Lycopodium (ASX:LYL) secured an engineering, procurement and construction management contract for the development of a new silver oxide plant at the San Cristóbal Mine in Bolivia worth roughly AU$37 million, according to a Tuesday filing with the Australian bourse.

The company will provide services for a new 15,000-tonnes-per day plant to treat oxidized material and produce silver doré, the filing said.

Completion of works is expected in 2030, per the filing.

The company's shares shed about 1% in recent Tuesday trade.