MDM Engineering awarded gold plant contract by African Barrick

AIM-listed MDM Engineering is to build a new gold plant for mining group African Barrick Gold (ABG), the company announced on Friday.

AIM-listed MDM Engineering is to build a new gold plant for mining group African Barrick Gold (ABG), the company announced on Friday.

The mining-focused project management firm said that it has signed an engineering, procurement and construction (EPC) contract for the execution of a 2.4m-tonnes-per-annum gold plant for ABG's Bulyanhulu process plant expansion in Tanzania.

After completing the bankable feasibility study in December 2011 followed by value engineering in March and April 2012, MDM is now to start work on the new 'carbon-in-leach' facility to "process tailings reclaimed historical tailings concurrently with current flotation tailings".

MDM's Executive Director George Bennett said in a statement: "We have been working on the Bulyanhulu project since August 2011 and are delighted to have now signed the formal EPC execution contract.

"The team's comprehensive gold experience coupled with our in-depth working knowledge of Tanzania, will ensure a streamlined project. We look forward to a successful working relationship with African Barrick Gold."

FTSE 250-listed ABG is the largest gold producer in Tanzania and has four operating mines. It is the owner and operator of Bulyanhulu.

Recommended

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023