Wolf Minerals awards 75m pound contract to GR Engineering Services

6th Mar 2013 12:46

AIM-listed mining company Wolf Minerals has been awarded a 75m pound Engineer Procure Construct contract for the Hemerdon tungsten and tin project to GR Engineering Services.The fixed price, fixed term Engineer Procure Construct contract is for the design, construction and commissioning of a 3.0m tonne per annum (tpa) tungsten and tin mineral processing plant as well as associated infrastructure, forming the key component of the Hemerdon project.The EPC contract with GR Engineering compares very well with the definitive feasibility study (DFS) estimate announced in May 2011, which allowed £77m (A$114m) for the contract scope.Commenting on the contract award, Wolf Minerals Managing Director, Humphrey Hale said: "Wolf is very pleased to continue working with GR Engineering to develop the Hemerdon Project as we have established a good working relationship over the past three years. This is a major achievement for the project team as the Engineer Procure Construct contract was tendered to the market and this result is in line with the Definitive Feasibility Study estimate announced in May 2011."Wolf Minerals' share price was up 11.11% to 22.50p at 12:44 on Wednesday.MF