In May 2020, Lycopodium was awarded the front-end engineering and design contract for the development of additional mineral processing capacity to more than double existing production, including primary crushing station, overland conveyor, coarse ore stockpile and reclaim, milling with pebble crushing, flotation circuits and concentrate and tailings pipelines.

In July 2021, Lycopodium was subsequently awarded the professional engineering and management services scope to facilitate the process plant expansion.

The latest contract will begin this month and run for two years.

"We are very pleased to have this opportunity to continue to support PT AMNT with the expansion of the Batu Hijau mine as it progresses through the construction stage," Lycopodium managing director Peter De Leo said.

Batu Hijau, a former Newmont operation, is Indonesia's second-largest copper and gold mine, producing more than 8 billion pounds of copper and over 8.5 million ounces of gold since 2000.

Lycopodium shares last traded at $5.16, valuing the company at $205 million.