Column: China’s commodity import trend driven by prices, not economy
China's imports of major commodities are often viewed through the prism of the performance of, and outlook for, the world's second-biggest economy.
IRVING, Texas, May 03, 2012 (BUSINESS WIRE) –Fluor Corporation (NYSE: FLR) announced today that it was awarded a contract from Teck (NYSE: TCK) to provide engineering, procurement and construction management (EPCM) services for the Highland Valley Copper Mill Optimization project in British Columbia, Canada. Fluor booked $397 million into backlog in the first quarter of 2012.
“Building on the success of our early study work for Teck, Fluor is pleased to continue with the next phase of the Mill Optimization project,” said Rick Koumouris, head of Fluor’s Mining & Metals business line. “As part of the new life of mine plan, these new facilities and upgrades of existing infrastructure will help extend the life of Highland Valley Copper through 2026.”
Highland Valley Copper is an open-pit mine operation that uses a milling and flotation plant to produce copper and molybdenum concentrates. The optimization project is expected to increase copper recovery by 2 percent and increase mill output by 10 percent.
Fluor’s scope of work includes a new pebble crushing facility and a new flotation building with 300 cubic meter tank cells. Fluor will also upgrade the existing grinding circuit, tailings and water supply system.
Fluor recently completed the pre-feasibility study for the modernization project. The project work will be managed by Fluor’s office in Vancouver, B.C.
About Teck
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Further information about Teck can be found at: www.teck.com.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world’s most challenging and complex projects. Founded in 1912, John Simon Fluor Sr. started the company with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.
Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com.
