Shaft Sinker rolling in good news

Underground construction group Shaft Sinkers jumped after a double whammy of good news, with striking miners going back to work and the award of further business.

The firm had to suspend work at AngloGold Ashanti's Moab project in South Africa after miners took wildcat strike action.

However, it said all shifts had now reported for duty and operations were back to normal.

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Work at Lonmin's Saffy shaft was also suspended after some workers took unannounced strike action.

Following legal action pursued by the company to declare the strike illegal, workers were given an ultimatum to return to work by no later than Monday 29th October.

The firm said this deadline had been met and all staff were back at work.

Shaft Sinkers urged employees to use "formal and recognised engagement structures" to address any concerns going forward.

The 7.4% jump in the firm's share price was also down to the award of additional work on its existing projects at Impala's 16 and 17 Shafts.

It said the new work would add £16.25m to its order book.