Cost Engineer

Role Overview

Cost Engineer at Wood PLC. The company is currently seeking a Cost Engineer to support its projects business.

Role Purpose

The Cost Engineer provides comprehensive cost management and financial analysis support to mining projects, overseeing cost estimation, budget control, financial modeling, and regulatory compliance throughout all project phases from exploration through reclamation.

Key Responsibilities

Cost Estimation and Budget Development

• Prepare detailed cost estimates for all phases of mining projects, including exploration, development, extraction, processing, and reclamation.

Capital and Operating Cost Control

• Monitor and control project costs related to mining equipment, infrastructure, labor, materials, and consumables to ensure alignment with approved budgets.

Financial Modeling and Analysis

• Conduct economic evaluations, including life-of-mine (LOM) cost modeling, to assess project viability and support decision-making.
• Understand financial analysis, economic modeling, and feasibility studies.

Tendering and Contract Management

• Assist in preparing tender documents for mining equipment, services, and construction contracts.
• Evaluate bids and negotiate terms to optimize costs.
• Support procurement activities by analyzing supplier quotes and negotiating pricing.
• Ensure cost-effective purchasing of mining equipment and materials.

Cost Tracking and Variance Analysis

• Track actual expenditures against budgets.
• Analyze variances and implement corrective actions to prevent cost overruns.

Risk and Contingency Management

• Identify potential financial risks specific to mining operations, including fluctuating commodity prices and environmental compliance costs.
• Develop contingency plans to mitigate identified risks.

Change Order Management

• Assess the financial impact of design changes, scope modifications, or unforeseen site conditions.
• Process change orders accordingly.

Reporting and Documentation

• Prepare regular financial reports, forecasts, and cost status updates for project stakeholders.
• Ensure transparency and accuracy in all financial reporting.

Regulatory and Environmental Compliance

• Ensure costs associated with environmental permits, reclamation, and regulatory compliance are accurately estimated and monitored.

Coordination and Collaboration

• Work closely with geologists, mining engineers, environmental specialists, and project managers.
• Ensure cost data reflects project realities.

Qualifications & Experience

Education

• Bachelor's degree in engineering (Mining, Civil, Mechanical, or Electrical Engineering), Quantity Surveying, Construction Management, or related field.
• Master's Degree or advanced certifications in Mining Engineering, Cost Engineering, or Business Administration (preferred but not mandatory).

Experience

• Minimum of 5–10 years of experience in cost estimation, control, and management within the mining industry.
• Proven experience with gold mining projects or similar resource extraction projects.
• Experience with large-scale capital projects, including infrastructure, processing plants, and equipment procurement.

Professional Certifications

• Certified Cost Engineer (CCE) or Certified Cost Professional (CCP) from the Association for the Advancement of Cost Engineering (AACE International).
• Project Management Professional (PMP) certification (beneficial).
• Certifications in risk management or environmental management (advantageous).

Skills & Competencies

Technical Skills

• Strong knowledge of cost estimation techniques and project budgeting.
• Familiarity with mining operations, processes, and equipment.
• Proficiency in cost management software (SAP, Primavera, CostX, or equivalent).
• Knowledge of environmental and regulatory compliance costs relevant to mining.

Analytical and Soft Skills

• Excellent analytical, problem-solving, and decision-making skills.
• Strong communication and report-writing abilities.
• Ability to work effectively in multidisciplinary teams.
• Attention to detail and high level of integrity and professionalism.

Additional Information

Benefits

• Medical Insurance: Covers specialist care for you and eligible family members residing in country. Pre-existing medical conditions are covered. No limit on number of children covered under the policy; age and coverage limits apply in line with KSA CCHI rules. Option to select higher medical cover payable at employee's own expense.
• Employee Assistance Programme: Confidential support for work or personal issues affecting mental, physical, social, and financial well-being.
• GOSI (Social Insurance): Payable to KSA employees; social insurance contributions paid by the company in line with Government legislation to cover occupational hazards.
• End of Service Gratuity: In line with KSA Labour Law, all employees are eligible for End of Service benefit.
• Examination Leave: Upon company approval to enroll in or continue education at an institute, fully paid leave to sit for examinations of unrepeated years. Leave duration based on days of actual examination; must be applied for no less than fifteen days prior to exam.
• Professional Memberships: One professional membership, registration, subscription, certification, and/or license cost per annum for all active Wood employees. Membership must be relevant to your current role or be part of a development plan. Reimbursement claimed via expenses procedure system with supporting evidence.
• Inspire Awards: Annual awards programme recognizing and celebrating colleagues designing the future, upholding company values, and delivering strategy. Employees can nominate colleagues for hard work, innovation, and tenacity.
• Long Service Award: Recognition of commitment and loyalty at 5-year service milestones.
• Career Development Champions: Prioritizes structured growth through goal setting and resource utilization. Employees use tools for planning and feedback, with managers actively coaching and mentoring to support advancement. Continuous learning and development emphasized to help achieve career goals.