TWP Australia awarded EPCM contract for Siana gold project

05 April 2010 | 05:07 Code : 19883 Geoscience events
Red 5 Limited, a Western Australia-based gold exploration company listed on...

Red 5 Limited, a Western Australia-based gold exploration company listed on the ASX, has awarded TWP Australia, the local arm of engineering company TWP of South Africa,  the EPCM contract to develop the plant and associated infrastructure at the Siana Gold Project in the Surigao Gold District of the Philippines.TWP Australia commenced operation in Australia in 2006 as a subsidiary company of TWP Holdings Limited.Founded in 1982, TWP has grown into a highly capable ISO 9001:2000 accredited multi-disciplinary resource and infrastructure focused project design house providing a full range of mining, process, energy, infrastructure and project management solutions.The company has a project portfolio with a capital value of more than US$10 billion and has offices in Australia, South Africa, Zambia, Mozambique, Abu Dhabi and Peru.Following the merger with Basil Read in December 2009, TWP has added Engineering, Procurement and Construction (EPC) capabilities to its EPCM service offering.Red 5 holds a 90% interest in the Siana Gold Project.  The TWP Australia bid was one of several high quality tenders submitted by metallurgical process design consultancies from around the world. The selection of TWP Australia follows an intensive review of the EPCM capabilities of each of these groups.TWP Australia’s innovative project control and scheduling approach, coupled with top class design capabilities, will, says Red 5,  ensure the project’s successful development to first gold pour.A letter of intent has been forwarded to TWP Australia highlighting Red 5’s intention to enter into an EPCM contract, subject to successfully negotiating such an agreement. In the interim, TWP has commenced preliminary engineering work and reviews, including optimisation of the project schedule.The awarding of the EPCM contract will be a major milestone in the development of the Siana Gold Project. Red 5 is currently reviewing open pit mining contract tender submissions.

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