Infrastructure, resources and property company Leighton Holdings Ltd
(ASX:LEI) has been awarded a contract to build a computer services park in India worth US$230 million.
The contract with Tata Realty and Infrastructure Ltd - an arm of Tata Group one of India’s largest conglomerates, involves the construction of IT offices, a convention centre, retail, residential, hospitality, entertainment, and carpark facilities.
Managing director of Leighton International, David Savage, says India is a core market for Leighton International and the company is committed to the country for the long-term.
Mr Savage says Leighton is currently undertaking a range of large-scale infrastructure, building and offshore oil and gas projects throughout the country and expects to consolidate its position as the leading international contractor in India by securing a number of major projects this year. Leighton Holdings 2008 net profit was $607.8 million.
Mining and mineral exploration company Murchison Metals Ltd (ASX:MMX) says it has reached a settlement with rival Chameleon Mining NL (ASX:CHM) over proceedings brought against Murchison by former Chameleon directors.
Former directors of Chameleon David Evans and SH Koh had claimed a 5 per cent interest in the Jack Hills iron ore project and a quantity of Murchison shares in relation to a breach of contract by the then Murchison board in 2004.
Under the terms of the settlement Murchison will issue 3.5 million shares, make a payment of $350,000 and pay the plaintiff’s costs.
The matter was to be heard in the Supreme Court of New South Wales on August 10 2009.
Chameleon will now turn its focus on separate proceedings against Murchison in relation to the Jack Hills and Weld Range which have been listed for a four week hearing commencing on September 28 2009. Murchison Metals pulled itself out of the red in 2008 after posting losses the four years previous.
Resource company Equinox Minerals Ltd (ASX:EQN) says second quarter copper production results at its Lumwana mine in Zambia were well below expectations.
The company says it produced 53 million pounds of copper concentrate grading 39.1 per cent in the second quarter, up from 49 million pounds in the first quarter.
Equinox says its second quarter result was affected by the availability and productivity of the mine truck and shovel mobile equipment fleet, and issues with the ore body.
The company says management is currently reviewing 2009 annual production and cost targets. Equinox Minerals posted a net profit of $172.6 million U.S. in 2008 its first profit in five years.
