which is exported to Asia and Europe as semi-soft coking coal and high-calorific-value coal.