Lycopodium wins $62m Newmont contract

Perth-based Lycopodium has been contracted by Newmont Corporation for work on the goldminer’s Ahafo North project in Ghana.

Lycopodium will provide engineering and procurement management services (EPM) to Ahafo North, a greenfield development close to Newmont’s existing Ahafo operations (referred to as Ahafo South), under a $62 million contract.

The project sits about 380 kilometres northwest of Ghanaian capital Accra, close to Newmont’s Akyem goldmine where Lycopodium has previously undertaken work.

The business had also completed work on Ahafo North, including initial study work and engineering design, which managing director Peter De Leo said placed Lycopodium in good stead for the EPM contract.

Development of Ahafo North will include a series of open pits and a 3.4 million tonnes per annum process plant that will use conventional carbon-in-leach technology, Lycopodium says.

The company will now undertake detailed engineering design and procurement services for the process plant and associated infrastructure while Newmont continues with final permitting approvals.

It marks Lycopodium’s third contract announcement for the year, after the business in March was tasked with building a gold process plant in Cote d’Ivoire for Toronto-headquartered Roxgold.

Earlier in the year, Lycopodium secured an engineering, procurement and construction management contract for Vancouver-based Orezone Gold Corporation in Burkina Faso.

Shares in Lycopodium closed up 0.3 per cent on Thursday to trade at $5.54.