WATPAC'S $29M DEAL

Written on the 4 August 2014

WATPAC'S $29M DEAL

WATPAC Limited (ASX:WTP) has secured a $29 million contract with Hanking Gold Mining to provide mining services at its Cornishman Pit.

Work is expected to commence this month, based at the centre of Hanking Gold’s Southern Cross Operations.

Watpac CEO Martin Monro (pictured) says the contract will boost the group’s civil and mining business.

“While the outlook for the resources sector has been mixed, Watpac Civil and Mining has continued to perform well over the past 12 months,” Monro says.

“Watpac has developed extremely strong credentials in the iron ore, gold and mineral sands space in Western Australia in recent years and it is very pleasing to see our brand is recognised for our knowledge and expertise in this space despite a difficult market.”

Monro says the deal affirms the team’s efforts to maintain a “healthy forward work book.”

The national contractor will provide drill, blast and conventional mining services at the Cornishman Pit for the next 19 months.

Approximately 50 people will be employed under the contract.

Watpac civil and mining manager Russell Hall says the company is looking forward to a long relationship with Hanking Gold.

“Our collaborative approach with mine owners enables us to deliver a broad range of mining and heavy civil works tailored to each unique operating environment and supported by best practice safety and management systems,” Hall says.

Hanking Gold operates under China Hanking Holdings Limited and is a diversified international mining company listed on the Hong Kong Stock Exchange.


Latest News

DREAMWORLD PARENT COMPANY DEMOTES CEO DEBORAH THOMAS

ARDENT LEISURE, the parent company of Gold Coast's Dreamworld theme park, has reshuffled its core leadership w...

MELBOURNE SHOPPING CENTRE SELLS FOR $48m AS CHINESE DEMAND RAMPS UP

A MELBOURNE shopping centre has been sold for $48 million, bringing the total spent by Chinese investors on Victor...

HOW WEDDING WOES INSPIRED A BOOMING BUSINESS FOR MEGAN ZIEMS

WHEN she was dress shopping for her wedding in 2010, Megan Ziems (pictured left) was disappointed to discover a ma...

SPOTLESS REJECTS DOWNER'S 'HOSTILE' $1.2B BID AS IT PROMISES A STRATEGY RESET

CLEANING and catering services company Spotless has rejected a $1.26 billion takeover bid from mining services firm D...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter