Company News Summary
Pilbara Minerals Announces Awards EPC Contract to RCR Tomlinson
Original announcement: Pilbara Minerals awards EPC contract to RCR Tomlinson
Pilbara Minerals announced that it has taken another significant step towards becoming a lithium producer with the award of the engineering, procurement and construction (EPC) contract for its Pilgangoora Lithium-Tantalum Project in WA to RCR Tomlinson. Finalisation of the EPC contract for the 2 mt p.a. lithium-tantalum plant puts Pilbara on track to commission Pilgangoora in the December 2016 quarter of this year. The contract contains an incentivised target cost of A$138m with a guaranteed maximum price of A$148m. These figures are comfortably in line with the estimates contained in the project's Definitive Feasibility Study (+/-15%). The Company's total commitment for Stage 1 is fixed at A$10.3m.
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