Ausenco Minerals Executes Honeymoon Uranium Epcm Contract 1

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12th December 2008, 11:18am - Views: 622





12 December 2008

ASX/MEDIA RELEASE

Ausenco Minerals executes Honeymoon uranium EPCM contract

Ausenco Limited (ASX: AAX) has today executed a contract with Uranium One Australia for
the Engineering Procurement and Construction Management (EPCM) services for the
Honeymoon uranium project in South Australia. The remaining development of the
Honeymoon project will involve capital investment in the order of $70-$80 million.

Ausenco Minerals will be managing the EPCM project from its newly established Adelaide
office and the contract award follows the completion of the initial feasibility study; technical
reviews and engineering program completed earlier this year.

The Honeymoon project is expected to produce about 880,000 pounds of U3O8 per year and
the transition to this next phase follows the successful entry into a joint venture by Uranium
One with Mitsui for this and other projects and associated fund raising of $104 million.

Mr Zimi Meka, Ausenco's Chief Executive Officer said "the contract award follows the
conversion of initial Front End Engineering and Design (FEED) work into a very strategic
EPCM contract for Ausenco in one of potentially the future's largest energy sources,
uranium. Our scope is to engineer and construct the uranium processing plant to produce
uranium to a U3O8 state. The award strengthens the relationship Ausenco has built over
many years with Uranium One.

"This new project combined with the announcement of the award of the Bemax Snapper
Mineral Sands project earlier this week not only strengthens our EPCM order book into 2009
but more than replaces the 2009 revenue contribution from the deferred Martabe and Sepon
projects."
ENDS

Further information Contact:

Zimi Meka Craig Allen
Chief Executive Officer Chief Financial Officer
Ausenco Limited Ausenco Limited
Ph: (07) 3112 8200 Ph: (07) 3112 8200

About Ausenco Limited

The Ausenco group provides world leading engineering, project management, process
controls and operations solutions to the global resources and energy sectors.

From 31 offices in 13 countries, the group combines the expertise, experience and resource
capabilities of 2,900 people to deliver innovative solutions to the minerals, infrastructure,
energy, oil & gas and consulting and environmental sectors across the full project lifecycle,
from front end solutions, through innovative engineering and EPCM delivery to operational
support.


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