SOUTH AFRICA – Ruc Cementation Mining Contractors, a subsidiary of the Murray & Roberts (M&R) mining platform, has been awarded a US$161 million Newmont Corporation shaft lining and equipment contract in Australia.

The contract was for Newmont’s Tanami Expansion 2 project in Australia’s Northern Territory.

Newmont is the world’s largest gold producer.

The announcement saw M&R’s share price increased by 2.8 percent to US$0.77 on the Johannesburg Stock Exchange with the price well up from US$0.36 same period in 2020.

RUC is a diversified underground mining contractor with an extensive portfolio of completed and current projects throughout Australia and the Asia-Pacific.

M&R said that capital investment in the mining sector continued mainly in brownfield expansions, although it was expected investment in new mines would return from mid-2021 onwards.

“Murray & Roberts is one of the largest underground mining contractors in the world”

As one of the largest underground mining contractors in the world, M&R’s mining platform has a significant market share in the jurisdictions in which it operates, including Australia, Canada, Indonesia, Mongolia, South Africa, the US, Mexico, Chile, and Zambia.

These include shaft sinking and equipping projects, decline and mine development projects, production mining projects, support and construction projects, and ore handling infrastructure construction projects.

In the six months to December 31, 2020, M&R said it held a record order book for all its operations of US$4.3 billion, well up from the US$3.5 billion order book at the same time a year previously.

It declared an interim attributable loss of US$11.7 million versus a US$11.4 million profit at the same time a year before, but said that, considering the size of its order book and near orders of US$1.4 billion at the end of the interim period, it was well positioned for a return to profitability and “meaningful earnings growth” in the short to medium term.

The mining platform delivered a US$12.3 million profit before tax and interest at the interim stage, versus US$24.7 million the previous year.

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