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11 January 2013
MDM Engineering Group Limited (“MDM” or the “Company”) (AIM: MDM) the minerals process and project management company focused on the mining industry, is pleased to announce that it has signed the EPC contract for the execution of a 2.4 million tonnes per annum (“Mtpa”) gold plant for African Barrick Gold’s (“ABG”) Bulyanhulu Process Plant Expansion project in Tanzania.
ABG is the largest gold producer in Tanzania with a portfolio of four operating mines and is the owner and operator of Bulyanhulu Gold Mine.
MDM successfully completed the bankable feasibility study in December 2011 followed by value engineering in March and April 2012. MDM is now executing the project which includes construction of a new 2.4Mtpa CIL (“carbon in leach”) facility to process tailings reclaimed from the historical tailings concurrently with current flotation tailings.
George Bennett, MDM Executive Director commented:
“We have been working on the Bulyanhulu project since August 2011 and are delighted to have now signed the formal EPC execution contract. The team’s comprehensive gold experience coupled with our in-depth working knowledge of Tanzania, will ensure a streamlined project. We look forward to a successful working relationship with African Barrick Gold.”
Martin Smith (CEO)
George Bennett (Executive Director)
Dominique de la Roche (Finance Director)
Tel: +27 (0) 11 993 4300
Canaccord Genuity Limited
Andrew Chubb / Sebastian Jones
Tel: +44 (0)20 7523 8000
Jos Simson / Emily Fenton
Tel: +44 (0)20 7920 3150
African Barrick Gold:
ABG is a UK public company with its headquarters in London. They are listed on the Main Market of the London Stock Exchange under the symbol ABG and have a secondary listing on the Dar es Salaam Stock Exchange. ABG is Tanzania’s largest gold producer and one of the five largest gold producers in Africa. It owns four producing mines, all located in northwest Tanzania, and several exploration projects at various stages of development. They have a high-quality asset base, solid growth opportunities and a clear strategy of optimising, expanding and growing their asset base. Maintaining ABG’s licence to operate through acting responsibly in relation to its people, the environment and the communities in which they operate is central to achieving their objectives.