Perth-based engineering company GRD Minproc has been awarded construction management contract for an $800.7 million copper and cobalt project in the Democratic Republic of Congo.
Perth-based engineering company GRD Minproc has been awarded construction management contract for an $800.7 million copper and cobalt project in the Democratic Republic of Congo.
The full text of a company announcement is pasted below
GRD Limited today announced that GRD Minproc has been awarded the engineering, procurement, and construction management contract for the development of the Tenke Fungurume Project, in the Katanga Province of the Democratic Republic of the Congo.
The project, which has a capital value of approximately US$650 million, is being developed by Tenke Fungurume Mining, a company of which Freeport-McMoRan Copper & Gold Inc. (Freeport-McMoRan) owns 57.75%. Freeport-McMoRan, which recently acquired Phelps Dodge Corporation, is the world's largest publicly traded copper company and a leader in the production of gold and molybdenum.
The move to the EPCM-phase of the project follows GRD Minproc's successful completion of the pre-feasibility and definitive feasibility studies and reflects the strengthening relationship between GRD Minproc and Freeport-McMoRan.
The Tenke Fungurume project scope will include the development of a mine and associated copper and cobalt processing facilities. Initial copper production is expected to be about 115,000 tonnes per year plus 8,000 tonnes per year combination of cobalt metal and mixed hydroxide.
GRD Limited Chief Executive Cliff Lawrenson said the work on Tenke underlined GRD Minproc's position as an engineering contractor of choice for international companies undertaking major projects in Africa.
"We look forward to delivering value to Tenke Fungurume Mining and Freeport-McMoRan through our extensive copper experience as well as our international project delivery experience, particularly within the African region," Mr Lawrenson said.
GRD Minproc successfully carried out the EPCM work on the award winning Kansanshi Copper Project in Zambia.
Tenke Fungurume is considered to be one of the largest, highest-grade, undeveloped copper/cobalt deposits in the world.
"We are pleased to be working with Tenke Fungurume Mining and Freeport-McMoRan on a project that will bring significant benefits to the people of the Democratic Republic of Congo," Mr Lawrenson said.
