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Lepidico (ASX:LPD) appoints Lycopodium Minerals (ASX:LYL) to build phase one plants in Namibia and U.A.E.

Materials
ASX:LPD      MCAP $22.91M
19 April 2021 10:50 (AEST)
Lepidico (ASX:LPD) - Managing Director, Joe Walsh

Source: Finance News Network

Lepidico (LPD) has appointed Lycopodium Minerals (LYL) for the construction of its phase one integrated project plants in both Namibia and the United Arab Emirates (U.A.E).

With offices in Australia, South Africa, Canada and the Philippines, Lycopodium operates across a variety of industries and offers integrated engineering, construction and asset management solutions for mineral processing and chemical plant developments.

Under the agreement with Lepidico, Lycopodium will be responsible for the engineering design, procurement of equipment and materials, construction management and pre-operational testing for both the concentrator in Namibia and the chemical plant in the U.A.E.

With the overall contract now in place, it will be separated so that country-specific requirements can more easily be met.

Early services engineering work is expected to begin in mid-May this year following the finalisation of the specific documentation and comes after the completion of engineering work for a definitive feasibility study in May last year.

Joe Walsh, Managing Director of Lepidico, said Lycopodium is the ideal engineering, procurement and construction management (EPCM) partner for the phase one project, with a broad range of capabilities that represent a highly valuable service.

“Progress under the EPCM will provide confidence to the prospective customers and financiers which Lepidico is currently engaged with,” he added.

“The phase one project remains on track for mining to commence in the September quarter 2022 and commercial production to start in 2023.”

Lepidico finished trading last week at 2.4 cents per share, while Lycopodium closed at $5.50 per share.

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