Leading engineering and construction company Graña y Montero S.A.A. announced last week that its subsidiary STRACON GyM will construct and operate the San Ramon Gold Mine in Columbia.
STRACON specializes in services in the mining sector. The mine is owned by Canada’s Red Eagle Mining Corp., which plans to start the project sometime in mid-2016.
“We have reached an agreement with Red Eagle Mining Corp., for which we have been awarded the service contract for an amount of $155 million to develop and operate for a period of eight years the San Ramon mine,” STRACON GyM
Chief Executive Officer
Steve Dixon
said. “This will undoubtedly enhance the presence of Graña y Montero in Colombia and will strengthen our participation in the mining sector at a regional level.”
As part of the agreement, STRACON has gained rights to shares from Red Eagle Mining for roughly $3.5 million.
