logo-loader
viewMONADELPHOUS GROUP LIMITED

Monadelphous Group’s Mondium secures $400 million EPC contract with Rio Tinto

Mondium is a joint venture between Monadelphous and Lycopodium to provide engineering, procurement and construction (EPC) services to the minerals processing sector.

MONADELPHOUS GROUP LIMITED - Monadelphous Group’s Modium secures $400 million EPC contract with Rio Tinto
The Western Turner Syncline Phase 2 mine is part of Rio’s Greater Tom Price operations.

Monadelphous Group Limited’s (ASX:MND) investment Mondium Pty Ltd has secured an engineering, procurement and construction (EPC) contract with Rio Tinto Limited (ASX:RIO) valued at approximately $400 million.

The contract is for the design and construction of the Western Turner Syncline Phase 2 (WTS2) mine in the Pilbara region of WA.

Mondium is an incorporated joint venture between Monadelphous and Lycopodium Limited (ASX:LYL) with the former owing 60%.

“Trusted provider”

Monadelphous managing director Rob Velletri said being chosen to partner with Rio Tinto to deliver these important mine expansion works was a great achievement for Mondium.  

He said: “The award illustrates the strong progress Mondium has made in cementing itself as a preferred and trusted provider of EPC services.

“I would like to congratulate all involved in this historic win.”

Mondium will carry out all engineering and design, procurement and site construction work associated with the WTS2 development, including the process plant, overland conveyor and nonprocess infrastructure.   

“Making great strides”

In forming Mondium, Monadelphous and Lycopodium recognised the synergistic benefits of providing an end-to-end EPC delivery business for the resources sector in Australia.

Mondium managing director Andrew Carnie said that the contract was a major strategic milestone for the company in its growth strategy.

He said: “Mondium has been working hard to execute projects successfully and prove our capability.

“We are thrilled to be making great strides in our growth strategy and to have secured this significant contract with Rio Tinto.”

The work will begin in the first quarter of 2020 and is expected to be competed in 2021.

Quick facts: MONADELPHOUS GROUP LIMITED

Price: 16.82 AUD

ASX:MND
Market: ASX
Market Cap: $1.59 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Lake Resources gets "vote of confidence" as partner secures $20 million from...

Lake Resources Ltd’s (ASX:LKE) is buoyed by the news that its partner and provider of a sustainable direct extraction ion exchange process for lithium brine, Lilac Solutions, has secured US$20 million through Bill Gates-led fund Breakthrough Energy. LKE's managing director Steve Promnitz told...

37 minutes ago

2 min read