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North American Energy Partners Announces $128 Million in New Contracts

North American Energy Partners Inc. (NOA.TO), which rose nearly 4% yesterday, announced overnight it has been recently awarded two new contracts totaling approximately $128 million.

The first of these new contracts has been awarded by the Joslyn North Mine Project for the initial earthworks at the Project site north of Fort McMurray. The work, to be completed over a period of about 12 months commencing November 2011, involves clearing the site and establishing access (roads, drainage etc.) in preparation for the planned future construction of the mine and extraction facility.

The second contract is for work at the Mt. Milligan Copper/Gold Project in northern British Columbia and covers the erection of more than 7,000 tonnes of structural steel as well as the installation of cladding, insulated roofing panels, cranes and lighting for new mill concentrator facilities at the mine. Work on this contract will begin in November 2011 and is targeted to be completed by Fall 2012. The work will be carried out by a combination of NAEP personnel and specialized subcontractors.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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