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:: Ausmelt Wins New Copper Smelter Contract in China
Ausmelt Ltd has won its seventh copper smelter contract in China. The Company will supply design services and core equipment for a copper smelter with a production capacity of 100,000 tonnes a year of cathode copper. The client is Xinjiang Wuxin Copper Co., Limited and the new smelter will be located in China's Xinjiang Province.
Under the contract, Ausmelt will provide copper smelting technology, design engineering services, commissioning services and equipment. The project is Ausmelt's 12th plant to be built in China for various base metals. The contract price is confidential but will provide material revenues and profits to Ausmelt over the next two to three years.
Wuxin General Manager, Mr Sun Baohui, said Wuxin was very pleased to have finalized the technology selection for this critical project and was looking forward to successful project implementation using Ausmelt Technology. "This copper smelting project is a clear priority for development of our business and will bring economic and community benefits to the Xinjiang Uighur Autonomous Region. We are pleased that Ausmelt.s technology transfer package methodology will enable us to fast-track implementation of the project to bring these benefits on stream in the quickest possible time".
Ausmelt Managing Director, Mr Paul Abbott, said Ausmelt was delighted to have signed another major contract despite the prevailing volatile economic conditions in world metals markets. "Ausmelt's Top Submerged Lance (TSL) technology is now widely recognized as one of the leading processes for copper smelting and that puts the Company in a strong position to win work despite a difficult market".
Ausmelt's order book remains strong with $48 million in contracted revenue yet to be recognized.
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