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2010
- Continued to build the project development team, appointing Dan Ryan as Director of Community Relations, and filling out the EPCM team withPatrick Glynn as Project Manager, Clarissa Barraza as Project Engineer, Ronald Tornberg as Senior Electrical Engineer and Ching-Sheng Hwang as Senior Civil Engineer.
- Placed order for 14 Eimco AFP Mark IV tailings filter presses from FLSmidth for US$31 million. These will be used to filter the tailings slurry to 16% moisture. The filtered solids will then be transported via conveyors to the dry stack tailings facility.
- Currently incorporating the construction work packages (CWPs) into the overall project schedule. This will take several months inpreparation for mobilization and breaking ground next year.
2009
- Completed updated Feasibility Study in January 2009.
- Signed agreement for purchase of 23, 250-ton Caterpillar 793F haulage trucks from Empire Southwest LLC in Mesa, Arizona. Contingent with the agreement both parties agreed on a term sheet for a capital lease of the Caterpillar trucks and other related equipment for an amount up to US$100 million. The contract value between Rosemont and Empire is approximately $82.2 million for the purchase of the 23 trucks, to be delivered in late 2010 and early 2011. Rosemont is not required to deposit cash and not expected to draw on any facility before July 2010.
2008
- Signed US$29 million contract with Polysius Corp. for the purchase and delivery of a 36ft x 17.5ft EGL (effective grinding length) SAG and two 26ft x 40ft EGL ball mills, placing a sizeable deposit on this contract commitment in Q108.The Company was successful in negotiating improved financing and delivery terms from those estimated in the bankable feasibility study published in August 2007, andwas pleased to complete this critical path milestone with an overall positive impact on the project schedule.
- Entered into a US$42 million contract with ABB Switzerland Ltd. for the supply of three gearless mill drives in Q208. ABB's scope of supply includes a 16 MW gearless mill drive system for a 36' diameter SAG mill and two 16MW gearless mill drive systems for 26' diameter ball mills.
- Awarded US$56 million agreement for the engineering, procurement and construction management ("EPCM") contract with M3 Engineering & Technology Corporation for the development and construction of the Rosemont project in Q208. M3 completed the bankable feasibility study for Rosemont in August 2007, so the Company was pleased to be able to move forward with M3 to commence design engineering.
- Awarded $8.6 million contract to Sandvik for primary crusher and $65 million contract to Bucyrus International for three 495HR mining shovels.
- Continued to buildtheproject development team, appointing Rod Pace as Vice-President, Operations, Kathy Arnold as Director of Environmental and Regulatory Affairs, Fermin Samorano as Mine Manager, and Buck Andrews as Controller.
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