AMEC Begin Work on Molybdenum Project

AMEC has been contracted to help create a CND$450 million (approx £193m) molybdenum mine near Atlin, British Columbia for Adanac Molybdenum Corporation.

The company will provide engineering and procurement services. Detailed engineering and production of working drawings for Adanac's Ruby Creek Molybdenum Project are estimated to take approximately 13 months to complete. Procurement for the facility is required early this year.

"AMEC is one of Canada's most experienced engineering and construction specialists for remote northern projects," states Adanac's Michael MacLeod, President & CEO. In the past 10 years, AMEC has provided detailed engineering and construction management services for nearly 50 mining projects; including the De Beers Victor Diamond Mine in northern Ontario and Teck Cominco's Red Dog Gold Mine in Alaska.

AMEC's Oakville office will conduct the engineering and procurement. Commercial production at the mine is expected in 2009. "As the leading project managers and engineers for mining in the North, we are eager to take on the challenges posed by this interesting and important project," states AMEC's Steve Ciccone, Operations Manager - Mining & Metals.

Molybdenum is used in steel for pipelines, aircraft, missile parts, and filaments. Partially due to demand for steel in China, prices for the metal have increased from about $3/pound in 2000 to about $25.50/pound today. The increase in value of 350% in a year and a half outpaces gold, silver and copper.

AMEC has approximately 4,000 employees operating from 74 offices across Canada.

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Posted 24/01/07

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