GR Engineering Services Limited (ASX: GNG) (GR Engineering) is pleased to announce that it has been awarded an engineering, procurement and construction (EPC) contract with Yangibana Pty Ltd, a wholly owned subsidiary of Hastings Technology Metals Limited (ASX: HAS) (Hastings), for a beneficiation plant and associated infrastructure for the Yangibana Rare Earths Project (the Project) in Western Australia.
As previously announced on 3 May 2023, GR Engineering had entered into a binding term sheet with Yangibana Pty Ltd for these works.
The contract sum, including the provisional sum, is $210 million as previously disclosed. GR Engineering has commenced early works up to an agreed capped amount. The EPC contract is conditional on GR Engineering being issued with a commencement notice, which is dependent on Hastings finalising funding for the Project as well as a number of other pre-conditions standard for an EPC contract.
About GR Engineering
GR Engineering specialises in providing fixed price engineering design and construction services to the global resources and mineral processing industries. GR Engineering has a proven track record of delivering integrated project solutions in over 20 countries across all major commodity types. As a group, GR Engineering employs more than 500 professional, technical and support staff throughout Australia and internationally, in addition to a direct construction workforce and subcontracted personnel.
GR Engineering Services Limited is listed on the Australian Securities Exchange (ASX: GNG).
For further information please contact:
+61 8 6272 6000
CFO & Company Secretary
+61 8 6272 6000
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