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Adanac Molybdenum awards Ruby Creek Project fabrication contract
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Wednesday, 13 Aug 2008
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Adanac Molybdenum Corporation announced that it has awarded Supreme Steel Limited of Edmonton the fabrication of the Ruby Creek Project Power Plant Building, Crusher Building, Process Building and Maintenance Building, at a total cost of approximately USD 26 million.

The order includes building steel frames, some interior platforms, doors and cladding, which will be fabricated at Supreme's Edmonton and Delta shops. Transportation to the Ruby Creek site is scheduled to start in June 2009.

Mr Peter R Jones CEO of Adanac said that "Our project is the most advanced large scale open pit primary molybdenum mine in the world today and we are on track for a Q4 2010 production start. We plan to complete project funding this year and then start site construction in early 2009."

Adanac has previously ordered long delivery mining and processing equipment to allow the project site construction to start in February 2009 and production to start in Q4 2010. The project equipment and material orders to date total approximately USD 137 million.

It has also previously constructed a road to site as well as installed a 100 man camp and has received all necessary permits to construct the mine. It has previously raised bridge financing of USD 80 million and the process to source the final construction financing is underway.

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