Lycopodium Wins A$93 Million Contract for Canadian Gold Mine
Synopsis
The engineering group will deliver EPCM services for Artemis Gold's Blackwater Mine expansion, strengthening its position in one of Canada's largest gold projects.
Key Highlights
- Lycopodium (ASX: LYL) won a A$93 million EPCM contract at Blackwater Expanded Phase 2 Project in Canada.
- This expansion will increase processing capacity at the mine to 21 million tonnes per annum (Mtpa), an additional 13 Mtpa.
- Lycopodium had designed the project in Phase 1A and front-end engineering design (FEED).
- Early works are well underway, with large section of earthworks advancing.
Lycopodium (ASX: LYL) has received a A$93 million Engineering, Procurement and Construction Management (EPCM) contract for Artemis Gold’s Expanded Phase 2 (EP2) Project located at the Blackwater Mine in Canada.
The project will expand the processing capacity at the mine to a total of 21 million tonnes per annum, increasing production and ranking Blackwater as one of the three largest gold mines in production capacity in Canada.
Lycopodium has market experience in provisions for the EP2 project as they previously provided Phase 1A and front-end engineering design (FEED) services for this.
Expansion Strengthens Canadian Presence
Lycopodium has several large projects in North America, including the Blackwater Mine, located in central British Columbia. Its Canadian business will be pivotal in driving the expansion of the mine to further underpin its footprint in the country, said the company.
The Managing Director and Chief Executive Officer Peter De Leo said the company was pleased to continue its ongoing work with Artemis Gold on the project. And we are very excited to receive this opportunity to continue working with Artemis Gold on the advancement of the Blackwater Mine.
Blackwater is a world-class tier one mining jurisdiction, and our participation in this mine’s expansion represents a significant domestic project for our Canadian-based business, he added.
Construction Already Underway
Lycopodium will manage the engineering, procurement and construction of theexpanded processing plant.
The company also stated that early works for EP2 are now well progressed, with construction proper recently starting. Lycopodium continues to diversify its project pipeline, working across mining and other sectors in Australia and internationally with this contract.
Source: Motley Fools
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
You Might Also Like
Australia job vacancies rise 2.7% after months of decline
Jasprit Bumrah: India’s Game-Changing Fast Bowler and Cricket Innovator
