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Cimic's Sedgman enters Agreement for Canadian Gold Project Featured

Cimic Group company Sedgman has entered into an interim services agreement (ISA) with Artemis Gold Inc for works at the Blackwater Gold project in British Columbia, Canada.

The ISA, which will generate revenue for Sedgman of approximately $16 million over a two month period, will enable the commencement of detail design and procurement of long lead equipment for the process plant.

It precedes the finalisation of an engineering, procurement, and construction (EPC) contract for the processing plant and associated infrastructure at the project. The EPC contract is expected to be executed by mid-2022 and generate revenue of approximately $312 million for Sedgman over two years.

Cimic Group Chief Executive Officer Juan Santamaria said: “The interim services agreement enables Sedgman and Artemis to commence design and procurement work for long lead equipment and materials and refine the scope of the EPC contract. We look forward to helping Artemis unlock the value of its Blackwater project.”

Sedgman Managing Director Grant Fraser said: “We are pleased to be working with Artemis as it progresses its Blackwater project towards its first gold pour in 2024 and delivers benefits for the region’s economy.”

The ISA will commence in May and is scheduled to be completed in mid-2022.

Source: Hochtief AG

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