Fluor Wins FEED Contract for Potash Mining Project in East Africa
January 10 2017 - 4:16PM
Business Wire
Danakali Limited selects Fluor following
competitive bid process
Fluor Corporation (NYSE: FLR) was awarded a front-end
engineering, design and optimization (FEED) contract by Danakali
Limited (ASX: DNK) in Eritrea, East Africa for the Colluli Potash
Project following a competitive tendering process initiated and
completed in 2016. Fluor will book the undisclosed contract value
in the first quarter of 2017.
“Fluor will provide a highly qualified design and optimization
team with world-class process infrastructure credentials for this
important fertilizer project,” said Rick Koumouris, president of
Fluor’s Mining & Metals business. “In addition to working with
Danakali to maximize project capital efficiency during the study
and execution phases of this project, Fluor will bring top-notch
project financing expertise and assistance to help Danakali advance
this project to the next phase.”
“We are delighted to be working with Fluor as we progress the
Colluli project,” said Paul Donaldson, managing director of
Danakali. “The combination of Fluor’s values, people, reputation,
optimization approach, mining and metals expertise, experience in
Africa, and potash-specific experience will benefit the project
significantly as it progresses towards construction.”
Colluli is one of the most advanced greenfield sulfate of potash
developments in the world and demonstrates outstanding economics
including industry leading capital intensity, bottom quartile
operating costs, close proximity to the coast and key markets, and
unrivaled product diversification potential. Sulfate of potash is a
high quality potash fertilizer used for farming crop development
and yield maximization around the globe.
The Colluli deposit is located in the Danakil region of Eritrea,
East Africa. Colluli is approximately 177 kilometers southeast of
the capital, Asmara, and 180 kilometers from the port of Massawa
(230 kilometers by road), which is Eritrea’s key import-export
entry.
Approval of the social and environmental impact assessment for
the project was given by the Ministry of Land, Water and
Environment in December 2016. The award of the Mining Agreement and
Mining License for the project is well progressed.
Danakali is an ASX-listed company and 50 percent owner of the
Colluli Potash Project in Eritrea, East Africa. The company is
currently developing the Colluli Project in partnership with the
Eritrean National Mining Company (ENAMCO).
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering,
procurement, fabrication, construction and maintenance company that
designs, builds and maintains capital-efficient facilities for its
clients on six continents. For more than a century, Fluor has
served our clients by delivering innovative and integrated
solutions across the globe. With headquarters in Irving, Texas,
Fluor ranks 155 on the FORTUNE 500 list with revenue of $18.1
billion in 2015 and has more than 60,000 employees worldwide. For
more information, please visit www.fluor.com or follow us on
Twitter @FluorCorp.
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Fluor CorporationMedia RelationsBrian Mershon,
469-398-7621orBrett Turner, 864-281-6976orInvestor RelationsGeoff
Telfer, 469-398-7070orJason Landkamer, 469-398-7222
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