1191

BUSINESS NEWS FLUOR WINS FEED CONTRACT FOR POTASH MINING PROJECT IN EAST AFRICA Fluor Corporation was awarded a front-end engineering, design, and optimization contract by Danakali Limited in Eritrea, East Africa for the Colluli Potash Project following a competitive tendering process initiated and completed in 2016. Fluor will book the undisclosed contract value in the first quarter of 2017. “Fluor will provide a highly qualified design and optimization team with world-class process infrastructure credentials for this important fertilizer project,” said Rick Koumouris, president of Fluor’s mining and metals business. “In addition to working with Danakali to maximize project capital efficiency during the study and execution phases of this project, Fluor will bring top-notch project financing expertise and assistance to help Danakali advance this project to the next phase.” “We are delighted to be working with Fluor as we progress the Colluli project,” said Paul Donaldson, managing director of Danakali. “The combination of Fluor’s values, people, reputation, optimization approach, mining and metals expertise, experience in Africa, and potash-specific experience will benefit the project significantly as it progresses towards construction.”

Take your advice from Mark Zweig to-go.

Colluli is one of the most advanced greenfield sulfate of potash developments in the world and demonstrates outstanding economics including industry leading capital intensity, bottom quartile operating costs, close proximity to the coast and key markets, and unrivaled product diversification potential. Sulfate of potash is a high quality potash fertilizer used for farming crop development and yield maximization around the globe. The Colluli deposit is located in the Danakil region of Eritrea, East Africa. Colluli is approximately 177 kilometers southeast of the capital, Asmara, and 180 kilometers from the port of Massawa (230 kilometers by road), which is Eritrea’s key import-export entry. Approval of the social and environmental impact assessment for the project was given by the Ministry of Land, Water, and Environment in December 2016. The award of the mining agreement and mining license for the project is well progressed. Danakali is an ASX-listed company and 50 percent owner of the Colluli Potash Project in Eritrea, East Africa. The company is currently developing the Colluli Project in partnership with the Eritrean National Mining Company.

thezweigletter.com/category/podcast/

MARK ZWEIG , from page 1

1200 North College Ave. Fayetteville, AR 72703 Mark Zweig | Publisher mzweig@zweiggroup.com Richard Massey | Managing Editor rmassey@zweiggroup.com Christina Zweig | Contributing Editor christinaz@zweiggroup.com Sara Parkman | Editor and Designer sparkman@zweiggroup.com Liisa Andreassen | Correspondent landreassen@zweiggroup.com

put in extra hours. Just won’t happen. The example is set at the top and at every level of leadership throughout the organization. 4)Promote those who put in the work. Don’t promote those who don’t. That’s the basis of the firm’s culture – what types of behaviors get rewarded – and what types of behav- iors get punished. It becomes the unwritten law in the firm. So make sure you are show- ing everyone in the firm what you value by recognizing the hard workers who put in the time necessary for the firm to be successful. 5)Employ open book management. Sharing all the numbers with your people – every- thing that tells them how the organization is doing in whole or in-part – is essential if you want your people to see the link between longer hours and greater production and profitability. You need to have your gauges on the organization and then show them to your people – all of them! 6)Tie everyone’s compensation into to the performance of the firm. Once the gauges are established and your people regularly (and frequently) see how everything is work- ing, then you have to pay something to everyone based on that performance. I like to pay this money out monthly. Shows a much more defined “link” to pay and company performance than the typical A/E firm’s annual subjective bonus program. The more clearly you define exactly what that is and how it is calculated on an individual level, the better. Then the performance will be reflected in the numbers and the pay will come to the individuals as a result. 7)Make it fun to be there. If the environment is depressing and not fun, guess what? No one will want to be there! If, instead, it is upbeat and energizing, people will have to pull themselves away. How does your work environment stack up? Oh yes – one last request. Please spare me the angry emails and letters about how everyone should “work smarter, not harder.” If you really want to make money in this business, do both! Get everyone working smart – and hard. The numbers don’t lie! MARK ZWEIG is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com.

Tel: 800-466-6275 Fax: 800-842-1560

Email: info@zweiggroup.com Online: thezweigletter.com Twitter: twitter.com/zweigletter Facebook: facebook.com/thezweigletter Published continuously since 1992 by Zweig Group, Fayetteville, Arkansas, USA. ISSN 1068-1310. Issued weekly (48 issues/yr.). $475 for one-year subscription, $775 for two-year subscription. Article reprints: For high-quality reprints, including Eprints and NXTprints, please contact The YGS Group at 717-399- 1900, ext. 139, or email TheZweigLetter@ TheYGSGroup.com. © Copyright 2017, Zweig Group. All rights reserved.

THE ZWEIG LETTER March 13, 2017, ISSUE 1191

Made with FlippingBook Annual report