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M & R said yesterday that the contracts included the development of a copper mine in Mongolia and projects to be undertaken by its oil and gas platform on the metals and minerals market in Australasia.
The group said the development of the Mongolia mine would be undertaken as part of a joint venture between its oil and gas platforms and its underground mines. Ed Jardim, an M & R Group investor and media officer, said the Mongolian project would account for more than half of the value of the contracts. Jardim confirmed that a recent award to Clough, Australia's wholly-owned subsidiary of Australian-based oil and gas engineering and construction, was the second-largest contract award.
In May of this year, Clough announced that she had secured a contract for engineering, procurement and construction (EPC) preliminary work to advance the infrastructure off process of the South Flank BHP Iron Ore Project. Initial work is part of BHP's initial funding for the South Flank support project announced by BHP last June.
"Clough has been providing EPC solutions in other areas in recent years and it is a natural progression to use this capability for our mining customers. "These early works provide a solid platform for continuing to build the relationship between our companies." The engineering and construction of this facility will be carried out by the Clough & # 39; s WA team (Western Australia) , with the civil, structural, mechanical, piping, electrical and instrumentation reach, "he said. M & R said yesterday that the four projects would be executed over a period of up to two years.
The group has focused on complementary growth markets, such as the metals and minerals and infrastructure sectors in Australasia, previously well served by its oil and gas platform, due to 39, an oil and gas market forced for four years. "These project awards are a demonstration of the platform's ability to secure project opportunities in complementary markets," the statement said. M & R shares fell 1.63% on the JSE yesterday to close at 17.50 Rs.
– REPORT OF ACTIVITY
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