Finning to build power plant for Barrick project

VANCOUVER — Finning International Inc. has won a $9.5 million contract to build a power plant to supply electricity to Barrick Gold Corp.'s gold project in Argentina.

Finning said recently its power systems division had won the contract from Barrick's wholly owned subsidiary, Minera Argentina Gold S.A., which is building the Veladero operation.

The power plant will supply electricity and heat to the Veladero mine and processing mill in early 2005.

Veladero is expected to start production in late 2005 at an annual rate of about 540,000 ounces of gold.

The contract comes after a $154 million deal Finning won last fall to supply equipment and maintenance services to Barrick's Argentinian project.

Finning International sells, rents, finances and provides customer support services for Caterpillar heavy equipment and engines in Western Canada, the United Kingdom and South America.

Canadian Press