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WorleyParsons iron ore contract suspended

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WorleyParsons' Kami iron ore EPCM contract has been temporarily suspended.

It follows an announcement by Alderon, the owner of the Kami project, that the required engineering work has been completed, and the project can now shift in to the construction phase.

"In light of the required pre-construction engineering being complete, Alderon has temporarily suspended any further work by its EPCM contractor WorleyParsons," it said in a company statement.

"The internal Kami project team will take over management of all works in progress and continue advancing the Kami Project in preparation for the start of construction once the Company's financing plan is completed."

It went on to state that "we have the in-house experience and expertise to the continue with the next steps, but expect WorleyParsons to resume its role as the EPCM contractor for the Kami Project once a decision to commence construction is reached".

WorleyParsons was originally awarded the contract, valued at $92.5 million, in May last year.

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