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.
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ASX Release
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:
Tony Patrizi
Managing Director
+61 8 6272 6000
tony.patrizi@gres.com.au
Omesh Motiwalla
CFO & Company Secretary
+61 8 6272 6000
omesh.motiwalla@gres.com.au
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