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Saracen Mineral Holdings Limited (ASX:SAR) has awarded GR Engineering Services Limited (ASX:GNG) an engineering, procurement and construction contract for the Carosue Dam Plant Expansion in Western Australia.
The gold mining company forecasts expansion will boost processing capacity by 33 per cent to 3.2 million tonnes per annum and gold production to a rate of 190,000 ounces per annum in the 2014 financial year.
GR Engineering’s contract is designed to improve mill throughput and energy efficiency at the Carosue Plant and brings the total capital expenditure commitment for the expansion to $23 million.
The expansion is expected to be delivered in 42 weeks with commissioning due in December 2013, which is three months ahead of the original schedule.
Saracen Mineral Holdings reported a net profit of $18.7 million in the 2012 financial year.
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