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M&R works to regain control of its Australian mining business

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The group is looking to the future after the 'catastrophe' Down Under.

JSE-listed engineering and contracting group Murray & Roberts maintains that despite its catastrophe in Australia, it does have a future and is still seeking to regain control of its Australian mining business.

“Today, we are predominantly a mining services company and, subject to us regaining control of RUC, we believe that we can grow our earnings from a pre-pandemic baseline,” he said.Mike da Costa, CEO of M&R mining platform, said that with the loss of control of RUC, the Australasian part of the globe is underserviced from a M&R perspective.

“The previous process we were engaged in was terminated by the administrators, but we are currently still in the race. Laas said the group expects the order book to grow into the future, with R9.1 billion in near orders, which is work it has secured but the contract has not yet been signed. “But as we do the PV projects in joint ventures, it ends up being about a R2.5 billion share for the platform.

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