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Fluor Wins $1.3 Billion Mining Contract from Minera Lumina Copper Chile

Fluor Fluor Corporation announced today that the company was awarded a contract by Minera Lumina Copper Chile S.A. to deliver engineering, procurement and construction management (EPCM) services for the company's new Caserones copper mine project in central Chile. Minera Lumina Copper Chile is jointly owned by Pan Pacific Copper Co., Ltd. and Mitsui Co., Ltd. Fluor will book approximately $1.3 billion for the project in the second quarter of 2010.

Fluor will be performing EPCM services for the facilities, utilities & offsites, as well as mine-related infrastructure. At the project site, work will be conducted approximately 13,000 feet above sea level. The project has a marketable output of 3.6 million tons of fine copper and 87 kilotons of molybdenum.

"South America, and Chile in particular, continues to be a robust market for our company in the mining sector and we are pleased that our reputation, both globally and locally, has helped us win significant work in the region," said Dwayne Wilson, group president of Fluor's Industrial business. "We are excited to help Lumina realize the Caserones project."

"Since this project is our first opportunity to work with Lumina, our entire team is focused on executing at a very high level and showcasing our ability to deliver excellent results while maintaining the highest safety standards," said Rick Koumouris, senior vice president and general manager Fluor's Mining & Metals business.

Fluor will execute the engineering for the project from its Santiago, Chile, office with support from other global locations. At peak construction, the project will employ approximately 5,000 local workers. The project is currently underway and has a projected completion date in the third quarter of 2013. When it reaches completion, the Caserones mine project is expected to process around 105,000 tons per day of primary and secondary copper ore.

Fluor Corporation (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.

Published 29/06/2010

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