JOHANNESBURG (miningweekly.com) – JSE-listed engineering and construction group Esorfranki said it would be looking to expand in the resources sector, where the company could possibly generate contracts valued at about R500-million in the year, CEO Bernie Krone told Mining Weekly Online on Thursday.

Speaking at the company’s financial results for the year ended February, Krone explained that Esorfranki’s current pipeline of work in the mining industry was valued at R200-million.

The company is currently involved in the iron-ore and manganese sectors, and hoped to enter the platinum and coal sectors.

Expansion into the coal mining industry was expected to provide significant growth in the civils division. “Existing clients continue to negotiate work to benefit the group and our safety and quality record ensures the group is invariably positioned on the preferred bidders list,” Krone said.

The company has secured a R40-million piling contract with Kalagadi Manganese. Work was also ongoing at its Xstrata’s Arthur Taylor colliery opencast mine East upgrade project.

He said the company was also targeting work related to acid mine drainage and other potential contracts in the industry.

“We hope to continue to increase our stake in these diverse sectors in future,” he told Mining Weekly Online.

The JSE-listed company posted poor results for the financial year ended February 28, as headline earnings decreased by 118,6% to a loss of R37, 9-million.

 

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