Perth-based engineering company Lycopodium (ASX:LYL) has signed a formal Feasibility Study and basic engineering agreement with Barrick Gold (NYSE:GOLD) for the Reko Diq Copper-Gold Project in Pakistan.
The company reports it will partner with Barrick to deliver the overall Feasibility Study for phases one and two of the project to support the NI 43-101 technical report. Lycopodium will also partner with the Barrick project team for the coordination and interface management of all Barrick-engaged sub-consultants providing inputs into the Feasibility Study.
Basic engineering will only be performed in phase one of the project, applying to the process plant and associated plant infrastructure. Lycopodium reports work is ongoing, with the Feasibility Study scheduled for completion in Q3 2024, while basic engineering work will begin in October 2023 and will finish in Q2 2025.
The contract for the Feasibility Study and basic engineering scope of the project is valued at around $55 million
The contract for the Feasibility Study and basic engineering scope of the project is valued at around $55 million. The Reko Diq Copper-Gold Project lies within the Tethyan Belt in the northwest corner of Pakistan’s Balochistan province and is considered one of the ‘largest’ undeveloped copper-gold deposits in the world.
Lycopodium is an ASX-listed company that specialises in providing integrated engineering, construction, and asset management solutions across the resources, energy, renewables, rail, manufacturing, agriculture, and pharmaceuticals sectors.
The company has the capability to deliver projects around the world and has offices in Australia, South Africa, Canada, Ghana, and the Philippines.
Write to Harry Mulholland at mining.com.au
Images: Lycopodium Ltd
