vale/inco $90 mill oz contracts for traydor

Hi Traydor,
As requested.

Australian companies awarded $90M contract

Monday, 9 March 2009
Kristie Batten -- MINING NEWS --

VALE Inco has awarded Transfield Services WorleyParsons Nouvelle Caledonie a three-year $A90-million contract for asset management and sustaining capital works at the massive Nouvelle-Caledonie nickel-laterite project in New Caledonia.

The contract is an extension of $17-million worth of mobilisation, completion and commissioning services the joint-venture company has completed since early 2008.

The 50:50 joint venture between Transfield and WorleyParsons will provide maintenance services, project engineering, subcontractor and planned shutdown services.

The Nouvelle-Caledonie nickel-laterite project has reserves of 55 million tonnes and will produce an estimated 60,000t of nickel and 4300-5000t of cobalt per annum from this year.

Vale Inco is a wholly owned subsidiary of Brazilian mining giant Vale.

Shares in Transfield were 4c down to $1.56, while WorleyParsons shares jumped 5% or 78c up to $15.63.