Shaft Sinkers Holdings an international shaft sinking and underground construction group, has been selected by Randgold Resources to initiate mobilisation activities for the Kibali gold mine in the Democratic Republic of the Congo.
Kibali is a joint venture between mine operator, Randgold Resources (45%), AngloGold Ashanti (45%) and Congolese parastatal, Sokimo (10%). The project is situated near Doko, in the north eastern Orientale province.
The initial phase, which will begin immediately, is the start of shaft sinking activities and equipping the main underground shaft.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The vertical shaft contract remains subject to negotiation, but talks are advanced with both parties working to reach a final agreement as soon as is reasonably practicable, Shaft said.
The shareprice rose 4.15% to 62.75p by 14:17.
NR
-
Which investment trusts could benefit from lower interest rates?As vehicles for long-term investments, many investment trusts were hit when interest rates rose in 2022. With interest rates expected to fall by the end of the year, could now be the time to invest in one of these unloved sectors?
-
How to protect your personal and financial data from cyber attacksM&S and the Co-op are the latest retailers to suffer from cyber hacks but consumers also need to be vigilant
