Ludowici wins contracts in Mongolia

PROCESSING equipment manufacturer Ludowici has raised its profit guidance after scooping up contracts to supply gear for the coal handling and processing plant of Energy Resources’ UHG project in southern Mongolia.
Ludowici wins contracts in Mongolia Ludowici wins contracts in Mongolia Ludowici wins contracts in Mongolia Ludowici wins contracts in Mongolia Ludowici wins contracts in Mongolia

Courtesy Ludowici.

Blair Price

In addition to the Mongolian contracts, which are valued at $A2.7 million, Ludowici said it had won an $8 million contract to supply mineral processing equipment to a “major project” in New South Wales.

The Australia-listed company is expecting $5.8 million in earnings before interest and taxes for the second half after realising $4.2 million EBIT in the first half.

Private Mongolian company Energy Resources plans to ramp up the UHG mine to 5 million tonnes per annum by the end of 2010.

Leighton Asia was awarded a $195 million adjustment to the mining contract last month, taking the total value to $480 million.

The mine in the South Gobi region freights coal 220km by road to China, but railway development is underway along with a 5Mtpa CHPP.

Ludowici shares closed up 16c to $2.63 this afternoon.

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