YANDI project must have been started, was expecting confirmation from the co, just like the Roy Hill stage 3 green light for next week. They may put both in one announcement next week.
Forge Group Ltd (ASX:FGE) (“Forge Group”) is pleased to announce it has been awarded a contract for approximately $100 million by Rio Tinto for structural, mechanical and piping works at the Yandi Sustaining Project, 100km northwest of Newman in Western Australia. The Yandi Sustaining Project will expand Rio Tinto’s production at Yandi from 53 million to 56 million tonnes per annum. This will be achieved by mining the Junction South West A and C ore deposits and the continuation of mining at the Junction South East ore deposit. The package of work awarded to Forge Group is for construction of the structural, mechanical and piping components of the Junction South West and stockyards. Site construction will commence in January 2014 and is expected to be completed by December 2014. The scope of work will be undertaken by Forge Group Construction. At its peak, the project will employ a workforce of up to 220 people.
FGE Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held