Ausdrill subsidiary BTP Equipment has received a letter of intent from Peabody Energy Australia for the award of a preferred equipment supply contract to its mine sites.

Under the contract, BTPE will supply 68 units of mining equipment to Peabody mine sites that are located in key Australian coal precincts in the Hunter Valley, as well as the Bowen Basin.

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BTPE’s supply will be based on a combination of dry hire and fully maintained dry hire.

The contract, signed for a period of four years, is subject only to negotiation and execution of a legally binding contract.

"This is the biggest equipment supply contract for BTPE since Ausdrill acquired the BTP Group in 2012 and is expected to generate substantial annual revenues to BTPE and the Ausdrill organisation."

BTPE general manager Peter Lock said: "We are delighted to strengthen our partnership with Peabody through this contract.

"This is the biggest equipment supply contract for BTPE since Ausdrill acquired the BTP Group in 2012 and is expected to generate substantial annual revenues to BTPE and the Ausdrill organisation."

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The latest contract is expected to build on the existing work of BTPE with Peabody, where the former has been supplying Peabody mine sites with equipment for the last 14 months.

DT HiLoad, another Ausdrill subsidiary, supplies Peabody with lightweight truck trays.

Lock added: "We believe this partnership creates great potential for BTPE and the entire Ausdrill Group to achieve further synergies and grow our relationship with this industry leader."

Peabody Energy Australia is the local subsidiary of coal company Peabody Energy.

Australian supplier of mining equipment parts, sales and rentals, BTPE has locations in Western Australia, Queensland and New South Wales.