Fluor Receives Final Notice to Proceed from Barrick on Reko Diq Copper Project in Pakistan
Fluor has received final notice to proceed from Barrick Mining Corporation on its Reko Diq Project in Balochistan, Pakistan. Share
'Fluor and Barrick share a strong commitment to delivering large-scale mining projects safely, responsibly and efficiently,' said Harish Jammula, President of Fluor's Mining & Metals business. 'Reko Diq will be a major contributor to Pakistan's economy, which is expected to have a transformative impact on Balochistan province. The mine will create jobs, stimulate regional economic growth and support long-term investment in development programs.'
'Fluor's selection as our EPCM partner strengthens our ability to execute the Reko Diq project with the technical rigor, operational discipline and socio-environmental responsibility that are hallmarks of both companies,' said Mark Bristow, President and CEO of Barrick. 'We look forward to working closely with Fluor to ensure that Reko Diq delivers lasting value to the equity partners, both local and international, as well as the many in-country stakeholders, including the people of Balochistan and Pakistan.'
Reko Diq is a generational project that is expected to have a life that will extend well beyond 40 years as a truck-and-shovel open pit operation with processing facilities producing a high-quality copper-gold concentrate. The project will comprise multiple open pit mines and associated infrastructure, concentrate process facilities and transportation network for moving goods, consumables and concentrate between the site and port.
Construction will begin later this year and will be built in two phases. First production is targeted for 2028. When fully operational, the site will be capable of a total throughput of 90 million tonnes per annum.
Fluor brings extensive global experience in delivering large copper concentrate projects in some of the world's most challenging locations, including high-altitude, remote and logistically complex environments.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients' greatest challenges. Fluor's nearly 27,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $16.3 billion in 2024 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
#m&m
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Got $300 to Invest This August? Buy These Dividend Stocks and Never Look Back.
Key Points Brookfield Infrastructure owns a large, global collection of vital, cash-generating assets. Enterprise Products offers a high yield and steady dividend growth. Clearway Energy has visible growth through 2027 (and plenty of power to continue growing beyond that year). 10 stocks we like better than Enterprise Products Partners › Some dividend stocks are so reliable that you don't need to give them much thought. You can just buy shares and sit back and watch the dividend income consistently flow into your account. Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP), Enterprise Products Partners (NYSE: EPD), and Clearway Energy (NYSE: CWEN.A)(NYSE: CWEN) stand out to a few contributing analysts for their resilient dividend payments. Here's why they think you can park a few hundred dollars into these excellent dividend stocks this August and never look back. Brookfield Infrastructure is focused on cash cows Reuben Gregg Brewer (Brookfield Infrastructure): A $300 investment will get you roughly seven shares of Brookfield Infrastructure Corp. and a roughly 4.4% dividend yield. Or it will get you around nine shares of Brookfield Infrastructure Partners and a 5.4% yield. They represent the same entity, with the only difference being the structure. The corporate share class is more popular, which is why it trades at a higher price and, thus, has a lower yield. That said, Brookfield Infrastructure Partners, the older of the two classes, has increased its distribution annually for 18 years. Brookfield Infrastructure owns a globally diversified collection of infrastructure assets. There is a lot going on here, with the portfolio containing transportation and distribution utility assets, railroads, toll roads, transportation terminals, midstream assets (such as pipelines), and data transmission and storage assets. That's a lot of ground, and it positions Brookfield Infrastructure to produce reliable, recurring revenue backed by necessity businesses. The goal is to grow funds from operations by around 10% a year, with distributions pegged to grow between 5% and 9% a year. Brookfield Infrastructure is an active portfolio manager, however, constantly buying and selling assets. The big-picture plan is to acquire infrastructure assets while they are cheap, improve the value of assets via capital investment and astute operations, and then, if a good price