GR Engineering has extended a contract winning streak into 2019 despite project development delays.
While GR Engineering, in an ASX statement, stated it had entered the six months ending 2018 “in a supportive commodity price environment”, project delays have made commencement timing uncertain.
GR Engineering didn’t disclose which projects have been affected.
Managing director Geoff Jones said the lower project execution activity had affected GR Engineering’s core mineral processing design and construction business.
“Positive outcomes were achieved in securing a total of approximately $42 million in new work at Carosue Dam and Fosterville, reflecting GR Engineering’s strong capability in the design and construction of paste backfill plants,” Jones said.
“GR Engineering entered into material design and construction contracts during [the six months ending 2018] and into the December 2019 half year, most recently in relation to the Northern Wellfield project supporting the Carrapateena development in South Australia, and on a conditional basis in respect of the Sandy Ridge and Thunderbird Mineral Sands projects in Western Australia and Fungoni Mineral Sands project in Tanzania.”
Jones also said study activity remained strong with the support of favourable commodity prices, and that GR Engineering remained well-placed to deliver mineral processing infrastructure to companies.