Ausenco: Services Terminated On Rio Tinto's Corumba Project
January 11 2009 - 7:29PM
Dow Jones News
Australian mining engineering firm Ausenco Ltd. (AAX.AU) said
Monday that it expects a 3% fall in its 2009 projected revenue
after Rio Tinto Ltd. (RIO.AU) postponed expansion of its Corumba
iron ore project in Brazil.
Ausenco said in a statement its services on the project,
representing 6% of its projected revenue this year and 7% in 2010,
has been terminated after Rio Tinto's decision.
The firm estimates the net impact on revenue this year will be
less than 3%, when offset by two contract wins in December for
Bemax Resources Ltd. (BMX.AU) and Uranium One.
-By Bill Lindsay, Dow Jones Newswires; 61-2-8235-2956;
bill.lindsay@dowjones.com
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