Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Fluor Corporation (NYSE: FLR) announced today that it has been awarded a contract by Suncor Energy to provide front-end project management and engineering services on the energy company’s MacKay River Phase 2 oil sands project near Fort McMurray, Alberta, Canada. Fluor booked the contract into backlog in the third quarter of 2012 for an undisclosed value.
“This project is an excellent opportunity for Fluor to continue providing our engineering and design expertise on high profile oil sands projects,” said Peter Oosterveer, president of Fluor’s Energy and Chemicals Group. “This region in northern Alberta serves as a significant oil resource for North America and it continues to play a key role in Fluor’s energy business.”
Fluor’s design will include the use of its patent-pending 3rdGeneration Modular Execution approach to perform the project. The modules will be fabricated offsite and delivered to the jobsite to increase project safety, quality and improve schedule delivery.
The design will be completed by Fluor’s office in Calgary, Alberta, with support from its offices in the Philippines.
