Fluor Awarded Engineering, Procurement and Construction Management Services Contract for Iluka’s Eneabba Rare Earths Refinery in Australia

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has been awarded a contract for engineering, procurement, and construction management for Iluka Resources Limited's Eneabba project, a rare earths refinery in Western Australia. This contract, valued at an undisclosed amount, will be booked in Q2 2022. The refinery aims to produce approximately 17,500 tonnes per year of rare earth oxides essential for electric vehicles and renewable energy. Construction is set to begin later this year, with first production expected in 2025, enhancing Fluor's role in the critical minerals sector.

Positive

• Awarded EPCM contract for Eneabba project, enhancing Fluor's rare earths capabilities.
• Project supports global electrification by producing essential rare earth oxides.
• Expected production capacity of 17,500 tonnes of rare earth oxides annually.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that its Mining & Metals business was awarded a contract to perform engineering, procurement and construction management (EPCM) for Iluka Resources Limited’s Eneabba project, a fully integrated rare earths refinery in Eneabba, Western Australia. Fluor will book the undisclosed reimbursable contract value in the second quarter of 2022.

Image is a 3D model of Iluka’s Eneabba Phase 3, a fully integrated rare earths refinery. Fluor is the engineering, procurement and construction management contractor with construction expected to begin in 2022, and first production scheduled for 2025. (Photo: Business Wire)

Fluor will complete the front-end engineering design and execute the EPCM services to deliver the refinery. The completed refinery will produce both light and heavy rare earth oxides including neodymium, praseodymium, dysprosium and terbium, which are essential to global electrification. It will have a feed capacity of approximately 55,000 tonnes per annum to produce an estimated 17,500 tonnes per annum of rare earth oxides and will be capable of processing rare earth feedstocks sourced from both Iluka’s portfolio and from a range of potential third party concentrate suppliers.

“Rare earths are critical minerals that provide key inputs to a broad range of technologies including the permanent magnets that are essential for electric vehicles and renewable energy infrastructure,” said Tony Morgan, president of Fluor’s Mining & Metals business. “When completed, the Eneabba project will add significant capacity to an evolving clean technologies ecosystem in Australia.

“The Eneabba rare earths refinery has the potential to become a strategic hub for the downstream processing of Australia’s rare earth resources. Fluor is pleased to be selected as a trusted partner to deliver this strategic project for Iluka. Fluor will build on its successful long-term project delivery experience in Australia and expand the company’s geographic footprint in the rare earths sector. Execution of this project will be a demonstration of our value chain offering in future-facing technologies.”

Fluor’s Perth, Australia office will lead the project. Construction of the refinery is scheduled to begin later this year with first production expected in 2025.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005841/en/

Brian Mershon

Media Relations

469.398.7621

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What contract did Fluor Corporation announce for Iluka Resources in 2022?

Fluor Corporation announced a contract for engineering, procurement, and construction management for Iluka Resources Limited's Eneabba project.

When is construction expected to begin for the Eneabba project?

Construction of the Eneabba project is scheduled to begin later in 2022.

What is the expected production year for the Eneabba refinery?

The first production from the Eneabba refinery is expected in 2025.

What will the Eneabba refinery produce?

The Eneabba refinery will produce both light and heavy rare earth oxides, including neodymium and praseodymium.

How much rare earth oxides is the Eneabba refinery expected to produce annually?

The Eneabba refinery is expected to produce approximately 17,500 tonnes of rare earth oxides per year.