Jacobs Receives Contract from CODELCO, World Leader in Copper Production Reiterates Commitment to Mining & Minerals Industry
PASADENA, Calif., Aug. 8, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today it received a contract from CODELCO, the National Copper Corporation of Chile and world leader in copper production, to provide engineering services for an anticipated 200,000 metric tons per day copper mine in Chile.
Officials estimate the total installed cost (TIC) at $4.5 billion.
Under the terms of the contract, Jacobs is providing engineering services for Phase II of the Radomiro Tomic (RT) sulfides mine and the new and independent concentrator facility. The conventional concentrator plant is expected to have two 40-foot SAG (semi-autogenous grinding) mills and four conventional ball mills; a 160-kilometer desalinated water pipeline; booster stations; a desalination plant; a thickened tailings management facility; a 270-kilometer concentrate transport pipeline; and power infrastructure.
Jacobs is committed to growing its mining and minerals business in South America, particularly in Chile.
CODELCO Vice President of Projects Sergio Fuentes said of the award, "This is a long term strategic decision and an opportunity for us to work with a world class company committed to providing quality services."
In making this announcement, Jacobs Chairman of the Board Noel Watson stated, "We are very impressed by the quality of leadership at CODELCO and the compatibility of our business cultures. Jacobs is committed to supporting them in achieving their business vision and long term goals. We are thrilled at the opportunity to establish a long term relationship with CODELCO and grow our presence in Chile."
CODELCO is an autonomous company owned by the Chilean state. Its main business is the exploration, development and exploitation of copper mineral resources and by-products, as well as their processing to refined copper and its commercialization. The company controls approximately 20 percent of the world's copper reserves.
Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2011 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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SOURCE Jacobs Engineering Group Inc.