Ausenco Limited (AAX) today announced it has been awarded a US$130 million Engineering, Procurement and Construction (EPC) contract to complete the Kinsevere Stage II copper project for Anvil Mining Limited (AVM). This contract award follows the recent recommencement in July 2009 of the provision of engineering and design services at Kinsevere, as well as the successful US$200 million debt and equity refinancing of Anvil, completed in December 2009.
Ausenco CEO Zimi Meka said “Ausenco has been working collaboratively with Anvil to finalise the well advanced engineering and procurement activities on the project and define a mutually agreeable scope and terms of the EPC contract. “Finalising the successful conversion of our engagement to EPC from the previous engineering and design services contract has taken slightly longer than we had envisaged. Nevertheless it recognises the successful efforts of both teams and represents an important opportunity and an indication of increasing confidence in the base metals sector. “Generally, tendering and pre-qualification activities on a range of potential project opportunities has increased in recent weeks and we remain confident of Ausenco’s growth into 2010 and 2011.”
The Kinsevere project was suspended in late 2008 when engineering was substantially complete and the majority of major procurement contracts had been let. Ausenco recommenced providing engineering services in July 2009. The Kinsevere project is a 60,000 tpa SXEW copper project, located 30 km north of Lubumbashi, the provincial capital city of the southern Katanga province in the Democratic Republic of Congo (DRC). Kinsevere is majority owned and operated by the Australian based mining company, Anvil Mining Limited.
Tags: AAX, Ausenco, Mining Services, New contract
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