Fluor-Led JV Secures Contract To Install Grinding Mill In Indonesia - Fluor (NYSE:FLR)

Fluor Corp FLR stated that the Fluor Petrosea Joint Organization (FPJO) joint venture has been selected by PT Freeport Indonesia to install a new grinding mill at Grasberg copper and gold mining district in Papua, Indonesia. Financial terms were not disclosed.
The Grasberg project is located in the remote highlands of the Sudirman Mountain Range on the western half of the island of New Guinea.
Fluor booked its undisclosed portion of the contract in the third quarter of 2021.
FPJO will construct a third semi-autogenous grinding mill adjacent to the existing milling facilities as the mining district continues to ramp up underground production. With the additional SAG mill, the milling capacity will be approximately 240,000 tonnes per day.
The company noted the construction is scheduled to begin in 2021 and be completed in 2023.
Price Action: FLR shares closed higher by 2.37% at $20.29 on Thursday.