Fluor Awarded New Mining Work at Barrick Gold's Pascua-Lama Site
Fluor Corporation (NYSE: FLR) announced today that the company was awarded a series of follow-on contracts from Toronto-based Barrick Gold Corp for new scopes of work at the Pascua-Lama mining project located on the Argentina/Chile border. Fluor booked the undisclosed value into backlog in the fourth quarter of 2012.
The new scopes of work included in the award are for overall project management and construction management for the Pascua location on the Chile side of the site, as well as construction management and construction for the Lama location on the Argentina side. The latter two scopes are part of a 50/50 joint venture with Argentinian contractor Techint.
“Pascua-Lama is one of the most significant and challenging mining projects currently underway in the world. We are very pleased to continue our relationship with Barrick Gold following the recent completion of the Pueblo Viejo project and look forward to moving ahead with the next phase of development at Pascua-Lama,” said Rick Koumouris, Fluor's business line lead for Mining & Metals. “The Pascua-Lama mining project will draw on all of Fluor's capabilities and resources and is emblematic of what Fluor excels at – large, remote, complex projects.”
The Pascua-Lama mine site straddles the border region of Argentina and Chile, called the Cordilera, high in the Andes Mountains at elevations ranging from 3,800 to 5,200 meters. When complete, the mine is expected to produce an average of 800,000 - 850,000 ounces of gold and 35 million ounces of silver in its first full five years of operation.
Recently, Fluor completed the Pueblo Viejo gold mining project in the Dominican Republic for Barrick Gold. It was the largest foreign investment in the nation's history and involved a new processing facility for one of the largest undeveloped gold resources in the world.
About Fluor Corporation
For more than 100 years, Fluor Corporation (NYSE: FLR) has partnered with its clients to design, build and maintain many of the world's most challenging and complex capital projects. Through its global network of offices on six continents, Fluor's 43,000 employees provide comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, fabrication, operations, maintenance and project management. Today, the company serves a global client base in the energy, chemicals, government, industrial, infrastructure, operations & maintenance, manufacturing & life sciences, mining, power and transportation sectors. Headquartered in Irving, Texas, Fluor ranks 124 on the FORTUNE 500 list and had revenue of $24.3 billion in 2011. For more information, visit www.fluor.com.
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