The very good aspect about this Bechtel appointment is , altho it is for "only "a role in the Plants ancilliary design needs , it opens up the door for Bechtel to work with both ASM and Hyundai Engineering in their role as well .
As a reminder to myself , I once again looked at the scope of the Hyundai appointment ..see EDIT below
Both South Korean and USA Govts and large private enterprises are likely going to play a huge role in Offtakes and Funding of Toongi ---for purposes of securing long term supply of ...not only rare earths ...but Zirconium , niobium and hafnium .
As well as ASM being "smart "by appointing Bechtel in this ancilliary "design "aspect , there may be some back room discussions with Govt Agencies ( Defense, Energy ) , to spread the involvement between them . Bechtel are huge in Construction ...as are the likes of Posco .
Harking back many many years ago to the Cape Lambert WA Iron Ore Project , Bechtel Pacific was the lead appointed Contractor ---but sub contracted/outsourced many of the Projects specific needs ) ie/Mine Port/PowerStation to other very big Contractors , both Australian and International players .
I think its more likely than not , that will happen when Toongi gets rolling .
Remembering Hyundia are engaged to Engineer, Procure and Contract ...that is separate from Construct.... altho I beleve that would not preclude them from Tendering for one or more aspects where they have experience and expertise !
Within these two major players ..Hyundai and Bechtel ...there will be a heck of a lot of clout with Govt Agencies , which we hope will speed up the funding and offtake windows of opportunity .
Positive vibes from today ..in an otherwise crap market lacking direction .
cheers
Edit from 9th JAN Announcement
ASMH and HEC have negotiated a variation to the EPCD which will allow HEC to commence the EPCD
work in stages.
The overall price of the EPCD remains unchanged at $46.7m and will continue to be paid based on
the delivery of milestones.
This variation has divided the EPCD work into three stages:
• Stage 1 establishes front-end engineering and design activities and progresses with standards
development for $5m,
• Stage 2 further develops engineering design to allow for identification and selection of
technology requirements for $7m, and
• Stage 3 provides for the remainder of the EPCD services to allow HEC to provide an openbook estimate and offer to implement the Dubbo Project under an engineer, procure and
contract (EPC) Contract for $34.7m.
ASMH have issued HEC with a notice to proceed for Stage 1. HEC is expected to complete Stage 1 in
mid-2023, with the overall contract anticipated to complete in the second half of calendar year 2024.
(20min delay)