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Fluor Daniel Wins Contract To Upgrade Doe Run's Smelter and Refinery Complex in Peru
IRVINE, Calif., February 17, 1998 -- Fluor Daniel (NYSE:FLR) announced today that it has been awarded a contract to upgrade and modernize The Doe Run Company's metallurgical smelting complex at La Oroya, Peru, approximately 150 miles east of Lima in the Andes Mountains at a height of 12,540 feet. The contract value was not disclosed.

The La Oroya project is part of Doe Run's 10-year capital improvement program, and Fluor Daniel's Mining & Metals operating company will provide engineering, procurement and construction management services for the project, as well as upgrade equipment, provide safety and craft training programs, and enhance its environmental performance. Work is being carried out at the site with support from Fluor Daniel Mining & Metals's offices in Santiago, Denver and Vancouver.

Jeff Zelms, president and chief executive officer of The Doe Run Company, said, "We are pleased to announce the selection of Fluor Daniel as our provider of engineering, procurement and construction services for La Oroya. Having been previously affiliated with Fluor Daniel, we are well aware of its world-class capabilities. Both organizations are known internationally for their attention to safety, training and environmental excellence."

"We are pleased to once again be associated with The Doe Run Company," said Jim Rollans, Fluor Corporation's senior vice president and chief administrative officer. "Fluor Daniel's pledge is to establish a successful and long-term relationship with Doe Run in South America."

Phil Asherman, president of Fluor Daniel's Mining & Metals operating company, added, "Fluor Daniel is committed to working with Doe Run's La Oroya division during the next several years and will provide a wealth of knowledge and experience having worked in a safe and environmentally sensitive manner in Peru since 1959."

The La Oroya complex represents Doe Run's first international acquisition and expands its product line beyond lead metal to include copper, silver, zinc, gold and several other metals. Doe Run purchased the La Oroya site from Centromin, the Peruvian government's central mining organization, for a total investment of $246 million, including $125 million in capital. The sale, which was effective October 23, 1997, is part of Peru's ongoing privatization program.

Doe Run is a fully integrated lead producer, holding six mines, four mills and refineries, primary and secondary smelters, as well as fabrication facilities throughout the U.S.