can be had, sell the assets and repeat the process. Given the distribution record, this has been a solid playbook. If you are looking for a high yield backed by hard assets, this could be the pick for you in August. This 7% yield looks safe Neha Chamaria (Enterprise Products Partners): Enterprise Products Partners yields a solid 7%. However, that's not the reason to buy this dividend stock. It is the dividend track record, growth, and stability that make it one of the top 10 dividend stocks to buy now. Enterprise Products has increased its dividend for 27 consecutive years now. It's an oil and gas company, so one would expect Enterprise Products' cash flows to be volatile. That's not the case, though. As a pipeline company, Enterprise Products enjoys relatively inelastic demand, as it provides services under long-term contracts. While that ensures steady cash flows, the company prioritizes reinvesting into growth to grow its cash flows while returning capital to its shareholders. The judicious mix has made Enterprise Products' dividends very reliable over the years. Better yet, its dividends have grown consistently over the years, backed by growing cash flows. For instance, Enterprise Products' distributable cash flow (DCF) grew by 7% year over year in the second quarter. The company increased its dividend by 3.8%, and its DCF comfortably covered its dividend by 1.6 times. Management is excited about 2025 and beyond, as major projects worth $6 billion are expected to come online in the coming months, including a significant expansion of Enterprise Products' gas infrastructure in the Permian Basin. Meanwhile, Enterprise Products just struck a deal to acquire some of Occidental Petroleum's natural gas-gathering systems in the Midland Basin. With $300 now, you can buy roughly nine shares of Enterprise Products Partners and enjoy its dividend growth and high yield, likely for years to come. Clear growth visibility through 2027 and beyond Matt DiLallo (Clearway Energy): Clearway Energy is a leading clean energy producer. The company operates a vast portfolio of wind, solar, energy storage, and natural gas assets. It sells the power generated by these clean energy assets under long-term contracts to utilities and large corporate customers. Those agreements provide it with stable, predictable cash flow, the bulk of which it pays to shareholders via dividends (nearly 6% current yield). At that rate, every $100 invested in Clearway would produce almost $6 of dividend income each year. The company uses its balance sheet flexibility and the cash it retains after paying dividends to invest in additional income-generating clean energy assets. Clearway has lined up several investments that provide it with significant visibility into its ability to grow its cash flow in the coming years. For example, it has agreed to invest in several wind repowering projects (replacing legacy turbines with larger ones that produce more power) it expects to complete in 2026 and 2027. It has also agreed to buy some renewable energy development projects as they enter commercial service over the next couple of years. Clearway's secured investments power its view that it can generate at least $2.50 per share of cash available for dividends (CAFD) in 2027 (up from $2.08 per share this year). That supports its plan to increase its dividend by 5% to 8% annually in the coming years. It recently raised its payment by another 1.6% to an annualized rate of $1.7824 per share. The company has an abundance of future growth opportunities, partly due to its strategic relationship with a leading renewable energy development company. It also has the financial capacity to continue making new investments. These factors drive its confidence that it can continue growing its CAFD and dividends per share at a rate of 5% to 8% annually, well beyond 2027. With visible growth through 2027 and more growth likely beyond that timeframe, you can confidently buy and hold Clearway for dividend income. Should you buy stock in Enterprise Products Partners right now? Before you buy stock in Enterprise Products Partners, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Enterprise Products Partners wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Matt DiLallo has positions in Brookfield Infrastructure, Brookfield Infrastructure Partners, Clearway Energy, and Enterprise Products Partners. Neha Chamaria has no position in any of the stocks mentioned. Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Infrastructure Partners, Enterprise Products Partners, and Occidental Petroleum. The Motley Fool has a disclosure policy. Got $300 to Invest This August? Buy These Dividend Stocks and Never Look Back. was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Is Eaton Stock a Buy Now?
