Development Contract Signed
February 10 2003 - 5:00AM
UK Regulatory
RNS Number:2640H
Kenmare Resources PLC
10 February 2003
Kenmare Resources plc ("Kenmare" or "the Company")
Kenmare Signs Development Contract
For Phase One of the Moma Titanium Minerals Project
Kenmare has signed an agreement with Fluor Daniel S.A. (Pty) Ltd ("Fluor")
covering phase one of the Moma Titanium Minerals Project. Flour is a subsidiary
of Fluor Corporation, one of the world's largest engineering contractors. This
agreement covers a definition phase prior to the award of a full fixed price
development contract for the building, commissioning and transfer of facilities
at Moma. The definition phase will end on 31st March and it is anticipated that
a turnkey agreement will be signed shortly thereafter.
Fluor's proposal was one of a number of proposals submitted to Kenmare following
an Invitation to Bid which was issued in September. Fluor's submission was
judged to be the most appropriate both in terms of technical merit and cost. It
was decided that there were advantages to moving swiftly into a definition phase
whilst the main points of a full development contract are being agreed.
A Kenmare operations team has already been transferred into Fluor's Johannesburg
office and is working closely with Fluor's project personnel.
For more information:
Kenmare Resources plc
Michael Carvill, Managing Director
Tel: + 353 1 671 0411
Mob: + 353 87 674 0110
Binns & Co PR Ltd
Paul McManus
Tel: + 44 207 786 9600
Mob: + 44 7980 541 893
Judith Parry
Tel: + 44 113 242 1171
Murray Consultants
Tom Byrne
Tel: + 353 1 498 0339
www.kenmareresources.com
10th February 2003
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRILFSIFVIILIV