CIMIC Group wins US$310 million in mineral processing contracts in South Africa | Finance News Network

CIMIC Group wins US$310 million in mineral processing contracts in South Africa

Company News

by Anna Napoli

CIMIC Group’s (ASX:CIM) mineral processing company, Sedgman has been awarded US$310 million in mineral processing contracts in South Africa.

The design, engineering procurement and construction contract with Ledjadja Coal will generate revenue of US$210 million to Sedgman over 26 months.

While the operations and maintenance contract at the Boikarabelo Coal Handling and Preparation Plant will generate revenue of US$100 million over the four year period post completion of the facility.

The company says the contract is a valued addition to its mineral processing portfolio. Reflecting Sedgmen’s world-leading expertise in the coal sector.

Shares in CIMIC Group (ASX:CIM) is trading 0.86 per cent higher to $48.75.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.