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 CNTFEMSWSFESESF -0- Nov/20/2012 07:09 GMT
Shaft Sinker Hdg plc SHFT Additional Work Awarded - Afplats
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