Kvaerner Engineering & Construction has been awarded the contract for the Tintaya copper oxide project in southeastern Peru’s Altiplano district.
The project, held by Broken Hill Proprietary, is Peru’s third-largest copper producer (and sixth-largest producer of gold).
In 1998, Bechtel completed a feasibility study, and another is due in July of this year. Additional engineering work is required, and construction is expected to last about a year.
When the project is finished, it will average 34,000 tonnes of grade-A cathode at a direct cash cost of less than 40 per lb. The oxide project should boost Tintaya production levels to more than 100,000 tonnes a year.
Cathode production is slated to start in early 2002; full production, three months later. Kvaerner is a Norwegian contractor based in London, England. In 1999, the company employed 55,000 people and generated $7.5 billion in revenue.
Anglo-American intends to divest itself of mining supplier Boart Longyear in an attempt to focus on its core business.
“Our association with Anglo-American has seen us grow from a small innovative South African manufacturer of diamond crowns in 1936 to a global organization with operations in every major geographic market,” says Michael Moore, Boart Longyear’s deputy chairman.
Anglo says it will seek a suitable buyer to ensure Boart Longyear’s long-term viability.
“Anglo-American will remain a valued customer, and Boart Longyear looks forward to a continuing relationship on many fronts,” states Moore. “[Boart] is financially sound, and though profits were adversely impacted by the recent cyclical downturn in exploration, it remained profitable, and earnings are returning to normal levels.”
Fugro has acquired the business assets of three leading airborne geophysics companies to form a new division: Fugro Airborne Surveys.
Fugro bought Geoterrex-Dighem, High Sense Geophysics and World Geoscience in a move aimed at upgrading its technical expertise in the area of airborne exploration.
In addition, Fugro signed a letter-of-intent to acquire World Geodass, a South African-based geophysics company.
Fugro Airborne Surveys will specialize in airborne electromagnetics, magnetics and radio exploration. It will also offer petroleum exploration services using airborne flourosensor for offshore basin exploration, as well as high-resolution electromagnetics.
Toronto-based AMR Technologies has won an award for supplying rare earth metals to Korean-based Samsung SDI.
Samsung celebrated its 30th anniversary and the opening of its plasma display panel plant in Chonan City, Korea, by handing out 10 awards to its suppliers. AMR was one of only five foreign suppliers, and the only Canadian company, to be cited.
The rare earth materials provided by AMR are used to produce red phosphors, which generate brilliant colour when used as a coating on computer and TV screens.
AMR reports that its materials are used in 25% of the world’s computer and TV screens. Samsung is the world’s largest producers of such screens.
Be the first to comment on "Kvaerner wins Peruvian contract"