GR Engineering Secures Key Contract for the Mungari Future Growth Project

GR Engineering Services Limited (ASX: GNG) has been awarded a significant contract by Evolution Mining Limited (ASX: EVN) for the expansion of the Mungari plant. The project, valued at AU$155 million, aligns with Evolution Mining's commitment to invest AU$250 million in increasing the site's processing capacity from 2 million tonnes per annum to 4.2 million tonnes per annum.

The project is well underway in terms of planning, with initial engineering design and procurement activities already in progress. Site construction is scheduled to commence in mid-January 2024, with an estimated 30-month construction period, including approvals and long-lead items. Commissioning is anticipated to be completed by the end of the first quarter in 2026.

Upon completion, the project aims to achieve a gold production target of 200,000 ounces per annum, resulting in an 18% reduction in Mungari's All-In Sustaining Cost (AISC) to AU$1,750 per ounce, while extending the mine's operational life until 2038. This contract signifies a significant milestone in the growth and development of the Mungari Future Growth Project.

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