Sep 23 2004
Ausmelt has signed several smaller contracts, worth a combined $3.2 million, that will provide a solid foundation for its earnings in the current financial year.
The most recent contract has been signed with Young Poong Corporation for the construction of an Ausmelt technology facility at Sukpo in Korea.
Two new furnaces will be built to recover lead and zinc from up to 100,000 tpa of zinc residues generated from Young Poong’s existing operations at Sukpo.
This new contract is the most recent in a growing list of smaller contracts signed over the past three months which include:
- A design and supply contract relating to the installation of a second converting furnace at Anglo American Platinum Corporation in South Africa;
- A design and supply contract relating to the conversion of the Funsur tin smelter in Peru from light fuel oil to natural gas; and
- A contract with a major (undisclosed) Japanese client under which Ausmelt will conduct a series of trials at its pilot plant in Dandenong to confirm the viability of the client’s newly developed and patented process for recovery of valuable metals from an existing metallurgical waste stream.
Mr Paul Abbott, Managing Director of Ausmelt, said: “None of these contracts are individually significant in dollar terms, but together they will make a solid contribution to earnings in the current financial year.
“The Company is actively pursuing a number of larger prospective non-ferrous projects with clients around the globe, and is doing all it can to ensure that these project opportunities bear fruit in the current financial year.”
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