AUSENCO SECURES CHILE CONTRACT

Written on the 3 April 2013

AUSENCO (ASX: AAX) has secured a services contract for a copper project in Chile.

The company has signed the create phase contract to deliver engineering, procurement and quality assurance services (EP services) for a portion of infrastructure works at the Teck Quebrada Blanca, Phase 2 copper project in Chile.

AAX’s Process Infrastructure business has been delivering study and front end design work for both the port and pipeline facilities since 2008 and was recently appointed preferred engineer for the next stage of development.

“We have been successful in winning extended scopes of work on projects and converting early phase activity to additional opportunities along the value chain,” says CEO Zimi Meka.

“This demonstrates the value of our full-service offering, the strength of our client relationships and our reputation for delivering.”

Ausenco has been retained to provide EP services for the port and pipeline facilities, the project’s slurry pipeline, tailings delivery system, raw water and water recovery pipeline and
associated high-pressure pump stations.

The value of the contract is undisclosed.

Quebrada Blanca Phase 2 is in the detailed engineering phase. A construction decision is expected to be made in 2014.

The project is 170 kilometres southwest of Iquique in northern Chile at an altitude of 4,200 metres above sea level.

The project is expected o produce about 250,000 tonnes of copper concentrate and 6000 tonnes of molybdenum concentrate per year in its first five years, if it proceeds.

AAX recently announced a $41.4 million full-year profit for 2012, an increase of 57.1 per cent on the previous 12 months.

The company’s shares were trading slight up early this afternoon at $3.815 per unit.


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