Turkey top envoy goes to Niger in bid to secure uranium supplies
The trip comes after Niger’s military government withdrew mining rights from Canadian and French companies to develop uranium deposits.
Aecon Group, Canada largest construction firm, announced Monday that its Lockerbie and Hole Eastern Division has signed a letter of intent with the Potash Corporation of Saskatchewan for a project valued at over $250 million to install the interior of a new process mill at the PotashCorp mine site near Rocanville, Saskatchewan.
The scope of work for the project includes the installation of all utilities and equipment for the new mill, including the process piping, electrical, mechanical, instrumentation, HVAC, and all processing equipment in the mill, where potash ore from the nearby mine will be processed.
The project will create approximately 800 jobs at the construction site said Aecon in a press statement. Site preparation is expected to begin in early 2012 and this portion of the project is scheduled for completion in the fall of 2013, ready to turn over to PotashCorp for commissioning and startup.
Monday’s announcement builds on last month’s award of a similar project on a smaller scale at the PCS Picadilly mine in New Brunswick. This project brings the total value of projects announced by Aecon since September for a number of clients to over $850 million. TSX-listed Aecon is up almost 30% since the start of September and is worth $535 million on the Toronto bourse.
“Our Lockerbie and Hole Eastern division has more than 40 years of experience installing the complex mine site equipment and systems needed to operate processing plants like this one,” said Teri McKibbon, Aecon’s Chief Operating Officer. “People around the world rely on Canada and PCS to mine and process potash. We are extremely proud to be part of an industry that helps put this country on the world stage.”
Reuters reported on Aecon’s financial results earlier in November saying a number of recent meaty contract wins in Western Canada’s resource sector and an internal revamp have helped spark a revival in Aecon’s fortunes after a cost blow-out on a big oil sands contract earlier this year and the resignation of a top executive.
