Lycopodium wins $93M Canadian mine contract
- Lycopodium was awarded a $93 million engineering, procurement and construction management contract for the Blackwater Mine expansion in Canada.
- Following the announcement, shares of the Australian engineering firm traded up to $19.76.
- The expansion project aims to increase total plant throughput capacity to 21 million tonnes per annum.
Australian engineering firm Lycopodium (ASX:LYL) has secured an engineering contract valued at $93 million for the Blackwater Mine expansion in Canada.
The award follows the company's delivery of early engineering design work and Phase 1A services for the open-pit mine.
“We are very pleased to be given this opportunity to continue to work with Artemis Gold in the further development of the Blackwater Mine,” said Lycopodium Managing Director Peter De Leo.
The Phase 2 expansion will add 13 million tonnes per annum of processing capacity to the Canadian operation.
As construction begins in British Columbia, following the announcement, the Lycopodium share price was up at $19.76.
The contract strengthens the company's operational footprint in tier-one mining regions across North America.
Artemis Gold anticipates that the completed expansion will establish Blackwater as one of Canada's three largest gold mines.
