Sino Iron stockpile contract goes to Forge

MCC, which is overseeing the project, intends to award Forge subsidiary Cimeco the contract for onsite civil works, concrete placement and structural steel installation.The scope of works will include 234,000 cubic metres of earthworks, 11,000cu.m of concrete and a small quantity of rail installation.It won’t be the first time Cimeco has carried out work at the project, with the company awarded its largest ever contract by MCC in November for onsite concrete placement and structural steel installation for the work filter building area.In February, Cimeco was awarded a further $20 million civil and concrete contract for the concentrate terminal at the project.This is in addition to recent contracts awarded by Lynas Corporation for its Mt Weld rare earths project and by Adamus Resources for its Southern Ashanti gold project in Ghana.Forge’s order book now stands at around $300 million.The company has updated its guidance, tipping revenue for the second half of the 2010 financial year to be around 15% higher than the $112 million in revenue posted for the first half.Full-year net profit after tax is expected to be $28-30 million.

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