STOCK TITAN

Fluor Achieves First Concentrate Production Milestone on Khoemacau’s Copper Silver Project in Botswana

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Fluor Corporation (NYSE: FLR) announced that Khoemacau Copper Mining achieved its first copper and silver concentrate production for its Starter Project in Botswana. Located in the Kalahari Copper Belt, the project is expected to yield an annual average of 62,000 metric tons of copper and 1.9 million ounces of silver over more than 20 years. Fluor managed the engineering, procurement, and construction, including upgrades to the Boseto Processing Plant. The project surpassed safety records with 6 million hours worked without injury and was completed on time and within budget.

Positive
  • Achieved first copper and silver production at Khoemacau's Starter Project.
  • Expected annual production of 62,000 metric tons of copper and 1.9 million ounces of silver.
  • Project completed on time and within budget.
  • 6 million hours worked without a lost time injury.
  • Significant economic benefits anticipated for Botswana.
Negative
  • None.

Fluor Corporation (NYSE: FLR) announced today that Khoemacau Copper Mining (Pty) Limited (Khoemacau) recently achieved first copper and silver concentrate production for its Starter Project near Toteng in Botswana.

Fluor performed engineering, procurement and construction for Khoemacau’s Copper Silver Project in Botswana. See photo of the Boseto Processing Facility. (Photo: Business Wire)

Fluor performed engineering, procurement and construction for Khoemacau’s Copper Silver Project in Botswana. See photo of the Boseto Processing Facility. (Photo: Business Wire)

The project is in the Kalahari Copper Belt and is expected to produce an annual average of 62,000 metric tons of payable copper and 1.9 million ounces of payable silver in concentrate for more than 20 years.

Under the project scope, Fluor provided engineering, procurement and construction management for upgrading the Boseto Processing Plant, a transport corridor and a 40-kilometer water pipeline from the Haka water pump station to Zone 5.

“The transition from construction to operations marks a major historical achievement for Khoemacau and Botswana,” said Tony Morgan, president of Fluor’s Mining & Metals business. “This modern mining and processing operation is expected to deliver substantial economic benefits to the country.”

“We would like to thank the entire Fluor team for their important contribution over the past four years working with us to deliver the project and the production of first concentrate,” said Johan Ferreira, chief executive officer of Khoemacau.

The project recently celebrated 6 million continuous hours worked without a lost time injury. Construction began in October 2018 with more than 1,800 workers on site during peak construction and achieved first concentrate on time and substantially within the original budget.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 44,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $14.2 billion in 2020 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has been providing engineering, procurement and construction services for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

#m&m

FAQ

What did Fluor Corporation announce on July 20, 2021 regarding Khoemacau Copper Mining?

Fluor Corporation announced that Khoemacau Copper Mining achieved its first copper and silver concentrate production for its Starter Project in Botswana.

What are the expected production figures for Khoemacau's Starter Project?

The Khoemacau Starter Project is expected to produce an annual average of 62,000 metric tons of copper and 1.9 million ounces of silver for over 20 years.

What role did Fluor play in the Khoemacau project?

Fluor provided engineering, procurement, and construction management for the Khoemacau project, including upgrades to the Boseto Processing Plant.

What safety milestone was achieved during the Khoemacau project?

The project celebrated 6 million continuous hours worked without a lost time injury.

When did construction for Khoemacau's Starter Project begin?

Construction for Khoemacau's Starter Project began in October 2018.

Fluor Corporation

NYSE:FLR

FLR Rankings

FLR Latest News

FLR Stock Data

9.01B
168.86M
1.38%
92.63%
3.64%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States of America
IRVING