Shaft Sinker Hdg plc SHFT Additional Work Awarded - Afplats

  Shaft Sinker Hdg plc (SHFT) - Additional Work Awarded - Afplats

RNS Number : 5291R
Shaft Sinkers Holdings Plc
20 November 2012




20 November 2012

                                      

                                      

                          Shaft Sinkers Holdings plc

               ("Shaft Sinkers"; the "Group" or the "Company")

                      Additional Work Awarded - Afplats

Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and
underground construction group, is pleased to announce that it has been
awarded additional work by Afplats on its existing Leeuwkop project.

The scope of work includes the continuation of sinking activities on the main
shaft from a depth of 325 metres to 700 metres. The additional work commences
immediately, is scheduled to be completed in May 2013, and has a total value
of £7 million.



The award of the contract has been phased in stages. The Company completed the
pre-sink and mobilisation work and commenced sinking activities earlier this
year. The intended final depth of the main shaft is 1,561 metres. This is a
"Rates" contract.



The additional work is in line with management's expectations for new work,
and contract extensions, to be secured during the 2012 financial year.



Speaking today, Alon Davidov, Chief Executive, said:



"This project continues to progress well and we are pleased with the
additional work award. We are focussed on ensuring our customers' expectations
are met and we look forward to working with Afplats to deliver on this, as
well as future expansions of their projects."



                                     Ends



For further information:

Shaft Sinkers Holdings plc +44 (0) 787 595 1362

Alon Davidov, Chief Executive Officer

Chris Hall, Chief Financial Officer





Media enquiries:

M:Communications +44 (0) 20 7920 2330

Ann-marie Wilkinson

Elly Williamson

Matthew Neal



Notes to editors

Shaft Sinkers

Shaft Sinkers Holdings specialises in the sinking of particularly deep and
wide vertical and decline shafts and the development of underground
infrastructure, used primarily in mining and hydropower applications.

The Group is a world leader in vertical shaft sinking with a focus on
particularly deep and/or wide vertical shafts.It has the capability to sink
shafts through all types of rock strata, including running sands and clay. The
Group works principally for established mining and infrastructure companies.

Historically, the Group has completed projects in over 20 countries worldwide
across Africa, Europe, South America, the Middle East, Asia and Australia. The
Group was responsible for sinking one of the deepest ever man and material
South African shafts, a secondary shaft at the Western Deep Levels to a depth
of 3,131 metres below bank.

Major current projects and customers include: the Shaft 16 and 17 complexes
for Impala Platinum, Leeuwkop for Afplats, the Styldrift project for Anglo
Platinum and Royal Bafokeng Resources, the Lonmin projects include Karee 3,
Hossy and Saffy, the Hernic Ferrochrome project, the Moab project for
AngloGold Ashanti, Rampura Agucha for Hindustan Zinc Limited in India and the
Kibali Goldmines project in the Democratic Republic of the Congo for Randgold
Resources Limited and AngloGold Ashanti.



Afplats Proprietary Limited (Afplats)

Afplats (Pty) Limited (Afplats) is a subsidiary of Impala Platinum Holdings
Limited (Implats). Headquartered in Johannesburg, South Africa, Implats
operates six main units: Impala, Zimplats, Marula, Mimosa, Two Rivers and
Impala Refining Services. It is principally in the business of producing and
supplying platinum group metals (PGMs) to industrial economies. The primary
operational unit, has operations situated on the on the western limb of the
world-renowned Bushveld Complex near Rustenburg in South Africa.

Implats produces approximately 22% of the world's supply of platinum with a
workforce of 63 000, including 23 000 contractors. The Group produces
approximately 3 million ounces of PGMs, including 1.448 million ounces of
platinum.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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