In its latest Financial Year 2019 H1 results (to end December 2018), South Africa-headquartered Murray & Roberts says significant growth has been recorded in its Underground Mining platform order book, which by the end of that period stood at ZAR25.7 billion and ZAR8.1 billion in “near orders” which it defines as “tenders where the Group is the preferred bidder and final award is subject to financial/commercial close – there is more than a 95% chance that these orders will be secured.”

“This global business is performing extremely well and continues to experience increasing demand for its services. Commodity prices in general have increased and there is a positive change in sentiment towards investment in the industry.” Revenue and operating profit increased to ZAR4.9 billion (FY2018 H1: ZAR4.1 billion) and ZAR346 million (FY2018 H1: ZAR239 million) respectively. The platform order book increased to ZAR25.7 billion (FY2018 H1: ZAR15.3 billion), with project awards across all jurisdictions.

The platform is engaged in projects in Australia, Indonesia, Mongolia, the USA, Canada, Mexico, South Africa and Zambia. Current projects include 18 vertical shaft sinking and equipping projects, 21 decline shaft and mine development projects, 8 contract mining projects and 13 support and construction services projects. The platform also has 37 raise drilling machines deployed in various locations across the globe.

Its global reach, broad range of services and reputation for safe and successful project delivery, has positioned the platform favourably to capitalise on the underground mining market’s large project investment pipeline. It is expected that the platform will continue to make a significant contribution to Group earnings.