Ausenco wins Canadian coal contract

ENGINEERING and project management group Ausenco has snared a contract to formulate a development plan to resume operations at Teck Resources’ Quintette coal mine in Canada.
Ausenco wins Canadian coal contract Ausenco wins Canadian coal contract Ausenco wins Canadian coal contract Ausenco wins Canadian coal contract Ausenco wins Canadian coal contract

Image courtesy of Teck.

Staff Reporter

The contract is expected to be worth up to $A20 million in revenue and Ausenco has already started work on initial stages of Quintette’s development.

Full-scale construction activities are due to start early next year, once it moves beyond the permitting and approval process, with start-up some 12 months later in 2013.

Ausenco will be responsible for detailed engineering of the facility, sourcing of materials and equipment, project construction and management, as well as pre-commissioning works.

The contract builds on Ausenco’s previous work at Quintette, which included the feasibility study and early engineering work.

“We have a strong relationship with Teck through our Vancouver-based team,” Ausenco chief executive Zimi Meka said in a statement.

Located in British Colombia, the Quintette coal mine lies on the eastern side of the Rocky Mountain range and operated previously from 1982 to 2000.

It has been a solid six months for Ausenco after posting a net profit to the end of June of $7.7 million, versus a loss of $19.6 million for the same time last year.

Revenue for the half year was a record $257.2 million, up 17.1% over the previous corresponding half, driving growth in underlying earnings before interest, tax, depreciation and amortisation to $16.7 million, compared to a loss of $6.6 million for the six-month period last year.

Shares in Ausenco were up 1.2% or 3c in morning trade on $2.54.

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