Monadelphous, Lycopodium form JV

Monadelphous Group and Lycopodium will leverage each other's strengths to target engineering, procurement and construction projects in the minerals processing sector under a new joint venture.

The two companies have come together to form Mondium, which will be headquartered in Perth and led by founding Lycopodium partner Bob Osmetti.

Monadelphous will bring its experience in construction for major projects as well as maintenance work in the mining, energy and infrastructure sectors, with Lycopodium contributing its experience in delivering mineral processing projects.

Monadelphous managing director Rob Velletri said Mondium was an integrated partnership between a leading engineer and constructor with the capability, skills and experience required for EPC delivery.

“Mondium has been established specifically to deliver EPC minerals projects domestically and in selected international markets; supporting our strategy to expand our services in our core markets,” he said.

Lycopodium managing director Peter De Leo said Mondium was a collaboration between two groups with track records of quality and surety in delivery in their respective areas.

“Based on our strong prior working relationship and the aligned cultures of each joint venture partner, Mondium will bring to the EPC market an organisation built on the shared strengths and values of both Lycopodium and Monadelphous,” he said.

The two companies said their existing services wouldn’t be affected by the joint venture.

Monadelphous shares were 0.4 per cent higher to $9.82 each, while Lycopodium shares were unchanged at $2.68 each at the close.