Celsius Resources Ltd - developer of the Maalinao-Caigutan-Biyog copper-gold project in the Philippines - Says its Philippine affiliate Makilala Mining Co Inc has signed a $1.9 million contract of services with Ausenco, aiming to update the feasibility study and conduct front-end engineering design work for the MCB project. Feed includes the tendering of work packages and long-lead equipment procurement for MCB. Says Ausenco’s ‘extensive project experience, particularly in challenging logistics and regulatory environments, positions them uniquely to support the advancement of MCB through its next phase of development’. Adds that the deal was made possible through Makilala’s bridge loan agreement with Maharlika Investment Corp, which is providing up to $10 million in funding for MCB.
Celsius says it expects the combined Feed and feasibility study update to be complete within six months, and says it will engage various complementary engineering service providers alongside Ausenco. ‘The integration of Ausenco and other specialist consultants will produce the updated feasibility study report, supporting enhanced design and planning that may lead to improved operational and capital cost outcomes for the project,’ Celsius explains.
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