Fluor power plant project for Newmont Mining earns honor

Fluor Corporation announced October 12 that it was awarded the Project Management Institute’s (PMI) 2009 Project of the Year Award for work performed on Newmont Mining Corporation’s 242-megawatt (MW) TS Power Plant project in northern Nevada. The TS Power Plant supports Newmont Nevada’s gold mining operations. Fluor’s scope of work for Newmont included planning, engineering and executing the project from 2004 to 2008. PMI’s Project of the Year Award is the organization’s highest honor and it is widely recognized as the world’s leading membership association for the project management profession.

Following an extensive screening process, Fluor’s TS Power Plant project for Newmont was selected from among hundreds of high profile, complex projects completed around the globe. The award was presented to Fluor executives, project team and representatives from Newmont on October 10 during PMI’s 2009 Global Congress in Orlando, Fla.

Beginning in July 2004, Newmont contracted with Fluor for the engineering, procurement, construction and commissioning of the 242 MW coal-fired power plant as well as a 100-acre evaporation pond; five-mile railway spur; five-mile electricity transmission line to connect to the grid; three-mile raw water pipeline; and a railway switchyard. The completed plant was expected to reduce Newmont’s electrical power costs by approximately $70 million per year.

“At Fluor, we feel that project management is one of our key differentiators in the marketplace. To be recognized by PMI and our peers for a second time in three years is a testament to the way our teams execute with excellence,” said Fluor Corporation’s chairman and chief executive officer Alan Boeckmann. “We are honored that our client, Newmont Mining, would think enough of our work to support our nomination for this prestigious award. This recognition is a tribute to the hard work, dedication and innovation of the combined Newmont/Fluor team.

Newmont's executive vice president for discovery and development, Guy Lansdown, said, "In addition to being one of the most environmentally responsible coal-based power plants in the nation, the TS Power Plant's construction was a model for worker safety. Newmont's contractors and employees should be proud of this signature achievement as it will help us achieve our mission to build a sustainable mining business that delivers top quartile shareholder returns while leading in safety, environmental stewardship and social responsibility."

“Fluor’s TS Power Plant team strived to achieve excellence through all facets of the project and demonstrated how a detailed project management methodology, combined with a passionate and engaged team, can help deliver a project promptly and efficiently,” said Gregory Balestrero, president and chief executive officer of PMI. “PMI commends Fluor and the project team for these outstanding results with the 2009 Project of the Year award.”

Other unique aspects of Fluor’s work on the TS Power Plant project for Newmont included:

·        Delivering the project nearly 10 weeks ahead of schedule and under budget;

·        Early completion allowing capital project savings of approximately $20 million;

·        Exceeding start-up power sales by $3 million;

·        Achieving higher-than-guaranteed electrical output;

·        Successfully implementing leading-edge plant design and technology in emissions monitoring and control system architecture;

·        Receiving the prestigious “Safe Partner Award” from the State of Nevada;

·        Being Named Top Plant by Power Magazine for 2008; and

·        Receiving an Outstanding Performance Award from Newmont’s CEO.

About PMI

With nearly 250,000 members in more than 160 countries, Project Management Institute (PMI) is the leading membership association for the project management profession. PMI is actively engaged in advocacy for the profession, setting professional standards, conducting research and providing access to a wealth of information and resources. PMI also promotes career and professional development and offers certification, networking and community involvement opportunities. For more than 38 years, PMI has advanced the careers of practitioners who have made project management indispensable in achieving business results.

About Newmont

Founded in 1921 and publicly traded since 1925, Newmont is one of the largest gold companies in the world. Headquartered in Colorado, the company has approximately 34,000 employees and contractors, with the majority working at core operations in the United States, Australia, Peru, Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont's industry leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for host communities and shareholders.

About Fluor

Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a Fortune 200 company and had revenues of $22.3 billion in 2008.