Fluor Daniel Settles Argentine Mine Dispute
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Fluor Daniel Inc. and Minera Alumbrera Ltd. reached an agreement to settle all disputes related to the design and construction of the Bajo de Alumbrera mine in Argentina, the companies said Tuesday. Terms weren’t disclosed.
Minera Alumbrera sued Fluor Daniel for damages of at least $60 million in August 1998, alleging that Fluor Daniel had incurred cost overruns that increased the construction cost of the Bajo de Alumbrera mine to $1.2 billion from $798 million.
Minera Alumbrera is 50% owned by MIM Holdings Ltd. of Australia, with North Limited of Australia and Rio Algom Ltd. of Canada each holding a 25% stake.
Fluor Daniel is a unit of Aliso Viejo-based Fluor Corp., an engineering, construction, maintenance and services company.
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