ASM awards major contract at Dubbo
PERTH (miningweekly.com) – ASX-listed Australian Strategic Materials (ASM) has awarded a A$46.7-million engineering, procurement and construction definition (EPCD) work contract to South Korean major Hyundai Engineering Co (HEC) for the Dubbo polymetallic projects, in New South Wales.
The EPCD will include a capital and operating cost estimate for the Dubbo project, a detailed project schedule, major project plans and early-stage engineering documentation.
ASM said on Thursday that completion of the EPDC would allow HEC to produce an open book cost estimate for the Dubbo project, which in turn would form the basis of an EPC offer by HEC to deliver the project.
ASM MD David Woodall told shareholders that the company was delighted to have signed the EPCD contract with HEC for the Dubbo project.
“We are thrilled to have HEC, one of the world’s leading EPC firms, seeking to partner with us on the Dubbo project. With this signing, ASM moves one step closer to developing our Dubbo project and progressing our vision for a vertically integrated strategic materials business.”
Previous estimates have placed the capital cost of Dubbo at A$1.67-billion, considering a direct A$1.3-billion capital spend and a further A$208-million indirect spend, based on a one-million-tonne-a-year plant feed and a 20-year mine life.
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