Ausenco Limited
Ausenco Limited
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Canadian specialist FCC’s drive to become the first North American refiner of battery grade cobalt sulfate continues to progress with the initiating of a scoping-level capacity study for the restart of its 100%-owned First Cobalt Refinery in Ontario.
New Century has awarded CIMIC Group company Sedgman a $A40M EPC contract to refurbish and recommission the process plant and port facilities for its Century zinc project in N Qld, Australia.
It's also named Ausenco preferred bidder for the $1.7M contract to refurbish and recommission the project's 304km slurry pipeline.
With $42M in other capital works contracts to come, New Century says it remains on track for operations to commence in the Sept 2018 qtr.
New Century awards further works contracts to keep its refurbishment and re-establishment of the giant Century zinc mine in Australia on track for production in the September quarter.
OZ Minerals' approval of the $A916M development of the Carrapateena copper-gold project in South Australia marks the start of final negotiations on a lump sum contract by key construction contractor NRW.
NRW has been working with OZ under the project's early contractor involvement structure on firming up cost issues, design optimisation, sequencing and scheduling for the $A111M Package 1 covering Carrapateena's western access road, tailing storage facility, quarry and airport construction.
OZ Minerals makes a significant step towards realising its strategy of becoming a multi asset miner with board approval for the $916M development of the Carrapateena copper-gold mine in South Australia.
EMH has appointed Ausenco as lead engineer to the PFS for its 100%-owned Cinovec lithium-tin project in Czech Republic.
The PFS, due for completion early in 2017, will pave the way for a DFS also next year targeting an initial 20,000tpa of lithium carbonate with associated tin, tungsten and sulphate of potash credits from the globally significant 5.7Mt resource.
Australian-based international engineer Ausenco has cut forecast revenue for the year to Dec 2016 by nearly 20% to $A230-240M after posting below-forecast June qtr revenue of $44M due to project delays, extended payment imposed by some clients and internal restructuring costs.
The company, which has agreed a privatisation deal with Resource Capital Funds, says it's also facing non-cash adjustments of $40-50M in the June half for goodwill and other impairments.
International private equity firm Resource Capital Funds has reached agreement with Ausenco on a scheme of arrangement to privatise the Australian-based global engineering, construction and project management company. Shareholders are likely to vote on the deal in late Aug.
RCF VI is offering $A0.40 cash per share - 18% above the June 13 closing price and representing an implied enterprise value of $153.7M. Key Ausenco personnel including CEO Zimi Meka and second largest shareholder Duro Felguera (14.5%) will retain their shareholding.
Global engineer Ausenco has begun a $C86.34M fixed price EPC contract for Atlantic Gold's Moose River Consolidated gold project in Nova Scotia, Canada. The 2Mtpa gold processing plant and other infrastructure is due for completion by Q4 2017.
Atlantic is finalising project financing, including new equity and debt funding. Ausenco CEO Zimi Meka says interest in developing and financing gold projects is quite strong despite market volatility.
Australian international engineer Ausenco has fallen to NLAT of $A86.1M for the year to Dec 2015, out from its $25M loss a year earlier. The result included $60.1M impairments on weak oil & gas markets, adverse economic conditions in Brazil and Argentina.
Full year revenue fell to $245.8M (FY2014: $357.2M). With $256M forward work in hand, Ausenco is forecasting FY2016 revenue of $280-300M in continuing challenging markets.