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| Fluor receives notice to proceed for Ivanhoe project in Mongolia Fluor Corp announced that the company has reached an agreement with Ivanhoe Mines Ltd. to move forward with full-scale work at its gold and copper mine development project in southern Mongolia. Fluor's scope of work will include overall program management (PM) as well as engineering, procurement and construction management (EPCM) for select portions of the construction of the Oyu Tolgoi mining complex. Fluor booked approximately $1 billion into backlog for the project during the second quarter of 2010. The Oyu Tolgoi project is located in the South Gobi region of Mongolia. The mine is expected to produce 1.2 billion pounds of copper and 650,000 ounces of gold annually for the first ten years. The Mongolian Government holds a 34 percent interest in the Oyu Tolgoi project with Ivanhoe Mines controlling the remaining interest. Fluor will execute the engineering for the project from its Vancouver, Canada and Beijing, China offices with operations being managed on-site in Mongolia. The project is currently underway with engineering expected to reach completion in the first quarter of 2011 and construction completion scheduled for 2013. write your comments about the article :: © 2010 Construction News :: home page |