Key Points I'm a long-time shareholder in Eaton, an electricity-focused industrial giant. The stock has performed very well for me, overall, and has been rallying strongly of late. I'm a very happy Eaton shareholder, but there are some very good reasons to be cautious about buying it today. 10 stocks we like better than Eaton Plc › I've owned Eaton (NYSE: ETN) since late 2015. It was one of the first stocks I bought after I had a bit of an existential crisis around the way I invested in dividend stocks (I got significantly more conservative, in case you were wondering). It is one of my best-performing investments and the business is top-notch. But would I buy it again today? Eaton shifted gears at the right time Essentially, the products industrial giant Eaton makes help to move and control power in some form. That includes within cars and trucks, airplanes, and electrical systems of all sorts, from data centers to electrical grids. When I bought Eaton, however, it was still working on integrating a major transformational purchase that materially shifted the business toward managing electricity. Today vehicle end markets account for 14% of revenue (including a small but growing e-mobility business). Aviation makes up another 15% of the top line. The rest is tied to electricity in some form and spread across end markets including data centers (17% of revenue), utilities (11%), commercial and institutional (20%), residential (6%), industrial (12%), and machinery (5%). The business repositioning I bought into has materially benefited Eaton in recent years, noting that revenue has risen nearly 15% over the past five years (through year end 2024) while earnings per share are up 80%. At first blush the revenue advance and the earnings advance doesn't seem to add up. But along the way, Eaton has been focusing heavily on its profitability. So while the top line was rising, its operating margin also improved around 40%, which supercharged the bottom line. Simply put, a lot has been going right for Eaton. Eaton is positioned well for the future While that's the past, it seems like Eaton is ready to take on the future, too. The markets it serves are all doing reasonably well and its margins have widened. The industrial giant is positioned to take advantage of major power tends, as controlling power in a world that is seeing huge power demand growth has become incredibly important. Notably, the U.S. market is expected to see electricity go from 21% of final energy use to 32% between 2020 and 2030. As a shareholder who has owned the stock for roughly a decade, this is all good news. Indeed, I can't help but believe that the business will prosper in the years ahead. But the company's success hasn't gone unnoticed on Wall Street, with the stock up materially since I bought it. Today the value proposition just isn't as good as when I first jumped aboard. Some numbers will help. The current price-to-sales ratio is nearly 6 compared to a five-year average of roughly 3.5. The price-to-earnings ratio is 38 versus a long-term average of a bit under 32. And the price-to-book value ratio is 8 today, compared to a five-year average of 4.3. The stock is expensive. And the risk that the lofty valuation poses to new investors was highlighted earlier in 2025, when the stock lost a third of its value before rebounding back toward all-time highs. I'm not going to sell a well-run company while its business is still growing, so I'm happy to continue owning Eaton's stock. That includes sticking it out through a drawdown in the stock. But if I were looking for a stock to buy today I probably wouldn't consider buying Eaton. Eaton is a great company, but perhaps not a great investment right now Benjamin Graham, the man who trained Warren Buffett, often explained that even a great company can be a bad investment if you pay too much for it. Given the lofty valuation Eaton is fetching today, most investors will probably want to keep this great company on their wish list instead of their buy list. As the 33% drawdown earlier in 2025 highlights, the price could very quickly become more attractive if you are patient enough. But prepare now for that possibility or you may not have the resolve to jump in when Eaton is selling off on Wall Street. Should you buy stock in Eaton Plc right now? Before you buy stock in Eaton Plc, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Eaton Plc wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Reuben Gregg Brewer has positions in Eaton Plc. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Is Eaton Stock a Buy Now? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Forget Energy Transfer? The Smartest High-Yield Energy Stocks to Buy With $100 Right Now.
