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Fluor Receives Full Notice to Proceed on Contracts for Conga Mine Project in Peru
Public Company Information:
IRVING, Texas & LIMA, Peru--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that the company’s Mining business received a full notice to proceed for Newmont Mining's (NYSE: NEM) Conga project in Peru. Additionally, a joint venture between Fluor’s Infrastructure business and Odebrecht was awarded the earthworks scope at the Conga project. Fluor is the majority partner of the earthworks joint venture. Fluor booked approximately $1.7 billion and $580 million for the respective scopes of work. Both awards occurred in the third quarter of 2011.
Fluor is providing detailed engineering, procurement and construction (EPC) services for the project which is located near the city of Cajamarca. Fluor has taken part in the previous four stages of development at the Conga project.
“We appreciate Newmont’s confidence in Fluor’s ability to execute tough, complex mining projects in remote regions like Northern Peru,” said Rick Koumouris, senior vice president and head of Fluor’s Mining & Metals business line. “We are proud of our performance on the previous development stages of the Conga project, and our local teams in Peru are already underway executing this project.”
The Conga project consists of the development of two open pit mines including waste rock handling and ore stockpiles, process facility to treat copper/gold ore to produce a concentrate product, infrastructure including tailings management, water management, mine facilities, associated roads and access ways, camps and offices.
When complete, the Conga project will mine and process approximately 570 million tonnes of ore from two gold/copper porphyry deposits located approximately 75 kilometers northeast of Cajamarca. The project site has as an average altitude of 4,080 meters above sea level in Peru’s Andes Mountains.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information visit www.fluor.com.
Keith Stephens, 469-398-7624
Brian Mershon, 469-398-7621
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222