CA - Stantec awarded $16M feasibility study for Resolution Copper project

Stantec ( NYSE: STN ) said Tuesday it was selected to deliver a $16M feasibility study providing engineering and technical services for the Resolution Copper mine in Arizona; the project is jointly owned by Rio Tinto ( RIO ) and BHP ( BHP ).

The proposed underground mine has the potential to be one of North America's largest producers of copper, supplying as much as 25% of U.S. copper demand each year.

Stantec ( STN ), which has been a lead underground mining and infrastructure consultant on the project since 2019, said engineering services on this project include power distribution, material handling, shafts and hoisting systems, dewatering/pumping, communications, and more.

The company also will evaluate the use of battery electric vehicles to help the mine meet its goal of zero carbon emissions.

Stantec ( STN ) recently reported Q2 adjusted earnings of $0.83/share on revenues of $1.1B .

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