SINGAPORE (July 2): Civmec, the construction and engineering services provider headquartered in Australia has won a substantial stand-alone civil contract for the Iron Bridge Magnetite Project, an unincorporated joint venture between Fortescue Metals Group subsidiary FMG Iron Bridge Ltd and Formosa Steel IB.
The contract was awarded to Civmec’s metals and minerals division on Thursday.
This brings Civmec’s order book to a total of A$901 million ($867.5 million).
Civmec’s scope is for the construction of the structural concrete components for the dry plant, including the primary, secondary and tertiary crushing areas, screening areas, air classification and primary grinding areas, course ore stockpile, dry rejects, conveyors and all related earthing.
The Iron Bridge Magnetite Project, located in the Pilbara region of Western Australia, is for the development of a new magnetite mine to support production of 22 million tonnes per annum (mtpa) of high grade, magnetite concentrate product.
“Through our current delivery of works for Fortescue in the Pilbara, we have formed a strong working relationship built on transparency, trust and collaboration and reliable execution. Hence, we are extremely pleased to be given this further opportunity to continue to work with Fortescue on the Iron Bridge project,” says Patrick Tallon, CEO at Civmec.
“This is an exciting project of a very significant scale with a declared value for the overall project being US$2.6 billion ($3.62 billion). The Iron Bridge Joint Venture has demonstrated and refined each step of the magnetite ore processing system and conducted full-scale trials to ensure the effectiveness of the process and gain confidence in the overall project success,” he adds.
Shares in Civmec closed flat at 35.5 cents on Thursday, prior to the announcement.
