Murray & Roberts shares rise after subsidiary wins gold mine contract
The share price of Murray & Roberts rose 1.8% to R15.30 on Thursday morning after it said its Australian subsidiary had won a contract to develop a new gold mine. The value of the contract was not disclosed, but Murray & Roberts described it as a major milestone in its Australian unit’s "transformation from mid-level to being recognised as a top-tier mining contractor". Murray & Roberts’s wholly owned subsidiary RUC Cementation Mining Contractors won a three-year contract to develop a new underground mine, Mount Morgans, for Dacian Gold. "The contract was awarded after an extensive competitive bid process," Murray & Robert said. Dacian Gold said it intended to spend A$220m developing its Mount Morgan project. The Laverton gold district was estimated to contain 30-million ounces of gold, making it the second-highest endowed gold district in Western Australia, the company said in Thursday’s statement. The contract may be extended after the initial three years. Murray & Roberts’ move f...
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