Arianne Phosphate (TSXV:DAN) has announced the signing of a memorandum of understanding agreement with ABB to provide engineering, procurement and support services for integrated electrification and automated mining solutions.
As quoted in the press release:
“Over the last few months, Arianne has been working closely with potential suppliers for key aspects of the project to provide the necessary technical, engineering, procurement and construction services required in developing the Lac à Paul project,” said Jean-Sebastien David, Arianne’s COO. “By choosing to work directly with the various service providers on specific aspects of the project, it allows us to retain full control over the course and cost of development and, have our selected partners help us to continue to optimize the functionality and economics of our project. The agreement with ABB fits directly into this plan as they are a global leader in power and automation technologies for the mining industry.”
Aside from scope of work and scheduling, this agreement also looks to address the financial necessities of funding this major work package. As part of this agreement, ABB has committed to assist Arianne with possible financing strategies and has already introduced the Lac à Paul project to the Swiss Export Credit Agency (“ECA”) SERV. “The work involved in this contract represents a significant portion of our projected CapEx,” said Brian Ostroff, CEO of Arianne Phosphate. “We have said that our partners must have both the technical capabilities and financial network to assist in our development. In ABB we have found that partner. Already world-renowned as a global leader in electrical design and products, ABB has also been very helpful in looking for workable financial solutions.”