Fluor Daniel and SADE, an Argentine construction company, have been
jointly selected by Cerro Vanguardia S.A., an Argentine company, to
provide basic engineering, project management, engineering, procurement
and contracting, and construction services for Cerro Vanguardia, a $237
million grassroots gold and silver mine and processing plant in the
province of Santa Cruz, Argentina. The joint venture’s scope of work on
the project is worth approximately $120 million.
A feasibility study of the area, completed in 1996, estimates mining
reserves to be at 9.3 million tons, containing 2.7 million ounces of
gold and 27.2 million ounces of silver. Production is scheduled to
commence in mid-1998, with full production levels being reached by
year-end. Employment levels for operations will peak at approximately
300 persons.
Fluor Daniel’s Mining & Minerals operating company, in conjunction with
SADE, has begun design of the processing facilities and support
infrastructure, which include auxiliary buildings, roads and services.
"This is Fluor Daniel’s second major undertaking in Argentina, and we
are extremely pleased to have been chosen to work on this project," said
Phil Asherman, president of Fluor Daniel’s Mining & Minerals operating
company. "Our continuing relationship with SADE and current work on the
Minera Alumbrera project have provided Fluor Daniel with a strong
platform for success, and we look forward to continuing to contribute to
the economic strength and growth of this country as we take on more
projects."
Cerro Vanguardia S.A. is a company with ownership shared by Fomicruz
(Fomento Minero de Santa Cruz S.E.) with 7.5 percent, and the Minorco
and Perez Companc Groups equally sharing the balance.
Fluor Daniel Inc., the principal subsidiary of Fluor Corporation, is a
global engineering construction and diversified services company with
more than 60 offices worldwide.
