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Murray & Roberts secures R3.8bn in new mining projects

Murray & Roberts said on Friday, 16 March, that it had secured new underground mining projects to the tune of R3.8bn.
© oxygen64 – 123RF.com
The construction and engineering group clinched the projects from North America and Australasia.

The value of the awards represented an increase of about 25% on the underground mining platform order book of R15.3bn, as of December. The company is scheduled to deliver the projects over a four-year period.

Markets cheered the news, pushing the share price up 7.42% to R10.42 in mid-morning trade on the JSE, valuing the company at R4.6bn.

The Murray & Roberts portfolio spans metals and minerals, oil and gas, and power and water. Muted demand for construction projects in SA has, over time, led some construction companies offshore in search of greener pastures.

Source: BDpro
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Comment
Cameron Robertson
That seem like just the right amount of time for the unit to start running operations at the new location after breaking ground. Those minerals can be found deep underground and thus the ample amount of time dedicated to creating the best environment to start harvesting them is highly essential.
Posted on 3 Jan 2019 13:33
Nathan Davidson
It's interesting to see that facilities in the mining industry are doing well and that there is growth in this sector, especially when the marine counterpart doesn't seem to be doing as well. Seems like oil and gas in terms of offshore developments are slowing and we'll start to see more units of produce coming from the mining counterparts.
Posted on 19 Feb 2019 08:50

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