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Fluor Bags EPCM Contract In Australia

  • Fluor Corp’s FLR Mining & Metals business has secured a contract to perform engineering, procurement, and construction management (EPCM) for Iluka Resources Limited’s Eneabba project. Financial terms were not disclosed.
  • Eneabba project is a fully integrated rare earth refinery in Eneabba, Western Australia.
  • Fluor will complete the front-end engineering design and execute the EPCM services to deliver the refinery. It will book the undisclosed reimbursable contract value in 2Q22.
  • Construction of the refinery is scheduled to begin later this year, with the first production expected in 2025.
  • Price Action: FLR shares are trading lower by 1.65% at $24.42 on the last check Wednesday.

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