This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Fluor Awarded Contract For Udokan Copper Project In Russia

Fluor Corporation (NYSE: FLR) announced today that it was awarded an initial contract by Baikal Mining Company (as part of METALLOINVEST) for the definition phase of the Udokan copper deposit development project in Russia. Fluor booked the undisclosed contract amount in the third quarter of 2012.

Baikal Mining Company commenced work on the definition phase study with Fluor Canada Ltd and it is expected to continue through the remainder of 2012. The start of feasibility study services is anticipated for first quarter 2013 and last for approximately 12 months. The work is being executed from Fluor’s Vancouver, Canada office with support from the Farnborough, United Kingdom and Moscow, Russia offices.

“This is a strategic win for Fluor in this key region,” said Rick Koumouris, senior vice president and Fluor’s Mining & Metals business line lead. “We are glad that our customer recognized the value of our diverse global mining experience as well as our world class safety culture that will help them accomplish this project.”

During the definition phase, Fluor will develop and perform a metallurgical test work program, and will implement the trade-off studies required to prepare design criteria and scopes of work for the subsequent stages of the international feasibility study for the Udokan copper project.

The Udokan deposit, situated in the Kalarsky Area of Russia’s Zabaikalye Region, is one of the largest undeveloped copper deposits in the world. Baikal Mining Company was established in 2008 specifically for the implementation of the Udokan copper deposit development project.

Alisher Usmanov’s USM STEEL & MINING Company which owns 50 percent of the shares is the major shareholder in METALLOINVEST Company. Other major shareholders are Vladimir Skoch’s Seropaem Holdings as well as VTB Bank which own 30 percent and 20 percent of the shares, respectively.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, the company was started by John Simon Fluor Sr. with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100 th anniversary during 2012.

Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,053.57 -44.88 -0.26%
S&P 500 1,999.75 -3.62 -0.18%
NASDAQ 4,589.9190 +9.6480 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs