WorleyParsons wins contract in Mongolia
Engineering giant WorleyParsons has won a contract to build a copper and molybdenum processing plant in Mongolia.
The company, in a statement on Friday, said it had been awarded the engineering, procurement and construction management contract for the Tsagaan Suvarga project operated by the largest privately-owned firm in Mongolia, Mongolyn Alt Corporation.
WorleyParsons said it expected revenues of about $65 million from the contract, which will involve a 14.6 million tonne per annum copper and molybdenum concentrator and associated infrastructure, including a 280-kilometre power line.
Chief executive John Grill said WorleyParsons recently opened an office in Ulaanbaatar and wanted to secure a long-term presence in the nation.
A mining boom has been underway for several years in Mongolia, which is rich in coal, gold, uranium and copper.
Shares in WorleyParsons were 30 cents firmer at $29.85 at 1324 AEST.
The company, in a statement on Friday, said it had been awarded the engineering, procurement and construction management contract for the Tsagaan Suvarga project operated by the largest privately-owned firm in Mongolia, Mongolyn Alt Corporation.
WorleyParsons said it expected revenues of about $65 million from the contract, which will involve a 14.6 million tonne per annum copper and molybdenum concentrator and associated infrastructure, including a 280-kilometre power line.
Chief executive John Grill said WorleyParsons recently opened an office in Ulaanbaatar and wanted to secure a long-term presence in the nation.
A mining boom has been underway for several years in Mongolia, which is rich in coal, gold, uranium and copper.
Shares in WorleyParsons were 30 cents firmer at $29.85 at 1324 AEST.
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