Key Points Energy Transfer pays a 7.5%-yielding distribution backed by a rock-solid financial profile. Western Midstream and Plains All American Pipeline have even higher current yields. The fellow MLPs could also increase their payouts at faster rates in the future. 10 stocks we like better than Energy Transfer › Energy Transfer (NYSE: ET) stands out in the energy sector for its attractive distribution. The energy midstream giant currently yields over 7.5%. However, it might not be the optimal option for those seeking to turn $100 into a high-octane income stream. Fellow master limited partnerships (MLPs) Plains All American Pipeline (NASDAQ: PAA) and Western Midstream Partners (NYSE: WES) currently offer higher-yielding payouts (8.5% for PAA and 9.5% for WES) backed by similarly strong financial profiles. That makes them smarter ways to maximize your passive income production these days. A well-oiled, income-producing machine Plains All American Pipeline owns and operates midstream energy infrastructure focused on crude oil and natural gas liquids (NGLs). About 8 million barrels of oil and NGLs flow through its system of pipelines, storage terminals, and other assets each day. The MLP primarily collects a fixed fee as those volumes pass through its network (85% of its earnings after closing the pending sale of its Canadian NGL business). The company has a stable cash flow profile similar to Energy Transfer, with only 15% of its future earnings having commodity price exposure compared to about 10% for its larger rival. The oil pipeline company expects to produce enough cash to cover its high-yielding distribution by 1.75 times this year. That's a comfortable level. (It's currently above its 1.6x target.) It's not too far from Energy Transfer's current coverage level (nearly 1.9x through the first half of this year). Plains All American Pipeline also backs its payout with a strong balance sheet. The oil pipeline company exited the second quarter with a 3.3x leverage ratio, putting it toward the low end of its 3.25x to 3.75x target range. That's well below Energy Transfer's level, which is currently near the low end of its 4.0x to 4.5x target range. Energy Transfer's larger, more diversified business model allows it to have a higher leverage ratio. Plains' already strong financial profile will grow only stronger once it closes its Canadian NGL sale. The company's strong financial profile allows it to invest in expanding its operations. Plains invests in organic expansion projects and makes small bolt-on acquisitions. (It bought another 20% interest in the BridgeTex Pipeline Company in the second quarter.) These growth investments should enable the company to continue increasing its distribution. Plains All American expects to increase its payout by around 10% annually until it reaches its targeted 1.6x coverage level, and then it aims to grow its payment at the same rate as its cash flow. That's likely a faster pace than Energy Transfer, which targets annual distribution growth of 3% to 5%. Steady baseline income growth with upside potential Western Midstream primarily focuses on providing natural gas, crude oil, and produced water services to oil and gas companies in the Delaware, DJ, and Powder River Basins. Fee-based contracts supply much of its earnings. That enables the MLP to produce predictable cash flow to support its high-yielding dividend. The energy midstream company expects to generate $1.3 billion to $1.5 billion of free cash flow this year. That's enough money to cover its lucrative distribution and the capital expenses to maintain and grow its operations, with room to spare. The MLP also has a sub-3.0x leverage ratio, giving it additional financial flexibility. Western Midstream plans to use some of its excess financial capacity to buy Aris Water Solutions in a $1.5 billion cash and stock deal. That deal will enhance its operations and boost its free cash flow next year. Meanwhile, it has visible growth coming down the pipeline in 2027 from its recently approved North Loving II gas processing plant and Pathfinder Pipeline projects. The company's growth investments should support continued distribution increases. Western Midstream aims to deliver low- to mid-single-digit annual growth supported by the steady expansion of its core business. Additionally, it sees the potential for incremental distribution growth fueled by major expansion projects and acquisitions. Better income options Energy Transfer is an excellent MLP to buy for passive income. However, Plains All American and Western Midstream currently offer higher-yielding payouts. Further, those MLPs (which, like Energy Transfer, send a Schedule K-1 Federal Tax Form each year) could deliver higher income growth rates in the future. That makes them smarter investments for those seeking to maximize the income produced from every $100 they invest. Should you buy stock in Energy Transfer right now? Before you buy stock in Energy Transfer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Energy Transfer wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Matt DiLallo has positions in Energy Transfer. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Forget Energy Transfer? The Smartest High-Yield Energy Stocks to Buy With $100 Right Now. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
