AUSENCO SECURES AFRICAN ENGINEERING CONTRACT

Written on the 17 February 2014

AUSENCO SECURES AFRICAN ENGINEERING CONTRACT

AUSENCO (ASX:AAX) has secured an engineering contract at an iron ore mine in Sierra Leone.

The Front End Engineering and Design (FEED) contract with Tonkolili Iron Ore Limited is for the phase two expansion of the project, which involved the development of a process plant and related infrastructure.

The group aims to increase production at the mine by 10 million tonnes per annum of concentrate.

Work will commence immediately and is expected to be finished by mid this year.

Ausenco CEO Zimi Meka (pictured) says AAX is expanding its African footprint.

“This contract award further increases Ausenco’s work on hand in the APAC/Africa region, builds upon our experience in West Africa and expands our global experience in the iron ore sector” says Meka.

Ausenco previously operated and maintained Phase 1 of the project from 2011 to 2012, as well as carrying out engineering and procurement for Phase 1b plants.

The expansion will take annual production above current production target of 20 million tonnes of iron ore per annum so as to include the production of a high grade concentrate from 2016.
Tonkolili has a JORC compliant resource of 12.8 billion tonnes.

Initial expenditure for the construction of the concentrator and associated facilities will be funded from existing restricted funds of approximately $300m, with the balance sourced through project level debt finance.


Latest News

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

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