Fluor/AMEC JV Wins Canadian Mining Contract
Fluor Corporation announced today that Terrane Metals Corp. (TRX: TSX-V) awarded British Columbia Mining Joint Venture (BCMJV), a 50:50 joint venture between Fluor Canada Ltd and AMEC Americas Limited, a contract to perform engineering, procurement and construction management (EPCM) services for Terrane's 100 percent-owned, $915 million (CAD), Mt. Milligan copper-gold project. Fluor will book its share of the initial portion of the contract in the second quarter of 2010. Full release is expected in first half of 2011.
The Mt. Milligan project is located approximately 150 kilometers northwest of Prince George, British Columbia. Fluor and AMEC will jointly provide the EPCM services for a 60,000 tonnes per day copper flotation process plant, tailings storage facility, ancillary plant facilities, 92 kilometers of electric power transmission lines and a 600-person construction camp.
"With the selection of Fluor and AMEC as our EPCM contractors, we have secured the services of an outstanding British Columbia-based engineering, design and construction management team," said Robert Pease, president and chief executive officer of Terrane. "This team has earned global recognition, from mine builders and mine lenders alike, for their ability to deliver large-scale projects like Mt. Milligan on-schedule and on-budget."
"We are very pleased to be working with Terrane on the Mt. Milligan project. Our joint venture with AMEC will allow us to leverage the design-build capabilities of the two largest British Columbia-based EPCM contractors and in doing so provide an unequalled pool of experienced people, services and local know-how to the project," said Dwayne Wilson, group president of Fluor's Industrial business line. "Our highly motivated team has a track record of successfully completing similar projects around the world."
The Mt. Milligan project will be a conventional truck-shovel open pit copper-gold mine and will provide about 400 direct permanent jobs and significant long-term economic benefits for the region.
Terrane Metals Corp
. is an exploration and mine development company focused on the development of the Mt. Milligan copper-gold and Berg copper-molybdenum-silver projects in British Columbia, Canada. Goldcorp Inc. (GG: NYSE; G: TSX) owns a 52.4% equity interest in Terrane on a fully diluted basis.
(NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenues of $22 billion in 2009.
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