Ausenco Awarded Us$130 Million Kinsevere Stage Ii Copper Project 1

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25th January 2010, 01:21pm - Views: 894





25 January 2010

ASX/MEDIA RELEASE

Ausenco awarded US$130 million Kinsevere Stage II copper project


Ausenco Limited (ASX: AAX) today announced it has been awarded a US$130 million
Engineering, Procurement and Construction (EPC) contract to complete the Kinsevere Stage II
copper project for Anvil Mining Limited (ASX, TSX: AVM).

This contract award follows the recent recommencement in July 2009 of the provision of
engineering and design services at Kinsevere, as well as the successful US$200 million debt and
equity refinancing of Anvil, completed in December 2009.

Ausenco CEO Zimi Meka said "Ausenco has been working collaboratively with Anvil to finalise
the well advanced engineering and procurement activities on the project and define a mutually
agreeable scope and terms of the EPC contract.

"Finalising the successful conversion of our engagement to EPC from the previous engineering
and design services contract has taken slightly longer than we had envisaged. Nevertheless it
recognises the successful efforts of both teams and represents an important opportunity and an
indication of increasing confidence in the base metals sector.

"Generally, tendering and pre-qualification activities on a range of potential project opportunities
has increased in recent weeks and we remain confident of Ausenco's growth into 2010 and
2011."

The Kinsevere project was suspended in late 2008 when engineering was substantially complete
and the majority of major procurement contracts had been let. Ausenco recommenced providing
engineering services in July 2009.

The Kinsevere project is a 60,000 tpa SXEW copper project, located 30 km north of Lubumbashi,
the provincial capital city of the southern Katanga province in the Democratic Republic of Congo
(DRC). Kinsevere is majority owned and operated by the Australian based mining company,
Anvil Mining Limited.


ENDS

Further information contact:

Zimi Meka Craig Allen
Chief Executive Officer Chief Financial Officer
Ausenco Limited Ausenco Limited
Ph: (07) 3169 7000 Ph: (07) 3169 7000

About Ausenco Limited

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

From 26 offices in 13 countries, the group combines expertise, experience and resource
capabilities to deliver innovative solutions to the minerals, infrastructure, energy, oil and 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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