MUSCAT, DEC 23
Australian-based engineering and project management firm Lycopodium has announced that it has secured a contract to provide Engineering, Procurement and Construction Management (EPCM) services for the Yanqul Copper Gold Project being developed by Mazoon Mining LLC (MMC), a 100 per cent subsidiary of Minerals Development Oman SAOC (MDO).
The contract award marks a key step by Mazoon Mining to unlock the promising copper potential of its vast concession in the Wilayat of Yanqul in Al Dhahirah Governorate. Covering an area of 370 sq kilometres, the concession hosts five mines located at Bishara, Hail Al Safl, Al Jadeed, Al Raki and Asghar.
“We are delighted to be working with Mazoon Mining for the delivery of this important project. Lycopodium prepared the Definitive Feasibility Study for the project in 2020, and it is therefore very pleasing to have this opportunity to now progress to the construction phase,” said Lycopodium Limited’s Managing Director, Peter De Leo, in a statement.
MDO Group CEO Nasser al Maqbali was quoted as adding: “As we congratulate Lycopodium for being awarded the EPCM contract, we look forward to the delivery of a world-class project.”
As part of its contract valued at around RO 12 million, Lycopodium will provide EPCM services for the process plant and related infrastructure and services, in addition to the management of non-process plant related contractors.
At the heart of the project is a 1.65 million tonnes per annum (Mtpa) throughput capacity process plant. Ore from the open pit mines will be channeled to a new onsite processing plant for the production of copper concentrate (in addition to the potential to recover associated gold as well).
Actual work on the Engineering, Procurement and Construction Management phase will commence in Q1 2024 and conclude in Q2 2026, the Australian firm added.
Significantly, the Mazoon project is expected to capitalize on the premium value that copper currently commands in international commodity markets. Together with earnings from the relatively small quantities of gold ore occurring naturally with copper ore, overall revenue from the project is expected to be promising.
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