Collaboration on Financing Discussions Part of the Agreement
SAGUENAY, QUEBEC – (March 2 , 2017) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, is pleased to announce the signing of a memorandum of understanding (“MOU”) agreement with ABB Inc. to provide engineering, procurement and support services for integrated electrification and automated mining solutions.
“Over the last few months, Arianne has been working closely with potential suppliers for key aspects of the project to provide the necessary technical, engineering, procurement and construction services required in developing the Lac à Paul project,” said Jean-Sebastien David, Arianne’s COO. “By choosing to work directly with the various service providers on specific aspects of the project, it allows us to retain full control over the course and cost of development and, have our selected partners help us to continue to optimize the functionality and economics of our project. The agreement with ABB fits directly into this plan as they are a global leader in power and automation technologies for the mining industry.”
Aside from scope of work and scheduling, this agreement also looks to address the financial necessities of funding this major work package. As part of this agreement, ABB has committed to assist Arianne with possible financing strategies and has already introduced the Lac à Paul project to the Swiss Export Credit Agency (“ECA”) SERV. “The work involved in this contract represents a significant portion of our projected CapEx,” said Brian Ostroff, CEO of Arianne Phosphate. “We have said that our partners must have both the technical capabilities and financial network to assist in our development. In ABB we have found that partner. Already world-renowned as a global leader in electrical design and products, ABB has also been very helpful in looking for workable financial solutions.”
“After many months of hard work and collaboration, ABB is excited to have partnered with Arianne on the Lac à Paul project,” said Mr. Remy Lanoue, vice-president Industrial Automation North America at ABB. “We believe that Arianne’s choice of ABB is recognition of our strong capabilities in process control systems and production management software. As a leading supplier of electrification and automation systems to the global mining industry, we believe our involvement in this project is important and we are looking forward to using our considerable expertise to get Lac à Paul delivered on time and on budget.”
ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 132,000