28/05/2012 - 13:58

Lycopodium JV wins Rio contract

28/05/2012 - 13:58

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Rio Tinto Iron Ore has awarded a contract to manage the expansion of its Nammuldi iron ore mine in the Pilbara, to a joint venture between Lycopodium and URS Australia.

Their joint venture company, Pilbara EPCM, has been awarded the engineering, procurement and construction management contract for the project, which is scheduled to be completed late in 2014, subject to final regulatory approvals.

The project will extend the life of the Nammuldi mine, located 60km north of Tom Price, and boost annual capacity from 6 Mtpa to 16 Mtpa.

The project is part of Rio’s plans to increase output from the Pilbara to 283 Mtpa, and represents the first phase of a program aiming to double output of the Greater Nammuldi mine to 32 Mtpa.

Pilbara ECPM was established to provide Rio Tinto with engineering, procurement and construction management as part of the latter’s Pilbara expansion plan.

Lycopodium has previously won contracts from Rio to upgrade plant at the Marandoo mine, and engineering, procurement and construction management for its Hope Downs North and South mines.

Lycopodium recently upgraded its revenue and profit forecasts for the second half of the financial year, with revenue expected to reach $236 million and after tax profit to hit $22 million.

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