Scots firm Wood to work at one of word's biggest gold mines
Mon June 17 2024
Wood Group has secured an $18 million contract to help support production at one of the world’s largest goldmines.
The Aberdeen-based engineering giant said it will support Newmont, the world’s biggest gold mining firm, to enhance the condition and performance of the Lihir gold mine in Papa New Guinea.
Wood will provide consulting and engineering services to support the safe and efficient processing of gold at various stages of the project life cycle, the company said. The Lihir mine, which is located on Niolam Island in the New Ireland Province, 900km from Port Moresby, employs around 5,100 people and produced 670 Koz of gold in 2023.
Jim Shaughnessy, president of minerals, metals and life sciences at Wood, said: “We have been working with Newmont for over 20 years and are proud to be selected to deliver the Lihir capital works programme.
“The minerals and metals continues to be a key market for Wood – this project lends itself well to our strong expertise in mineral processing and our steadfast commitment to sustainable mining. We’re looking forward to building on our strong relationship with Newmont as we continue to deliver world-class mineral processing projects.”
The contract is effective immediately, with the work being led by Wood’s Brisbane office in Queensland.
Wood’s involvement in the Lihir project has come as it finds itself the subject of takeover interest from the Middle East. Earlier this month the company decided to engage with Dubai-based Sidara over a 230p per share offer for the firm after consulting shareholders. It previously rebuffed three approaches from Sidara, which directors said had undervalued the business. Sidara has until 5pm on July 3 to announce whether it intends to make a firm offer for Wood.
Against a backdrop of uncertainty over its ownership, Wood announced last week that it won a contract to provide engineering services on a flagship gas development in Iraq for TotalEnergies of France.
Source: https://www.heraldscotland.com