Ausenco Limited (ASX: AAX) today announced it had secured an initial three-year contract to manage a portfolio of projects at Newcrest Mining Limited’s (ASX: NCM) Lihir gold operation in Papua New Guinea (PNG).
Ausenco will provide project delivery services to support ongoing capital projects, with the services delivered under an EPCM contract working closely with the Newcrest team.
Ausenco CEO Zimi Meka said the contract was testament to Ausenco’s long and successful relationship with Newcrest, which had developed through working together on projects over the past seven years.
“Growing our levels of recurring revenue is a strategic priority for the business and this contract will add significantly to our sustainable earnings base over the next three years”, Mr Meka said.
“This contract involves Ausenco delivering services across a number of phases of the project and reflects the strength and diversity of our comprehensive solution offering.”
Newcrest’s Lihir operation is located on Niolam Island, the largest island in the Lihir group of islands, in PNG’s New Ireland Province. The gold deposit at Lihir is one of the largest known gold deposits in the world and has produced more than nine million ounces of gold since operations commenced in 1997.