Bateman Engineering NV (LSE: BATE) today announced that it has been awarded a major mining engineering contract by Equinox Minerals in joint venture with Ausenco.
The contract, estimated to be worth in excess of $200 million in approximately equal proportions to the two joint venture partners, and expected to run over 16 months, is for the implementation phase of the Lumwana Copper Project in Zambia.
Bateman CFO Jonathan Ben-Cnaan said, “We are delighted to have been awarded this major project on the Zambian copper belt. The contract will raise Bateman’s profile in an important and key target market for the group.”
Work will commence immediately with detail engineering of the project. The envisaged processing plant will treat 20 million metric tonnes per annum of ore to initially produce copper concentrate equivalent to 188,000 metric tonnes copper per annum.
Equinox is an international mineral exploration and development company with a focus on base and precious metals and is listed on both the Toronto and Sydney stock exchanges. Ausenco is an Australian based engineering group. The joint venture is the same team that was awarded the 2005 Australian Engineering Excellence Award for the successful completion of the design, construction and commissioning of the Sepon Copper Project in Laos for Oxiana Ltd.
Bateman managing director minerals and metals Pieter du Plessis said, “Lumwana is a significant turn key contract for Bateman. We will be deploying core areas of expertise including procurement, construction and project management underpinned by our technology-driven focus.”
Equinox president and CEO Craig Williams said, “Bateman and Ausenco have the critical technical expertise and African experience necessary to implement the Lumwana Project. The engineering, procurement and construction (EPC) contract will represent one of the last remaining key milestones required to complete project financing, and Equinox looks forward to working with the Ausenco-Bateman team through project development.”
Published by Globes [online], Israel business news - www.globes.co.il - on Thursday, January 12, 2006