SHAFT SINKERS HOLDINGS PLC 
By ?
23 December 2013
Shaft Sinkers Holdings plc
("Shaft Sinkers" or "the Group")
Additional Work Awarded - Afplats
Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and underground construction group, is pleased to announce it has been awarded additional work by Afplats on its existing Leeuwkop project.
The scope of the work includes the continuation of sinking activities on the main shaft at Leeuwkop to a depth of 984m from the current level of approximately 700m. The contract, which commences immediately, is scheduled to be completed in June 2014 and has a total value of GBP2.2 million. The contract is on a rates basis.
Today's announcement follows a previous contract extension at Leeuwkop in August 2013 under which the Group introduced revised working practices that have resulted in cost savings for the client whilst also gaining significant time on the project schedule.
The additional work is in line with management's expectations for new work and contract extensions, to be secured during the year.
Speaking today, Alon Davidov, Chief Executive, said:
"I am pleased that we have been awarded further work at the Leeuwkop project. The recent introduction of an innovative new shift system by the Shaft Sinkers team at Leeuwkop has saved Afplats time and money. This is a clear example of the strong technical skills and commitment to operational excellence of the Group's employees. We look forward to continuing to work with Afplats on the successful delivery of this project."
Ends
For further information:
Shaft Sinkers Holdings plc+44 787 595 1362
Alon Davidov, Chief Executive Officer
Chris Hall, Chief Financial Officer
Aura Financial +44 (0) 207 321 0000
Michael Oke / Andy Mills
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 17 complex for Impala Platinum, Leeuwkop for Afplats, the Styldrift project for Anglo Platinum and Royal Bafokeng Resources, the Karee 3, Hossy and Saffy projects for Lonmin as well as Rampura Agucha for Hindustan Zinc Limited and Kibali Goldmines for Randgold Resources.
Afplats Proprietary Limited (Afplats)
Afplats (Pty) Limited (Afplats) is a 74% owned subsidiary of Impala Platinum Holdings Limited (Implats). Headquartered in Johannesburg, South Africa, Implats operates six main units: Impala, Zimplats, Marula, Mimosa, Two Rivers and Impala Refining Services. It is principally in the business of producing and supplying platinum group metals (PGMs) to industrial economies. The primary operational unit has operations situated on the on the western limb of the world-renowned Bushveld Complex near Rustenburg in South Africa.
Implats produces approximately 22% of the world's supply of platinum with a workforce of 63 000, including 23 000 contractors. The Group produced approximately 3 million ounces of PGMs, including 1.56 million ounces of platinum in FY2013.
This information is provided by RNS
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