- Fluor Corp’s (NYSE:FLR) Mining & Metals business has secured a contract to perform engineering, procurement, and construction management (EPCM) for Iluka Resources Limited’s Eneabba project. Financial terms were not disclosed.
- Eneabba project is a fully integrated rare earth refinery in Eneabba, Western Australia.
- Fluor will complete the front-end engineering design and execute the EPCM services to deliver the refinery. It will book the undisclosed reimbursable contract value in 2Q22.
- Construction of the refinery is scheduled to begin later this year, with the first production expected in 2025.
- Price Action: FLR shares are trading lower by 1.65% at $24.42 on the last check Wednesday.
Buffett-backed Chinese EV Maker BYD’s IPO Plans For Chip Unit Hampered By Regulatory Probe: Report
Chinese regulatory scrutiny has come to haunt companies across sectors and the latest to suffer from the increased oversight is Warren Buffett-backed EV manufacturer BYD Company Limited (OTC: BYDDF).
