news

Fluor says selected to provide EPCM services for Eldorado Gold's Skouries project in Greece

Kitco Media
By Vladimir Basov
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.

(Kitco News) - Fluor (NYSE: FLR) announced Thursday that it was selected by a wholly-owned subsidiary of Eldorado Gold to provide engineering, procurement and construction management (EPCM) services for its Skouries gold-copper mining project located within the Halkidiki Peninsula of Greece.

In a statement, Fluor said that it booked its share of the $845 million project investment value in the fourth quarter of 2022.

"The execution of this project will build on Fluor's technical expertise in large-scale gold and copper projects," commented Tony Morgan, president of Fluor's Mining & Metals business. "Fluor is excited to be a part of this important project that will drive economic development in the region and provide the essential raw materials to support the transition to a more sustainable future."

Fluor's scope of work includes infrastructure, non-process facilities, process area and tailings filtration. The project is expected to produce, on average, 140,000 ounces of gold and 67 million pounds of copper annually over its initial 20-year mine life.

Fluor said that its Vancouver office will serve as the lead office for the project with support from its New Delhi and Calgary offices, adding that onshore construction management and detailed engineering will be led by Fluor's office in Greece and executed by a consortium of Greece-based engineering service providers managed on the owner's behalf.

According to a company press release, at construction peak, the project is expected to employ up to 800 local construction workers and create 1,400 long-term jobs over the 20-year life of mine. Construction will begin in 2023 with a total project duration for 2.5 to 3 years and the first production expected in the second half of 2025.

With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies.

Silver production in Peru down 10.2% in November 2022, ministry says
Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

Mdi Earth Logo

Share

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.