RNS20 Nov 2012 07:23
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