PRESS RELEASE

Fluor to Design and Build Quellaveco Copper Project in Peru

By
Wednesday, August 8, 2018

Press Release by Fluor Corporation

Fluor Corporation (NYSE: FLR) announced today it has received the full notice to proceed for the engineering, procurement and construction management of Anglo American's Quellaveco copper project in the Moquegua region in the south of Peru. Fluor will book the undisclosed contract value in the third quarter of 2018.

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Anglo American's Quellaveco copper mine in the Moquegua region in the south of Peru (Graphic: Business Wire)

"As one of the world's largest undeveloped copper deposits and one of the largest projects in Peru, Quellaveco will be a flagship project for Fluor, our client and the local community," said Tony Morgan, president of Fluor's Mining & Metals business. "Since completing the feasibility report, we have worked tirelessly with Anglo American to ensure the project is fully ready for execution. We are very proud of the work we've done together and look forward to making Quellaveco the best performing asset in Anglo American's impressive portfolio of operations."

The project will be an open pit mine that will process 127,500 tonnes-per-day of ore via conventional crushing, grinding and flotation technology to produce 300,000 tonnes of copper per year. First copper production is expected in 2022.

The majority of work takes place at an elevation of 3,000 meters (9,842 ft.) above sea level. Fluor will pre-assemble certain structures to improve safety and quality by increasing the amount of work in a controlled environment at lower elevations.

Fluor has been responsible for early site infrastructure development since 2014.

About Fluor Corporation

Founded in 1912, Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that transforms the world by building prosperity and empowering progress. Fluor serves its clients by designing, building and maintaining safe, well executed, capital-efficient projects around the world. With headquarters in Irving, Texas, Fluor ranks 153 on the Fortune 500 list with revenue of $19.5 billion in 2017 and has more than 56,000 employees worldwide. For more information, please visit www.fluor.com or follow Fluor on Facebook, Twitter, LinkedIn and YouTube.