Join our daily newsletter At The Bell to receive exclusive market insights
- Civmec’s (CVL) Metals and Minerals division has been awarded a civil contract for the Iron Bridge Magnetite Project
- The Iron Bridge Project is the development of a new magnetite mine in the Pilbara region of Western Australia
- In the contract, Civmec will be responsible for the construction of the structural concrete components for the dry plant
- Civmec will commence the works immediately and is expected to finish by the first quarter of 2022
- This new contract takes the company’s order book to approximately $901 million
- Civmec is up 7.50 per cent on the market today, trading for 43 cents each
Civmec’s (CVL) Metals and Minerals division has been awarded a civil contract for the Iron Bridge Magnetite Project.
The project is an unincorporated joint venture between Fortescue Metals Group subsidiary, FMG Iron Bridge, and Formosa Steel IB. The Iron Bridge Project is the development of a new magnetite mine in the Pilbara region of Western Australia.
The mine is to support the production of 22 million tonnes per annum of high grade, magnetite concentrate product.
In the contract, Civmec will be responsible for the construction of the structural concrete components for the dry plant. It will involve over 350,000 square metres of earthworks, the fixing of approximately 5000 tons of steel reinforcement and the placement of around 38,000 metres square of concrete.
This will employ over 200 Civmec workers, which will include local Aboriginal enterprises.
Civmec will commence the works immediately and is expected to be finished by the first quarter of 2022.
CEO Patrick Tallon is pleased with the new contract deal.
“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,” he said.
“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 added.
This new contract takes the company’s order book to approximately $901 million.
Civmec is up 7.50 per cent on the market today, trading for 43 cents each at 12:28 pm AEST.
