Contracting and property development company Watpac Ltd (ASX:WTP) says its civil and mining division has expanded with two new mining services contracts.
In the past month Watpac has secured a 3.5 year mineral sand mining contract in Victoria for Iluka Resources Ltd (ASX:ILU) and a six month contract from Yarrabee Coal Company for work at their Queensland mine.
Watpac says it now has a $740 million portfolio of long term mining services contracts in Australia across a range of commodities.
Watpac advises that is also a preferred contractor for Ramelius Resources Ltd (ASX:RMS) Mt Magnet Gold Mine in Western Australia.
In the first half of its 2011 financial year, Watpac generated a net profit of $4.3 million
