AUSENCO FEEDS ON PERUVIAN CONTRACT

Written on the 2 June 2011

AUSENCO FEEDS ON PERUVIAN CONTRACT

MINING engineering services company Ausenco (ASX:AAX) has been awarded the front end engineering and design (FEED) contract for a US$920 million copper project in Peru.

The Peruvian Constancia project is owned by Canadian miner HudBay Minerals Inc, and incorporates the development of an open cut mine and construction of a 25 Mt/y copper and molybdenum concentrator with associated infrastructure.

In a statement today to the ASX, Ausenco CEO Zimi Meka (pictured) says the win further builds the Brisbane company’s profile in the key growth market of South America.

“Our team has worked closely with HudBay throughout the past 12 months to optimise key elements of this important project and the award is a pleasing confirmation of the innovative solutions delivered as part of the initial study,” says Meka.

“Following the completion of this innovate phase by early 2012, and subject to HudBay Board approval at that time, we look forward to continuing our work with HudBay to develop the mine, plant and infrastructure for anticipated full production commencing in 2016.”

HudBay recently announced a US$116 million pre-construction program for the Constancia project.

This involves early equipment procurement for long lead items, a resource model update, metallurgy review and pit optimisation study, geotechnical and condemnation drilling and a US$9 million exploration program.

Ausenco expects tol exceed its FY10 financial results of $480 million in revenue and an $8.9 million NPAT, after winning a number of small to medium contracts late last year.

Before markets closed today AAX shares remain steady at $3.12.


Latest News

SUPER RETAIL GROUP SAYS GOODBYE TO AMART SPORTS BRAND

A BRAND synonymous with Australian sporting goods, Amart Sports, will be retired from 1 November 2017. Super R...

SUPREME COURT GRANTS LEAVE FOR CLASS ACTION AGAINST DICK SMITH

A CLASS action law suit against Dick Smith has been given the green light for shareholders impacted by the company...

NEXTDC SHARES SOLD OFF AS ONGOING SPAT WITH 360 CAPITAL CONTINUES

SHAREHOLDERS in data centre operator NextDC (ASX: NXT) have dumped their stock in the company as its ongoing war of w...

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent res...

Related News

SUPER RETAIL GROUP SAYS GOODBYE TO AMART SPORTS BRAND

A BRAND synonymous with Australian sporting goods, Amart Sports, will be retired from 1 November 2017. Super R...

SUPREME COURT GRANTS LEAVE FOR CLASS ACTION AGAINST DICK SMITH

A CLASS action law suit against Dick Smith has been given the green light for shareholders impacted by the company...

NEXTDC SHARES SOLD OFF AS ONGOING SPAT WITH 360 CAPITAL CONTINUES

SHAREHOLDERS in data centre operator NextDC (ASX: NXT) have dumped their stock in the company as its ongoing war of w...

SURVEY SAYS COUNTEROFFERS MIGHT BE A WASTE OF MONEY

TO RETAIN the best and brightest employees it sometimes seems like a good idea to offer more money, but recent res...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter