Ausenco preferred for Martabe US$250 million project

Global diversified engineering services group, Ausenco Limited, announced today that its mineral business had been selected as preferred contractor to provide EPC management services for the US$250 million Martabe gold project in North Sumatra.

"We're extremely pleased to be working with PT Agincourt Resources and Martabe's new parent company owner---G-Resources---on such a significant project," Zimi Meka, CEO of Ausenco said in a statement.

Meka said he was pleased to see the gold and silver project return to Ausenco, following its deferral in late 2008 by the mine's previous owner OZ Minerals.

Both companies are in the final stages of documenting the EPCM contract, which should be formally signed by late this month. The Martabe project is expected to produce approximately 250,000 ounces of gold and 3 million ounces of silver in the early years of the mine life. 

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