IKN

untune that string and hark

The un-named SNC-Lavalin mystery “mining and metallurgy project”…

…as mentioned in its last couple of NRs (e.g. the offering today) is in fact this:

MONTREAL, Nov. 17, 2016
/CNW Telbec/ – SNC-Lavalin (TSX: SNC) is pleased to announce that it
has been awarded an engineering, procurement and construction contract
by Corporación Nacional del Cobre de Chile
(Codelco), one of the largest copper producers in the world, for the
replacement of its effluent treatment plant at the Chuquicamata Copper
Smelter, located in the Antofagasta region of northern Chile. Continues here.

UPDATE: Oh, and this (didn’t realize the full thing was in two bits, TY reader T for the correction):

SNC-Lavalin (TSX: SNC) is pleased to announce that it has been awarded
an engineering, procurement and construction (EPC) contract by
Corporación Nacional del Cobre de Chile (Codelco), one of the largest
copper producers in the world, for the construction of two sulphuric
acid plants at the Chuquicamata Copper Smelter Complex, located in the
Antofagasta region of northern Chile.

 
As well as it being mentioned on the latest ConfCall (SNC did not confirm), according to IKN sources it’s “an open secret in Santiago”. And as it’s an EPC contract it means SNC-Lavalin is on the hook for any costs blowouts, not Codelco. That’s surely the crux of the fun here. We also note that a quick check of the jobs market in South American engineering shows a whole bunch of openings have suddenly appeared at SNC-Lavalin’s Lima Peru office. Probably just coincidence.

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