Murray & Roberts Holdings (M&R) said yesterday that a subsidiary company Terra Nova Technologies (TNT), in joint venture with Ingeniera y Construccin Sigdo Koppers, had been awarded a $200 million (R3.83 billion) engineering, procurement and construction contract with a large copper producer for a mine in South America.
TNT's share in the joint venture was 51%, a statement from M&R said. The scope of work included a primary crushing facility, a 6.3km long overland conveyor, a 23kV power transmission system, and associated infrastructure.
Starting this month, the project was expected to have a duration of 27 months. M&R said the award reinforced TNT's capability to deliver complete EPC material handling systems in Latin America and was a welcome order for the business that had to rebuild its order book since the end of Covid-19, as limited materials handling opportunities came to market during this period.
TNT was acquired by M&Rs Cementation Americas in 2019 and was a strong contributor to group earnings in the year prior to the pandemic.
M&Rs share price gained 4.27% to R1.22 on the JSE yesterday afternoon - a year ago the price was R1.33.
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